- AdaLend sold 1.8 million ADAL tokens in September 2021.
- The platform will also hold a launchpad public sale.
- The public sale will include BSCPad and ADAPad on March 14.
Despite the ongoing geopolitical issues affecting the space, cryptocurrencies and the DeFi market witnessed a period of substantial growth. For instance, the total value locked (TVL) of tokens in DeFi protocols surged by 357%–amounting to around $255 billion among all blockchains. What’s more, more than $2.5 trillion cryptos were traded in January 2022 alone.
In that sense, crypto lending was acknowledged to be the most dynamic niche. Supporting this detail, more than $35 billion TVL is allotted in DeFi lending protocols with 54% dominated by Ethereum. However, there are still some issues existing in the network relating to speed, cost, and scalability.
To solve these challenges, AdaLend developed a user-friendly, fully decentralized, and scalable Layer-1 platform that tackles automated collateral, instant loan approval, augmented lending liquidity, and trustless custody.
In September 2021, AdaLend sold 1.8 million ADAL tokens in less than one hour, collecting $540,000. Meanwhile on March 14 this year, the platform will be conducting a public sale on five launchpads including BSCPad and ADAPad.
Built on the Cardano network, AdaLend seeks to provide the next generation of fast, seamless, and secure crypto lending.
AdaLend Main Features
AdaLend boasts its unique architecture. It aims to enhance the efficiency of capital flows and handle several lending pools using the ADAL token. In addition, the protocol offers tokenization for deposited assets that transfers the ownership of lending positions between users instantly.
Furthermore, AdaLend provides LPs foolproof incentives and APY to boost lending liquidity and deposit assets. Additionally, the protocol also offers flexible lending options, where only the safest oracles are used to identify pricing and rates.
To add, AdaLend DAO paves the way for a democratized, fully transparent, and open access financial system. This means token holders can actively participate in the governance process, voting on proposals and determining the future of the platform.
Last but not least, AdaLend features Idle Asset Optimization that minimizes the utilization ratio for non-stable coins while maximizing token circulation. As a result, this lets the platform hit two birds with one stone–maintaining high liquidity levels for protocol users and bringing enticing lending rates for borrowers.
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