About FODL (FODL)
FODL Finance is an Ethereum-based decentralized finance protocol that enables users to enter leveraged trades without paying funding rates. In place of a funding rate, users can leverage their position using collateralized assets from existing DeFi protocols like Compound and Aave. FODL Finance's native currency is called FODL, which serves as a governance token, an incentive mechanism for users and as a means to generate revenue for the platform via token buy-backs.
Users can borrow against collateral deposited into other DeFi applications and redeposit borrowed funds to increase their leverage. Opening a long position on a particular asset with FODL Finance requires borrowing a stablecoin using the chosen non-stablecoin as collateral. Meanwhile, leveraged shorts can be created by borrowing the non-stablecoin using a stablecoin as collateral.
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