ADALend: a promising DeFi lending platform by Cardano

  • Cardano is one of the leading blockchain platforms currently offering improved scalability and speed compared to other major blockchains.
  • AdaLend is a Cardano-based DeFi lending platform that aims to minimize the problems currently facing DeFi lending platforms.
  • The ADAL token is ready for a public sale on March 14 through five launch pads.

Cardano is currently one of the most important blockchains. This third-generation blockchain platform operates on Proof-of-Stake(PoS), a model designed to be a compatible alternative to Proof-of-Work(PoW) consensus. The Blockchain network was developed by technologists Charles Hoskinson and Jeremy Wood, and Hoskinson happens to be the co-founder of Ethereum (working on PoW). Cardano Ecosystem has become an alternative to Ethereum.

Gimbal Features:

  • Compared to Bitcoin, Carda is very energy efficient. It has become a leading eco-friendly blockchain.
  • Cardano’s transaction fees of around $0.35 for each transaction are much lower than those of Ethereum.
  • Cardano can process 250 transactions per second and plans to reach 1 million TPS eventually.
  • Cardano has witnessed widespread interest and investment from ADA holders, with the native Cardano token surpassing the three million mark.
  • Bitcoin or Ethereum was created a few years before Cardano, and therefore being a new blockchain platform gives it the advantage of using advanced and updated technologies.

Crypto lending has recently become a very dynamic niche with over $35 billion in total value locked in DeFi lending protocols. Ethereum dominates this space, but the network has its own issues like scalability, speed, and lower profitability. And to solve these problems, Cardano came up with 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 and aims to solve and eliminate DeFi challenges. It offers faster loan approval, automated guarantees, trust-free custody, and increased loan liquidity. Its main goal was to unveil the next generation of fast, transparent and secure crypto loans.

Unique features of AdaLend:

A separate frame:

This protocol focuses on improving the efficiency of capital flows managing various lending pools through $ADAL, the native token. Each of these pools has various elements such as liquidation pattern, borrowing and lending interest rates and usage rate.

Liquidity boosted

Attracting liquidity providers to invest assets in the pools is a must for the DeFi lending platform to enable lending. The AdaLend platform solves this problem by providing LPs with strong incentives and APYs for depositing assets and increasing loan liquidity.

Dynamic Loan Alternatives

Lending in AdaLend is completely permissionless, trustless, and can be done on any pairing of tokens. Protocol governance ensures that the best deals are available and only the most trusted oracles are used to determine rates and prices.

Decentralized and democratic regulation

ADAL token holders can participate in the governance of AdaLend, contributing to proposals and the future evolution of the platform. Additionally, AdaLend’s DAO creates a democratized, fully transparent and open-access ecosystem.

Improved idle assets

AdaLend reduces the utilization rate of unstable coins and increases the circulation of tokens. It thus maintains high levels of liquidity for protocol users and offers attractive lending rates. The platform further minimizes idle assets by transferring them to stable exchanges.

ADAL token:

The ADAL token would be used to participate in the DAO, the liquidity provider incentive. It would be used as a reserved currency and could be exchanged on demand for cash. Liquidators will be prioritized based on the number of ADAl tokens they have staked and would be paid with the same for liquidation services.

The AdaLend protocol is configured to offer retail investors the token on five Launchpads. It will be available on major IEO launchpads on March 14.

These leading IEO launch pads are focused on diverse blockchain communities. The sale would go live on AdaPad, VelasPad, BSC Pad, PulsePad and EthPAD.

And once this IEO is completed, the token will be added to the spot trading combinations of major centralized and decentralized exchanges, facilitating the liquidity of the ecosystem and its accessibility to various retail investors.

What else does the AdaLend project provide?

AdaLend’s roadmap highlights its plans for the year 2022. It includes research and development of the lending platform, launch of the AdaLend beta prototype, launch of the item program, content exploration and listings on major cryptocurrency exchanges for 2022 quarters 1 and 2.

And for quarters 3 and 4, it forecasts MultiChain products, the launch of liquidity, the growth of massive usage and the full launch of the AdaLend protocol.

The ADAL token is not yet listed, but once it is listed, it is ready to trade on major crypto exchanges connected to the launch pads, with exposure to immediate liquidity and visibility. AdaLend seems to promise to bring a new wave into the DeFi lending space. It’s about looking forward to how the project will emerge and work.

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