#HUMAFINANCE🟣 💡 What is Huma Finance?
Huma Finance is a decentralized finance (DeFi) protocol focused on providing income-backed loans instead of traditional collateral like cryptocurrencies.
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🧩 Key Features of Huma Finance:
1. ✅ Income-Backed Loans:
The user's ability to repay is assessed based on their income flow, not just what they own in their wallet.
2. 🔗 Use of Smart Contracts:
Smart contracts are used to create transparent and secure financial agreements between parties.
3. 🌍 Assistance for the Unbanked:
Aims to empower individuals in developing markets to access financing through DeFi.
4. 🔄 Integration with Web3:
User income sources can be linked, such as Web3 earnings, work on platforms like Gitcoin, and others.
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🛠️ How Does It Work?
The user connects their wallet that shows their regular income.
The income flow is analyzed by smart contracts.
The user receives a loan based on this analysis.
The loan is repaid through a portion of this income.
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📈 Use Cases:
Financing for freelancers and workers in the Web3 economy.
Support for small businesses in developing countries.
Financing for bills and salaries in small companies.
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🪙 Project Token:
These protocols typically launch their own token, but so far there is no official confirmation of a token named $HUMA or any other on major platforms.
