The “Bailout” for Everyone Else-Egoras and Nuls Partner To Provide Trustless Uncollaterised Loans.

We’re pleased to announce that egoras protocol will be joining the NULS ecosystem to provide micro-credit to small entrepreneurs and enterprises who cannot take shelter of banks for banking and other services. Currently, it costs over 200usd to generate a credit of 100usd from Egoras protocol because of the outrageous gas fees on ethereum Network.

Egoras will be stimulating its microfinance protocol on Nuls blockchain and on Polkadot because interoperability and the high TPS associated with these blockchains.

About Nuls

NULS is a global blockchain open-source community project, which provides a customizable blockchain infrastructure. It consists of a micro-kernel and functional modules. With innovative ideas on reducing the burden of main blockchain and decoupling events and services, modularization on all NULS underlying operational components is architected and implemented. Thus, NULS is fully capable of providing functional mechanisms to: 

conduct smart contracts 

integrate main chain and sub-chains 

yield cross-chain consensus and to reduce costs in development and operation in business applications

About Egoras

Egoras protocol aims to address issues facing microfinance sectors like high-interest rates, dependence on banks, and indebtedness. Egoras protocol uses an on-chain treasury system to make sure that Egoras protocol does not lack the funds or liquidity for the loans and these funds are governed by the people. Finally, the Egoras protocol introduces collateral lending to address over-indebtedness in the microfinance sector, small business assets will be converted to non-fungible tokens and it represents the collateral and these assets will be sold off when the borrower defaults the loan.

All loans are over collateralized by real-world assets like real estate, vehicles, and supply chain invoices. The real-world assets backing are represented as NFTs.




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