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ADALend: A Promising DeFi Lending Platform by Cardano

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  • 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 are available and that only the safest oracles are utilized to determine rates and pricing. 

Decentralized and Democratic regulation

The ADAL token holders can take part in the governance of AdaLend, contributing to the proposals and the future evolution of the platform. In addition, the DAO of AdaLend creates a democratized, entirely transparent, and open access ecosystem.

Idle Asset Enhancement

AdaLend reduces the utilization ratio for non-stable coins and increases the token circulation. It thus maintains high liquidity levels for protocol users and offers attractive lending rates. The platform further minimizes idle assets by transferring them to stable swap platforms. 

ADAL Token:

The ADAL token would be utilized for participation in the DAO, liquidity providers incentivization. It would be used as a reserved currency and can be swapped on demand for liquidity. The liquidators will be prioritized by the number of ADAl tokens they have staked and would be paid with the same for liquidation services. 

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

These top-tier IEO launchpads are focused on communities of varied blockchains. 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 suits of primary centralized and decentralized exchanges facilitating the ecosystem to be liquid and accessible to varied retail investors.

What does the AdaLend project further plan on?

The Roadmap of AdaLend highlights its plans for the year 2022. It plans to research and develop the lending platform, AdaLend Prototype Beta Launch, Article program launch, content mining, and listings on major cryptocurrency exchanges for Quarters 1 and 2 of 2022.

And for Quarters 3 and 4, it plans for MultiChain products, Liquidity Launch, Massive Use growth, and full launch of the AdaLend protocol. 

The ADAL token is not listed yet, but once it gets listed, it is all set to trade in the prominent crypto exchanges connected to the launchpads, with exposure to immediate liquidity and visibility. AdaLend seems to promise to bring a new wave in the DeFi lending space. It is to look forward to how the project will further emerge and perform. 

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