Unlock your TON liquidity with $DONE stablecoin

Delea is a decentralized borrowing protocol where you can deposit TON as collateral to mint $DONE, an over-collateralized stablecoin. This allows you to unlock liquidity and participate in DeFi without selling your TON.

In Delea, over-collateralization means that the value of your collateral (TON) must be higher than the amount of $DONE stablecoin you mint. Specifically, your collateral must be at least 125% of the value of the $DONE you borrow. This ensures the stability of the system, protecting both the protocol and users from market volatility. If the value of your collateral drops too much, you may need to add more collateral to avoid liquidation.

Initially, you can use $TON as collateral to mint $DONE. In the future, Delea will support additional collateral types like tsTON, stTON, and other assets as it evolves into a multi-collateral system.

If your Health Factor reaches 1.20, your position will be liquidated. Delea will collect fees from your collateral and transfer it to liquidators, who will provide an equivalent amount of $DONE back to the protocol. Delea will then burn the $DONE to keep the price and collaterization stable. You can still use the $DONE you minted, but your original collateral will not be returned. More about liquidation read here.

A 1% fee is charged for debt repayment, a borrowing fee (4% annually) is charged based on the number of days the borrower position remains open, and 10% is charged additionally if the position is liquidated.

You can earn LEA points by using our Telegram miniapp. Simply check in every 4 hours to farm points and complete various quests to boost your earnings and collect even more points.

Once we list our native token, we will reward LEA points holders with an airdrop.