CardanoCube.io recently listed ADALend, which is a Cardano-based decentralized lending platform. It uses the Cardano blockchain. The listing is preceded by ADALend’s announcement, where they shared the intention of using Plutus Application Backend (PAB) to continue the development of the platform.
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What Does this Mean for ADALend
ADALend, a Cardano essential app, has been on the market since its recent launch. ADALend has been busy with the development of the app and providing details about its goals to the community. ADALend intends to keep the communities informed about the progress of the project as they become available.
ADALend
ADALend has developed a trustless and scalable decentralized lending protocol. It allows users to be protected in a controlled environment. ADALend Protocol is built on Cardano Blockchain, which allows the platform to combine protocols that help business models give economic support to billions.
ADALend will balance the power of lenders and borrower. Digital assets can be used as collateral on the platform. The user will benefit from a diversification of the platform’s use.
ADALend can tap the huge digital cash management market by leveraging Cardano’s blockchain. ADALend has created a technology which allows any person to transfer their digital cash, and makes it available for loans. This opens up new opportunities for Blockchain-powered liquidity.
Input-Output Hong Kong (IOHK) has listed ADALend on their “Essential Cardano List” of projects that are considered part of the ecosystem supporting and providing Cardano users with products and services.