Kaunas, Lithuania, September 13, 2022, ZEXPRWIRE, Aada Finance, a non-custodial lending protocol, is live and open for business on the Cardano mainnet. The app is the first platform of its kind to enable the lending and borrowing of native Cardano assets. Additionally, the protocol introduces a new NFT bond feature that allows users to transfer and trade loans in the open market.
“We are excited to launch the Aada Finance protocol and facilitate new DeFi use cases by lending and borrowing on Cardano. Peer-to-peer is the right way to leverage blockchain, and we plan to take full advantage of the eUTxO model. Ultimately, our main goal is to provide efficient lending and borrowing – a solution that the Cardano community has been eagerly awaiting for several months,” said Mantas Andriuska, co-founder of Aada Finance.
Following in the footsteps of DeFi innovation
The launch of Aada’s V1 protocol aligns perfectly with the sentiment of the pre-Vasil hardfork. But aside from relying solely on its first-mover advantage, the lending platform stands out from the crowd with its new NFT bond strategy.
As the most important feature under the team’s belt, NFT bonds bring innovation to DeFi by tokenizing loans in the form of NFTs. In turn, lenders and borrowers can transfer and sell their loans, giving way to the role of liquidator in DeFi.
About Aada Finance
Aada Finance is a decentralized lending protocol built on the Cardano blockchain. It uses the eUTxO model of the network leveraging peer-to-peer lending and borrowing primitives. The main features of the protocol combine multi-asset loan applications with an innovative NFT obligation mechanism. The latter allows users to transfer and trade loans, giving them the ability to become liquidators.
About Aada Finance
The past year has seen lively development activity in the Cardano ecosystem, and Aada has been no different. While the blockchain has yet to see the launch of the majority of its DeFi dApps, Aada Finance has managed to leverage first mover advantage. By becoming the first fully-fledged lending and borrowing protocol on the blockchain, the platform paves the way for wider adoption of the Cardano ecosystem.
For more information about Aada Finance and the Aada Finance V1 application, please follow the links below:
Name: Mantas Andriuska
E-mail: [email protected]
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