Moola Market is a non-custodial liquidity protocol that is democratizing access to yield and credit. Depositors earn compound interest which is paid for by borrowers who take over-collateralized loans, delegated loans, or flash loans.
Moola interest bearing tokens (mTokens) such as mcUSD, mcEUR, mcREAL, mCELO, and mMOO are transferable cERC20 tokens that represent claims on deposited assets plus accumulated yield. Each mToken is redeemable for exactly one Token (e.g. 1 mcUSD = 1 cUSD). When a wallet deposits Tokens into Moola Market, it receives an equivalent quantity of mTokens in return.
The Moola Market protocol has been independently audited since the open source code was migrated from Ethereum to Celo. Moola Market has shared ancestry with Aave v2 codebase which has also been audited here and here. Moola Market contracts are open source so everyone can independently verify the code base as well as build applications that interact with Moola Market.
Moola Market does not charge any fees to deposit or withdraw. All transactions on Moola Market including deposit, withdraw, borrow, and repay incur network transaction fees which are used to secure the Celo network. Borrowers incur debt that compounds at either stable or variable interest rates, depending on which interest rate option was selected by the borrower. Flash loans incur a fee of 9bps.
