ADALend has unveiled a decentralized platform that leverages smart contracts to support cryptocurrency lending and financial products controlled by end-users.
The new platform has no entry requirements, and any deposit receives a corresponding APY value set by the protocol in share tokens.
The liquidity provision is an important part of the protocol and collaborates with both internal and external oracles to set liquidity pools’ dynamic rates.
The redeem process converts the share tokens to the underlying tokens, burning the former. The underlying token goes back to the user to complete the transaction. The token would have increased in value.
The repayment operation manages the paying back of the borrowed amount and the accrued interest. ADALend protocol notes that constant upgrades would follow to maintain the system security. ADALend is seeking to streamline the lending process in the most secure way.
Source: ADALend
