ADALend builds a native Cardano, scalable and decentralized lending protocol
ADAlend.finance, a protocol that brings decentralized loans to the Cardano blockchain, has just sold its private sale in less than an hour. Seven private angel investors bought the entire starting allocation of 1.8 million Cardano native ADAL tokens for $ 540,000.
The starting round was 400% oversubscribed
Reflecting the huge demand for high quality Cardano native DeFi projects, and the perfect timing with the launch of ADA smart contracts with the Alonzo upgrade , the ADAlend funding round was 400% oversubscribed, and those that did not reach the seed stage werewhitelisted for private sale.
ADALend is governed by a DAO
ADALend is build a pscalable and decentralized loan rotocol on Cardano, governed by the DAO and based on a pure native of Cardno ADAL token. So far, Ethereum-based platforms like Aave have dominated the DeFi lending space, but the ADAlend team believes now is the time to change the guard.
The speed and low transaction costs of Cardano (compared to the exorbitant gasoline charges on Ethereum) in make the perfect blockchain on to build a democratic lending platform for anyone in the world who wants to borrow dollars without spending their crypto, or earning an above-market return on their digital assets.
Adalend protocol will fuel new wave of flexible financial markets
Cardano is the market leader in PoS as a collection of protocols for the economic support of billions of people. During theIn the last decade, the decentralized finance (DeFi) space has been forced to evolve to keep up with the development of the digital asset market. The Adalend protocol will fuel the new wave of flexible financial markets by providing a layer for instant loan approval, automated guarantees, trustless custody and liquidity.
To learn more about ADAlend 's vision and mission, please visit: https://adalend.finance/
To learn more about the current private sale and how to request an allowance, please email the team at [email protected]