- Cardano is one of the leading blockchain platforms currently offering enhanced scalability and speed compared to other major blockchains.
- AdaLend is a Cardano based DeFi lending platform that aims at minimising the issues that the DeFi lending platforms currently go through.
- ADAL token is all set for a public sale on March 14th via five launchpads.
Cardano is one of the most considerable blockchains currently. This third-generation blockchain platform functions on the Proof-of-Stake(PoS), a model designed to be a compatible alternative to the 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 the PoW). Cardano Ecosystem has emerged to be an alternative to Ethereum.
Features of Cardano:
- In comparison to Bitcoin, Carda is highly energy-efficient. It emerged as a leading environment-friendly blockchain.
- Cardano’s transaction fees of around $0.35 for each transaction are much lower than that of Ethereum.
- Cardano can process 250 Transactions Per Second and plans to reach 1 million TPS eventually.
- Cardano has been witnessing broad interest and investment with the holders of ADA, Cardano’s native token surpassing a mark of three million.
- Bitcoin or Ethereum was created a couple of years before Cardano, and hence, being a new blockchain platform gives it an advantage of utilising advanced and updated technologies.
Crypto lending has lately become a very dynamic niche with more than $35 billion Total Value Locked in DeFi Lending protocols. Ethereum dominates this space, but the network has its own issues like scalability, speed, and less cost-effectiveness. And to solve these issues, 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 collateral, trustless custody, and augmented lending liquidity. It had a primary objective to unveil the next generation of fast, seamless, and secure crypto lending.
The Unique Characteristics of AdaLend:
A Distinct Framework:
This protocol focuses on improving the efficiency of capital flows managing various lending pools through $ADAL, the native token. Each of these pools has varied elements like liquidation model, borrowing and lending interest rate, and utilization ratio.
Stimulated Liquidity
Attracting Liquidity Providers to stake assets in the pools is a must for the DeFi lending platform to enable lending. AdaLend platform addresses this by offering LPs strong incentives and APY for depositing assets and boosting lending liquidity.
Dynamic Lending Alternatives
Lending in AdaLend is entirely permissionless, trustless and can be done on any token pairing. The protocol’s governance makes sure that the best offers…
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