DeFiner FAQ (Nov 2021 Edition)

These are the commonly asked questions we collected from the community

Staking reward - in what format will my rewards be? 

There are two portions of your staking rewards:

  • the token you are staking
  • FIN. 

Let's take depositing Tether as an example. As you can see in the screenshot above, users will get 18.09% APR in the Tether and 2.36% in FIN. 

Why is the FIN price shown on the DeFiner platform different from what I am seeing in the exchange? 

DeFiners uses our own oracle for tokens like FIN to avoid price manipulation. Using real-time price will expose us to risks like purposely pumping the token price and conducting attacks on our platform. The price we are using for FIN is the average historical price in the past two weeks. This mechanism can avoid these situations and efficiently product users' fund security. 

Click here to learn more about our Oracle. 

Will cross-chain to OEC change the total FIN amount? 

Cross-chain will not change the total supply of FIN. Our Total amount remains to be 168,000,00

What is Health Rate?

Health Rate = 1- Loan Balance/Deposit Balance.

  • If the Health Rate dropped below 40%, users will not be able to withdraw funds. 
  • If the Health Rate dropped below 15%, the user's account will be auto liquidated. 

APR or APY?

Before we dive in, let get familiar with these two concepts. 

  • APR stands for Annual Percentage Rate.  
  • APY stands for Annual Percentage Yield. 
  • APY takes into account compounding, but APR does not. 

At DeFiner, APR and APY depend on whether a user triggers the smart contract or not.

If a user does not interact with the contract, he/she will earn on APR. However, if a user conducts actions on the block, he/she will earn APY.

Actions like deposit, withdraw, borrow and repay will all trigger the DeFiner Smart Contract.

Gas Estimation Error? 

If you are encountering a "Gas Estimation Error" message when you are trying to withdraw or repay, make sure that the collateral switch of that asset is enabled. 

How to enable/disable Collateral Switch. 

Amount FIN for staking per year? 

The amount of FIN for staking is set. It will halve every four years.

Has DeFiner been audited before? If so, why which auditing firm? 

DeFiner has conducted three rounds of audits in total. The first round is completed by ex Chain Security Engineer. The second round is conducted by Trail of Bit. Third round is conducted by Consensys Diligence. 

Where can I buy FIN? 

Users can easily access FIN token on both centralized and decentralized exchanges. 

  • DEX
    • Uniswap 
    • DoDo Ex 
    • Sushi Swap 
  • Centralized Exchanges 
    • AscendEx (previously Bitmax) 
    • Gate.io 
    • MXC

Click here to read more info on trading FIN. 

Current  Partnerships

  • Chains: OKExChain, Near, Aurora, Conflux. 
  • Swaps: Cherry Swap, Jswap, Uniswap, Sushi Swap. 
  • Wallets: ImToken, Token Pocket, Ontology 
  • GameFi: Celestial
  • Oracle: Chainlink
  • Others: Wyre, Kyber, DeFi Pulse, Debank