ShuttleOne Protocol Extends over $15 Million in Loans
The ShuttleOne Network aims to be the "operating system for finance," enabling individuals and enterprises to build and run dApps. Notably, the platform is also open to non-blockchain operations deploying and utilizing its rails to run automated and non-custodial DeFi solutions. This way, ShuttleOne acts as a link of liquidity from the global DeFi market.
The project is looking to tap into over four ecosystems ranging from banking, Fintech, remittance, accounting, and more. Businesses actively engaged in finance can readily integrate with ShuttleOne DeFi solutions to serve their global clients. They stand to benefit from fast access to financing, unbiased credit scoring, and cheaper cross-border fund transfer.
ShuttleOne Network has processed over $40 million of digital assets, extending $15 million as loans to businesses less than a year since launching. The project also expects over three enterprises to plug into its rail, further boosting their trading volumes and demand for the SZO utility token.
Integrating AI and Focusing on User Interface Design
In ensuring a wider reach, ShuttleOne has incorporated artificial intelligence into its operations while using the decentralization and power diffusion of the blockchain to serve a broader base.
Since non-blockchain companies and individuals can leverage its infrastructure, the platform has also focused on easing the onboarding process. Accordingly, ShuttleOne has revealed its goal of focusing on user interface for a seamless, intuitive interaction for all users, even those without blockchain backgrounds.
The SZO Utility Token Review: Incentivization and Reward
Towards achieving their goal of making stablecoins the primary funding agent providing the $3.5 trillion need of business finance, ShuttleOne uses the SZO utility token. Besides incentivization, it also serves to secure its liquidity pool. Assets in the pool are from liquidity providers and are locked by an audited smart contract.
The pool is used to fund financial services such as loans and remittances supported by the protocol. According to the protocol, liquidity providers can earn stablecoins to receive above-average yields generated by real-world assets collateral. A corresponding real-world asset must be collateral for every financial support a business gets from ShuttleOne Network's liquidity pool.
ShuttleOne Incentivization Programs
The ShuttleOne Network has two incentivization programs to encourage users to deposit stablecoins into their liquidity pools. The Early LP Program has a faster SZO emissions rate, only accessible to beta users. All unclaimed SZO will be opened to the LP Supplier Incentive program after nine months from the date of trading. During the LP Supplier Incentive Program, the protocol will continue rewarding liquidity providers with SZO.
Incentivization and SZO reward distribution to liquidity providers will continue even after the LP Supplier Incentive ends. Then, as the protocol gains a bigger market share, payments generated from ShuttleOne Network's products will be equally dispersed to liquidity providers. The distributed SZO will include the 5.763 million SZO locked by the protocol in various listing pools.
SZO Token Burning Program
In addition to being a utility, the SZO token serves as an internal currency used in paying fees and settlements. The protocol has also announced an SZO token burning program. For every loan, ShuttleOne will swap stablecoins for SZO, which will then be burned and taken out of supply. Burning of tokens will be from the total supply for continuous monitoring and regulation.
The SZO token can also be traded in decentralized exchanges, including PancakeSwap in the Binance Smart Chain (BSC) and DODO Exchange as wSZO.