Community Governance: “Token holders can establish consensus by voting on governance proposals or introducing new proposals for a vote.”.ADALend addresses this requirement by incentivising users to deposit assets and provide liquidity.” Incentivised Liquidity: “Liquidity is predicated on having enough assets in each pool in order to facilitate lending.Our governance will ensure that the best offers are available and that only the safest oracles are used.” The team says that the ADA Lend protocol will “power the new wave of flexible financial markets by serving as a foundational layer for instant loan approval, automated collateral, trustless custody and liquidity.” Also, once the team has finished building a building decentralized autonomous organization (DAO), $AADA will serve as the governance token. The Aada platform will generate various fees that will get distributed to $AADA holders. The Aada team says that since “building a lending platform” takes up “a lot of resources and time”, they “decided to issue AADA tokens which will be used in Aada utilities.” Users can convert their Ethereum tokens in just a few clicks, and when moved across, these tokens will be ‘translated’ into a special native token on Cardano that has the same value and works just like an ERC20.“ The converter will allow issuing organizations and their users to handle ERC20 token migration to Cardano. “ Cardano ERC20 converter will bring massive asset amounts into the cheaper-to-transact Cardano blockchain. With addition of Cardano ERC20 converter, Aada will bring must-have functionality to DeFi ecosystem. There is a wide variety of cryptocurrencies to choose from. “ Aada is a decentralized money market protocol that enables users to lend and borrow cryptocurrencies in a trustless manner. Smart contract allows to deposit assets and collect interests or borrow assets and perform financial actions. “ Aada is crypto assets lending platform.
This article takes a brief look at five decentralized finance (DeFi) lending and borrowing protocols built on top of Cardano smart contracts: Aada ADALend Liqwid MELD and Paribus.
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