# Income Aggregator Protocol **Income aggregator protocol: interest-bearing market, smart money market, and interest rate market** ▪ In our agreement matrix, lending agreements play a crucial role, not only providing interest income for upstream asset-class agreements, but also adjusting the liquidity of the agreement matrix by adjusting interest rates. ▪ Interest rate market is the most critical infrastructure in modern finance and determines the distribution of basic capital. The interest rate market for cryptocurrencies is like a wormhole, connecting two parallel universes (crypto finance and traditional finance) together, allowing capital to circulate freely between them. ▪ Due to the interoperability and composability of assets and liquidity, the current open-ended lending agreements have a strong competitive advantage in terms of capital efficiency. ▪ Lending demand creates interest rate markets that provide returns for capital (such as stablecoins) and compensates for the opportunity cost of holding capital in open financial networks, without relying on interest from traditional financial markets. However, the current universal open lending agreement also has many drawbacks: ▪ Most lending agreements (Compound, Aave) do not have a debt ceiling (only Maker has a debt ceiling for each mortgage asset). Open finance is still in the early stages of the industry, and the risk of having no debt restrictions could cause any single hack or functional flaw to destroy an agreement. ▪ The current open financial license-free and open design cannot meet those users who need a high degree of compliance and / or need a counterparty. This severely hindered the expansion of the protocol and limited a small number of users. ▪ Today's open lending agreements are vulnerable to the combined risk of upstream asset agreements (e. g., USDT, USDC, and DAI), especially when it is combined with atomic trading and lightning lending. ▪ The lack of current open-ended financial protocols, flexible enough risk control modules and framework, has greatly hindered its scale expansion, especially the difficulty to serve users with customized needs. Open finance is in a stage of rapid development, and our lending agreement will take a variety of design forms to better meet the needs of different groups. On the one hand, we will build an unlicensed version of the lending agreement, but add more built-in risk control parameters; on the other hand, we will work with centralized financial operators to launch lending agreements for specific users and assets. Honingdas Network will continue to focus deep in open finance, focusing on fully open and unlicensed protocol development and technical support, and our centralized financial partners will be responsible for building compatible interfaces to interact with Honingdas Network protocols. Lending agreements serving centralized financial partners continue to operate in a fully verifiable, on-chain, fully automatic, and open manner. Mixed model includes a general open financial lending agreement (Honingdas Network lending agreement) and mixed lending platform, we will through the latter to create multiple independent lending pool (and connected to the UBill NFT mixed pool), to meet the different needs and risk hobbies of user groups, including stable currency lending pool, commodity assets, pledged assets lending pool, liquidity provider equity lending pool, etc. The hybrid model is expected to enable Honingdas Network lending agreements to maintain maximum flexibility while meeting the needs of different user groups, such as optimizing interest returns through interest-bearing agreements to obtaining high returns from hybrid lending platforms (different risks and collateral preferences); and meanwhile, providing low-cost funds for decentralized Honingdas Network lending agreements in the agreement matrix. The Honingdas Network lending Agreement (similar to Compound and Aave) is a non-Licensed, fully open, decentralized lending agreement, funded by the a Token's funding pool and other sources. Under the hybrid mode of the Honingdas Network lending platform, most of the capital supply will come from the Honingdas Network hybrid lending pool under the interest-generating token pool (a Token Pool). The following chart is the infrastructure of our hybrid lending platform: We will further expand our portfolio of lending agreements to provide a richer range of segmentation agreement products. **Application implementation** Honingdas Lend is a decentralized lending platform in the ecosystem that supports customers to deposit / borrow renewable power, carbon emissions, $HDS, FUSD, FIL, and other mainstream crypto assets. Deposit in the platform, the system will produce a NFT deposit notes (UBill NFT), each UBill represents a certain encryption asset principal and its corresponding usufruct, at the same time can get credit points in the protocol matrix, earn more income (example: in ALL BLUE, every 1 UBillNFT get complete landmark NFT reward probability increased by 1%, debris landmark NFT probability reduced by 1%). --- # Agent Instructions: Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter: ``` GET https://honingdas.gitbook.io/honingdas.net/income-aggregator-protocol.md?ask= ``` The question should be specific, self-contained, and written in natural language. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. 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