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Saffron Finance Joins Neo’s N3 Early Adoption Program

bhavana by bhavana
19 Oct 2021
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Neo Smart Economy announced that Saffron Finance has joined their NeoN3 Early Adoption program.

About NEO 

Neo is an open-source platform that aims to create an economy to bring together digitized payments, identities and assets. It was launched as Antshares in February 2014 and then rebranded as Neo three years later. NEO is believed to be China’s first-ever public blockchain.

Saffron Finance

Saffron Finance is a peer-to-peer risk management platform. It uses a tranche-based yield aggregation to divide earnings into different tranches. It also provides an insurance fund to generate yield for depositors. Users can select a risk profile for an event from a choice of senior, junior fee tranches. The junior depositors have a lower coverage priority but receive a higher share of the total earnings than the senior depositors. 

Saffron’s governance token is the SFI which liquidity providers use to access higher risk tranches on the platform. This staking process insures the other tranches. SFI tokens are also used to govern the protocol. 

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Saffron Finance Joins NEO

Saffron Finance is the sixth project to join the N3 Early Adoption Program by Neo Global Development (NGD). NGD launched the N3 Early Adoption Program in June 2021. This program allocates $10 million for financial and other support to encourage developers and project teams to build their technologies on the Neo N3 platform.

Saffron Finance Joins N3

The first launch that is planned is with Flamingo Finance liquidity mining. This launch will expand the risk marketplace that Saffron has access to. The Saffron pools will be able to choose from tranches with varying levels of coverage and interest. Pools can also use a reserves system to protect yield generation from adverse smart contract hacks, drained accounts, bugs, and errors.

NGD expects that it will become possible to transfer large volumes of income financial products from centralized financial institutions to a decentralized, open-source network through their working with Saffron.

Tags: AltcoinsFlamingo FinanceinsuranceN3 Early Adoption ProgramNEONeo Global DevelopmentNeo Smart EconomyNewsNGDsaffron financeSFI

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