KAUNAS, LITHUANIA, Sept. 13, 2022 (GLOBE NEWSWIRE) — The protocol introduces a novel NFT bond function that allows customers to switch and commerce loans within the open market.
“We are excited to launch the Aada Finance protocol and facilitate new DeFi use cases through lending and borrowing on Cardano. Peer-to-peer is the right way to build on the blockchain, and we plan to take full advantage of the eUTxO model. Ultimately, our main objective is to provide efficient lending and borrowing – a solution the Cardano community has eagerly anticipated for the last several months,” stated Mantas Andriuska, Co-Founder of Aada Finance.
Following in The Footsteps of DeFi Innovation
Aada’s V1 protocol launch aligns completely with the pre-Vasil hardfork sentiment. But aside from relying merely on its first-mover benefit, the lending platform stands out from the gang with its novel NFT bond technique.
As essentially the most vital function below the crew’s belt, NFT bonds deliver innovation to DeFi by tokenizing loans within the type of NFTs. In flip, lenders and debtors can switch and promote their loans, giving method to the liquidator position in DeFi.
About Aada Finance
Aada Finance is a decentralized lending protocol constructed on the Cardano blockchain. It makes use of the community’s eUTxO mannequin by leveraging peer-to-peer lending and borrowing primitives. The major options of the protocol mix multi-asset mortgage requests with an revolutionary NFT bond mechanism. The latter permits customers to switch and commerce loans, giving them the prospect to turn out to be liquidators.
The previous yr has seen full of life growth exercise within the Cardano ecosystem, and Aada has been no completely different. While the blockchain is but to see the launch of the vast majority of its DeFi dApps, Aada Finance managed to leverage the first-mover benefit. By changing into the primary fully-fledged lending and borrowing protocol on the blockchain, the platform paves the best way for a broader adoption of the Cardano ecosystem.
For extra details about Aada Finance and the Aada Finance V1 app, please comply with the hyperlinks beneath:
Website | Application | Twitter | Telegram | Medium | GitBook | GitHub | Discor
