Tadpole Finance is an open-source platform that provides decentralized financial services on top of the Ethereum network. In this project, Tadpole Finance is working on the DeFi or Decentralized Finance ecosystem which is based on savings and loans. This means that people can borrow and lend crypto assets through this project. As of the time this video was made, the savings and loan program is still being worked on and is expected to be released in 2021.
The main goal of Tadpole Finance is to create an open ecosystem where users can freely add any ERC20 token to be listed in the DeFi lending system.
This project was first initiated by Indodax and Tokenomy in 2020. The figures behind this project are Oscar Darmawan, the CEO of Indodax, and William Sutanto, the CTO of Indodax.
Not only is Tadpole Finance like any other open source, but Tadpole Finance also shares TAD tokens. The TAD token is a token belonging to Tadpole Finance. You can get TAD tokens in several ways, including by Genesis Mining, Staking LP, and also by joining the Developers Reward Program.
Currently, the ongoing development stage of Tadpole Finance is Staking LP. So, all you need to do is stake your UniSwap LP token at Tadpole Finance, and you will get TAD tokens.
So, do you know what makes Tadpole Finance different from other DeFi loans? What sets Tadpole Finance apart is that ERC20 project owners can add their tokens to Tadpole Finance.
For example, there is a project called ABC. The ABC project wants its tokens to enter the savings and loan market, but they don’t want to create their own. What they can do is they can use Tadpole Finance. So, with TAD tokens, they only need to pay the registration fee, and after payment, they can send it, and the token will be available immediately on Tadpole Finance. That is the main difference between Tadpole Finance and other DeFi.
To date, the targeted number of TAD tokens in circulation is up to 1 million TAD tokens.