ADALend, one of the pioneering cryptocurrency lending/borrowing instruments of Cardano's ecosystem, has accomplished a major milestone.
ADALend DeFi added to IOHK's list of essential products for Cardano
According to the official statement shared with U.Today by Cardano-centric decentralized finance (DeFi) protocol ADALend, it has been added to the Essential Cardano List.
This list is curated by Input Output Hong Kong, the development studio behind Cardano (ADA) solutions.
All projects included in the list are recognized by IOHK as valuable elements of Cardano (ADA) decentralized applications ecosystem.
The Essential Cardano List is released together with an accompanying map, a central library of materials by Cardano Foundation and EMURGO.
ADALend representatives emphasized the crucial importance of this listing for the vision and progress of their application:
ADALend's inclusion in the list marks a milestone for the project and its plans to broadcast consumer awareness for the project and its features.
Empowering Cardano ecosystem with cutting-edge DeFi products
ADALend is set to introduce novel lending/borrowing practices to Cardano's dApps ecosystem. As a community-governed architecture of products, it empowers ADA holders with access to blockchain-based loans and collaterals.
As covered by U.Today previously, ADALend recently hired fintech veteran Javed Khattak as its General Manager.
Also, on Sept. 9, 2021, it secured a total of $540,000 from a clutch of high-profile investors within its private sale.