Ruler

Ruler Protocol is a lending platform where users can borrow their preferred cryptocurrency with any other cryptocurrency as collateral.

It aims to fill the gap by enabling the following:

• No liquidations as long as borrowers pay back on time

• Interest rates determined by supply and demand

• Fixed rate loans at the moment of borrow / lend

• Fungible loans, tradable anytime & anywhere

The heart of Ruler Protocol is its Ruler Pairs.

Ruler pairs are at the core of Ruler Protocol. Each pair consists of the following elements:

• Collateral token (ex. wBTC)

• Paired token, the token users have to payback (ex. Dai)

• Expiry, the time users have to pay back (ex. 12/31/2021)

• Mint ratio, the ratio of collateral to paired token. 10,000 mint ratio @ $30,000 collateral price = 300% collateralization ratio

Each Ruler pair issues two fungible tokens (rTokens). rTokens are minted for each staking event by a borrower. The Ruler capital token (rcToken) represents the right to collect the payments of the loan after expiry. The Ruler repayment token (rrToken) represents the obligation to pay back the loan and receive the collateral before expiry. If borrowers don't payback on time, the loan is considered defaulted, and collaterals are forfeited by the borrowers.