The protocol introduces a novel NFT bond feature that enables 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 through lending and borrowing on Cardano. Peer-to-peer is the right way to build on the blockchain, and we plan to take full advantage of the eUTxO model. Ultimately, our main objective is to provide efficient lending and borrowing – a solution the Cardano community has eagerly anticipated for the last several months,” said Mantas Andriuska, Co-Founder of Aada Finance.
Following in The Footsteps of DeFi Innovation
Aada’s V1 protocol launch aligns perfectly with the pre-Vasil hardfork sentiment. But apart from relying merely on its first-mover advantage, the lending platform stands out from the crowd with its novel NFT bond strategy.
As the most significant 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 liquidator role in DeFi.
About Aada Finance
Aada Finance is a decentralized lending protocol built on the Cardano blockchain. It utilizes the network’s eUTxO model by leveraging peer-to-peer lending and borrowing primitives. The primary features of the protocol combine multi-asset loan requests with an innovative NFT bond mechanism. The latter allows users to transfer and trade loans, giving them the chance to become liquidators.
The past year has seen lively development activity in the Cardano ecosystem, and Aada has been no different. While the blockchain is yet to see the launch of the majority of its DeFi dApps, Aada Finance managed to leverage the first-mover advantage. By becoming the first fully-fledged lending and borrowing protocol on the blockchain, the platform paves the way for a broader adoption of the Cardano ecosystem.
For more information about Aada Finance and the Aada Finance V1 app, please follow the links below:
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