Welcome to Torches!
  • 📝Introduction
  • đŸ›Ąī¸Security & Audit Report
  • GUIDES
    • đŸ—ŗī¸Config KCC Network
    • đŸŽ¯Bridging Assets
      • KuCoin and KCC
    • 📤Depositing
    • đŸ“ĨBorrowing
    • 📈Liquidation
    • 🌅Torchlight NFT
    • 💰Torches Point Token Guide
    • 🙋FAQs
      • FAQs for Torches
      • FAQs for TOP Mining
      • FAQs for LP Assets
  • PROTOCOL
    • đŸĒ™tTokens
  • TOKENOMICS
    • đŸ”ĨToken
    • 🔑Torches Point Mining
    • đŸ‘ĨGovernance
  • DEVELOPER
    • 💡Smart Contracts
    • 🔔Bug Bounty
  • COMMUNITY LINKS
    • 🌐Websits
    • ÂŠī¸Github
    • 📡Discord
    • đŸ“ĢTelegram
    • *ī¸Twitter
    • â“‚ī¸Medium
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On this page
  • What is Torches ?
  • Why use Torches ?
  • How do I use the service?
  • Where are my deposited funds stored?
  • Is there any risk?

Introduction

NextSecurity & Audit Report

Last updated 2 years ago

What is Torches ?

Torches is a decentralized non-custodial liquidity protocol based on KCC, where users, wallets and dapps can participate as depositors or borrowers. Depositors provide liquidity to the market to earn a passive income, while borrowers are able to borrow in an over-collateralised manner.

Why use Torches ?

Torches utilises common pool-based mechanics where all funds deposited participate in interest-bearing activities equally. Based on KCC, it utilises extremely low fees(~only few cents per transaction) making it highly attractive for both high and low volume deposits and loans.

How do I use the service?

In order to use the service, you simply supply your preferred assets . After supplying, you will earn passive income based on the market borrowing demand. Depositing assets allows you to borrow other assets by using your deposited assets as a collateral.

Additionally, some tokens(for example, KCS and USDC) are safely staked within the ecosystem to earn additional income for the depositors.

Where are my deposited funds stored?

Your funds are stored in a system of smart contracts. The code of the smart contract is public and open source. You can withdraw your funds from the pool or export a tokenized (tTokens) version of your lender position.

Is there any risk?

The risks related to the Torches protocol are mainly smart contract risk(risk of bugs within the protocol code) and liquidation risk (risk on the collateral liquidation process).

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Learn more about tTokens in the corresponding section