Bixin’s lending has now been upgraded. After this upgrade, the following new features are added:
1. Borrowing USDS is now supported. Interest of USDS will be counted based on 1-day cycles. Unrepaid loans at the end of a cycle will be renewed into the next cycle. Daily interest rate will be updated daily based on market supply and demand of fund. The current daily rate is 0.03%.
2. Partial repayment for a single loan is now available. Users can also repay loans by deducting their collaterals at the market price.
3. Overall interest counting principle adjusted from charging compound interest to simple interest. Simple interest is calculated only based on the principal amount of a loan, as opposed to counting the interest based on both the principal and the interest that accumulated on it in previous cycles.
Apps older than 3.7.11 will not be able to use the upgraded lending functionality. To keeping using crypto lending, please visit https://bixin.im to download the latest Bixin wallet.
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April 16, 2020