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- Hard protocol will launch its money market version 2 by next week
- Since its launch the protocol remained a bigger success in the DeFi ecosystem
- The project has launched its incentivized testnet where the participants can get a share of its reward pool worth $10k
Hard Protocol, the world’s first cross-chain money market, will launch its Money Market version 2.0 on March 24 2021 at 15:00 UTC. HARD Protocol is a logical addition to the decentralized finance (DeFi) ecosystem. The first version of the protocol remained a bigger success, and it is expected that the upcoming version will again lead in the market.
The protocol had already launched its Kava 5 mainnet. Moreover, the protocol also revealed the successful launch of its HARD version 2.0 incentivized Testnet.
Hard Protocol remained a bigger success
Since Hard protocol was introduced in October last year, it has been evolving into a very competitive money market. The DeFi money market has already attracted mainstream attention being the first cross-chain DeFi solution available. Presently, no other decentralized solution offer anything on such a level. On the other side, the Hard protocol is the biggest cross-chain project to date. However, it is smaller than other DeFi platforms leveraging the Ethereum blockchain.
The protocols version 2 incentivized testnet is live
Hard protocol has launched its incentivized testnet version 2 on March 17. It is expected that the competition will continue until March 24 at 08:00 EST, before the launch of money market version 2. The users participating in the incentivized testnet will be able to receive a share from the reward pool of $10k in the protocol’s utility token HARD. It is known that the first winner will get $1,500. However, up to the 25th position, the participants will be able to win up to $100. Further, participants finishing in positions 26-100 will be sent to a raffle to win one of ten prizes of $15 worth of HARD tokens.
What are the core aspects of the money market?
The hard protocol money market is somewhat similar to Aave. However, Hard supports more coins like BTC, XRP, USDX, BNB, etc. The project runs on an interoperable Kava, which helps its users to supply and borrow numerous coins for better results.
Furthermore, there are three core aspects of the DeFi project. The first aspect is the supply side, where users can provide liquidity to earn interest without the requirement of managing liquidation risks. Secondly, the borrowing side, where the borrowers can lock their virtual holdings as collateral and take out loans. And the last aspect is both the suppliers and borrowers can receive the HARD governance token as an incentive for participation.
However, seeing the current scenario and the dominance of the Hard protocol money market V1, it seems like the upcoming version will boom. Indeed, the DeFi money market is having a long way to go.
