- Cardano is one of the leading blockchain platforms with improved scalability and speed compared to other major blockchains.
- AdaLend is a Cardano-based DeFi lending platform aimed at minimizing the problems that DeFi lending platforms are currently facing.
- All ADAL tokens will be publicly sold on March 14th via 5 lunch pads.
Cardano is currently one of the most important blockchains. This 3rd generation blockchain platform works with Proof of Stake (PoS), a model designed to be a compatible alternative to Proof of Work (PoW) consensus. The blockchain network was developed by engineers Charles Hoskinson and Jeremy Wood. Hoskinson happens to be the co-founder of Ethereum (working on prisoners of war). The Cardano ecosystem has emerged as an alternative to Ethereum.
Features of Cardano:
- Compared to Bitcoin, Carda is very energy efficient. It has emerged as the main environmentally friendly blockchain.
- The transaction fee of about $ 0.35 per Cardano transaction is much lower than Ethereum.
- Cardano can process 250 transactions per second and will eventually reach 1 million TPS.
- Cardano has witnessed widespread interest and investment with ADA holders. Cardano has over 3 million native tokens.
- Since Bitcoin or Ethereum was created a few years before Cardano, it is a new blockchain platform and has the advantage of being able to take advantage of advanced and updated technology.
Cryptographic lending has recently become a very dynamic niche, with a total value of over $ 35 billion locked in the DeFi lending protocol. Ethereum dominates this space, but networks have their own issues such as scalability, speed, and cost-effectiveness. And to solve these problems, Cardano devised this fully decentralized lending protocol called AdaLend.
What is AdaLend?
A platform built on the Cardano network, AdaLend is a user-friendly, scalable and fully decentralized Layer 1 platform aimed at solving and eliminating DeFi challenges. It provides faster loan approval, automatic collateral, unreliable custody, and increased loan liquidity. The main purpose was to announce the next generation of fast, seamless and secure crypto lending.
Unique features of AdaLend:
Clear framework:
This protocol focuses on improving the efficiency of capital flows that manage various lending pools via the native token $ ADAL. Each of these pools has various factors such as clearing model, borrowing and lending rates, utilization rates, and so on.
Stimulated liquidity
Attracting liquidity providers to invest assets in the pool is a prerequisite for the DeFi lending platform to be able to lend. The AdaLend platform addresses this by providing LPs with strong incentives and APYs to deposit assets and increase the liquidity of loans.
Dynamic lending options
Lending with AdaLend is completely unauthorized, unreliable and can be run on any token pair. Protocol governance ensures that the best offers are available and only the safest Oracle is used to determine rates and prices.
Decentralized democratic regulation
Owners of ADAL tokens can participate in AdaLend’s governance to contribute to platform proposals and future evolution. In addition, AdaLend’s DAO creates a democratized, fully transparent, open access ecosystem.
Strengthening idle assets
AdaLend reduces the utilization of unstable coins and increases the circulation of tokens. Therefore, it maintains high liquidity levels and offers attractive lending rates to protocol users. The platform further minimizes idle assets by transferring them to a stable swap platform.
ADAL token:
ADAL tokens are used to participate in DAO, liquidity provider incentives. It is used as a reserve currency and can be exchanged on demand for liquidity. Clearers are prioritized by the number of ADAl tokens they bet and the same amount is paid for the clearing service.
The AdaLend protocol is configured to offer individual investors tokens on five Launchpads. It will be available on major IEO lunchpads on March 14th.
These top tier IEO lunchpads focus on the various blockchain communities. The sale will be available on AdaPad, VelasPad, BSC Pad, PulsePad and EthPAD.
And once this IEO is complete, the tokens will be added to the spot trading suits of centralized and decentralized exchanges, making the ecosystem fluid and accessible to a variety of private investors.
What more is the AdaLend project planning?
The AdaLend roadmap highlights the 2022 plan. We will research and develop a list of lending platforms, AdaLend Prototype Beta Launch, Article program launch, content mining, and major cryptocurrency exchanges in the first and second quarters of 2022.
We also plan to launch MultiChain products, liquidity, large-scale usage, and the full launch of the AdaLend protocol in the third and fourth quarters.
ADAL tokens are not yet listed, but once they are listed, they are all set to trade on prominent crypto exchanges connected to Ranchpad, exposing them to immediate liquidity and visibility. .. AdaLend seems to be promising to bring a new wave to the DeFi lending space. We look forward to seeing how more projects will emerge and be implemented.
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