The All New Moola.Market
Today we are thrilled to take the next step in democratizing access to credit and yield by releasing a brand new, mobile-first, experience for Moola markets at app.moola.market.
Since we first launched Moola in public Beta in February, we have been collecting feedback and designing a new version of Moola that is optimized for mobile devices.
The new app is an easy-to-use access point into Moola markets for anyone who just wants to earn compound interest, while also offering more advanced analytics to help borrowers make borrowing decisions and track debt positions.
So what’s new?
Net Balance:
As soon as you connect your wallet, you’ll see your ‘Net Balance’ which equals the total amount you’ve deposited, minus any debt, and denominated in either USD or EUR. You can toggle between showing your Net Balance in USD or EUR by navigating to the settings menu. Net Balance only includes assets deposited into Moola, and does not include any additional value that you may have in your wallet address.
Next to ‘Net Balance’ you’ll find a question mark that when tapped, triggers a popup explainer. You’ll find many more of these question marks and popup explainers throughout the app.
Market Tab:
The Market Tab on the home screen shows you information that is global to all of Moola market. Here you will find high level information for each Moola market such as APY, total deposited, and total borrowed. More detailed information for each Moola market can be displayed by tapping on the asset.
You’ll also find several frequently asked questions and a link to docs.moola.market at the bottom of the Market tab.
Account Tab:
The Account tab on the home screen shows information specific to your connected wallet address. This includes deposit and borrow amounts, APY and APR rates, liquidation prices, and your Health Factor (pro tip: monitor your Health Factor with the Moola Telegram bot).
The Account tab also contains your Activity feed which is a history of all your Moola events including; deposit, borrow, repay, withdraw, and liquidation. Events are displayed in chronological order and can be tapped on to reveal more detailed information.
Deposit:
When you tap ‘Deposit’ you’ll be prompted to enter the amount you wish to deposit. ‘Max Amount’ shows you the maximum amount you can deposit based on your connected wallet balance (minus a small amount to make sure you can still pay for transaction fees). To select a different asset than the one that is shown by default, tap on the asset, and select a different one from the popup menu.
Once you’ve selected the deposit asset, input the deposit amount, and tapped ‘Next’, you’ll see a confirmation page where you can review your transaction before broadcasting it to the Celo network.
Borrow:
Once you’ve made a deposit, you’ll see an option on your home screen to ‘Borrow’. Tapping Borrow takes you to the borrow page where you can take a loan against your deposited collateral.
To select a different asset than the one that is shown by default, tap on the asset, and select a different one from the popup menu. You can input the amount by typing it manually or by using the slider bar. The maximum amount of any asset that can be borrowed is equal to a 75% loan-to-value.
Current Account Status:
Once you’ve borrowed from Moola, the next time you tap deposit, borrow, repay, or withdraw, you will see advanced analytics intended to help you understand your current account status. This includes your total debt, health factor, current loan-to-value, max loan-to-value, liquidation threshold, collateral and debt assets, liquidation prices, interest rate mode, and APR.
New Account Status:
New account status is a simulation tool that activates as soon you input an amount. It shows you the same information as Current Account Status, but updates to show you what your new account status would be if you moved forward with the amount that you have input. New Account Status is intended to make it easier to manage liquidation risk by displaying helpful information and letting you simulate various scenarios.
What’s next?
In the next few days we will be providing information about the MOO governance token release. Over the next few development sprints we will also be adding new features to Moola including; stable rate borrowing, interest forwarding, leverage, desktop browser optimization, and much more.
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