Singapore, June 27, 2022 — Torches Finance, a decentralized noncustodial liquidity protocol based on KuCoin Community Chain (KCC), has announced Torches Finance’s mainnet launch on KCC.

Torches Finance is a KCC-based lending protocol that integrates functions such as lending, leveraged mining and nonfungible tokens. (NFTs). So far, the platform has opened deposit and lending services for Bitcoin (BTC), Ether (ETH), KuCoin Token (KCS), Tether (USDT) and USD Coin (USDC). 

Torches Finance hopes to increase the utilization rate of crypto assets on KCC and provide new financial investment options for users.

To further improve Torches Finance’s on-chain usage and market share, it has made serious efforts to enrich user usage scenarios by innovating token-incentive models and strict risk management. Users can gain token benefits by providing liquidity, lending, participating in governance and more.

To motivate early users to contribute to Torches Finance, it has also revealed Torches Points (TOP) mining activities. Users can gain TOP by completing specified deposits, loans, liquidations and more. TOP, as the contribution proof of community users, is converted to TOR tokens. Specific details will be announced after the TOR token’s release.

Torches Finance increases users’ willingness to invest capital in the market and lets them increase their income from Torches Finance’s ecosystem.

Joe, CEO of Torches Finance, said, “Lending protocols are essential as the infrastructure in the decentralized finance (DeFi) ecosystem. At present, there are no DeFi projects with ecological effects on KCC. I hope Torches Finance can become the leader of the DeFi field in the KCC ecosystem. It provides more financial services to choose from for the majority of KCC users and deeply integrates with the KCC ecosystem to jointly build the underlying services of DeFi. We want to be the underlying infrastructure of the decentralized universe in the future.”

Torches Finance’s mainnet launch will meet users’ crypto-asset management needs on KCC. To thank users for their support and contributions, Torches Finance is launching a Torches genesis NFT casting event in the near future. Users can join the community on Discord to learn more about genesis NFTs and how to participate.

About Torches Finance

Torches Finance is a decentralized lending protocol based on KCC that supports mainstream crypto assets such as BTC, ETH and more. Users can earn TOR tokens by depositing and lending assets.

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