Introducing $FLAT - Maximizing Efficiency on Yield Farming

The new stablecoin from LatteSwap seeks to maximize capital efficiency for yield farmers on Binance Smart Chain.

December 24, 2021

LatteSwap Introduces Flat

Are you an avid yield farmer who’s looking to increase your capital efficiency and maximize your yield farming rewards? Today is your lucky day, as LatteSwap has recently released their stablecoin, $FLAT, which boasts the ability to take your capital efficiency to the next level!

$FLAT is an over-collateralized and crypto asset-backed stablecoin, meaning every $FLAT in circulation is always backed by assets greater than its value. The arrival of $FLAT will provide an opportunity for PancakeSwap and LatteSwap farmers to put up their LP tokens as collateral to borrow $FLAT while still earning farming rewards and trading fees from the LP positions!

$FLAT can be swapped into any assets providing flexibility to the yield farmers. There will also be an opportunity to earn $90k / week in yield farming rewards by providing liquidity to the $FLAT-BUSD LP pool.

$FLAT is $MIM Upgraded

Many investors may have heard of Abracadabra’s $MIM, which has gained a lot of traction recently. $FLAT is a fork of $MIM, adding several new functionalities that help limit the risks and impact of liquidation on its users as well as a better management of bad debt. LatteSwap has provided the detailed features of $FLAT in their Docs here

If you want to borrow $FLAT, you can simply head over to LatteSwap’s Website and deposit your LP tokens. You can specify the amount of $FLAT you would like to borrow and will receive $FLAT in your wallet once you confirm the transaction!

LatteSwap will stake the LP tokens on your behalf which means you will still continue to earn your farming rewards - whether that’s CAKE or LATTE, which you can claim anytime through LatteSwap.

For more detailed step-by-step instructions, visit the detailed guide

LatteSwap Security

If you are worried about the security of $FLAT and LatteSwap, fret not! LatteSwap prides itself in its emphasis on protocol security, which is why it has already undergone three audit reports on the $FLAT module alone. You can find all the audit reports LatteSwap has received to date in their docs

In addition to the audits, LatteSwap has partnered with Immunefi to run their $50K USD bug bounty program as an additional security layer. LatteSwap also has a 24-hour time lock that requires a delay of 24 hours for an update on the smart contracts to be executed. This will give their users plenty of time to withdraw funds should they no longer feel safe leaving their funds at LatteSwap. 

For more details about the launch, please visit LatteSwap’s announcement article. 

About LatteSwap

LatteSwap is a Decentralized Exchange (DEX) with a focus on capital efficiency and bridging the Decentralized Finance (DeFi) and the Non-Fungible Token (NFT) space together with its NFT integrated functionalities. The platform offers three main features to its users: trade, earn, and collect. Users can trade cryptocurrencies with ease, participate in safe and attractive earning opportunities, and collect LatteSwap’s highly exclusive NFTs that possess real tangible utilities.

For more information about $FLAT, visit their docs and the following links: 

Borrow $FLAT now here!

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