Main navigation

Cardano's First SPO Liquidity Bond Funded and Launched Successfully

Tue, 12/13/2022 - 10:29
article image
Arman Shirinyan
First of its kind DeFi product had smooth launch on Cardano network
Cardano's First SPO Liquidity Bond Funded and Launched Successfully
Cover image via

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Read U.TODAY on
Google News

The first-ever SPO Liquidity Bond had a successful launch with full funding in less than 25 minutes. For now, the first of its kind product is smoothly running on a network that had been previously marked as a place where DeFi would not be possible.

According to the bond's specifications, the current lend APY is at 5.3% ADA. The maximum duration is 72 epochs, with premium paid 12 epochs. The current value is 1 million ADA coins, funded by "stake1uxefmt" whale.

Optim Finance's products allow borrowing and lending ADA delegation rights on-chain without the help of third parties. With bonds, users are able to lend to small stakes in pools, ecosystem projects or other users and earn additional yield while contributing to the decentralization of the network.

The launched SPO Bond allows Stake Pools to rent delegation to bootstrap liquidity into their pools. There are also two additional types of bonds offered by Optim: ISO Bonds and IBOs. The first ones allow users to leverage their positions into an ISO, and IBOs help projects to fundraise without staking pool offerings or airdrop mechanisms.

As we have covered in our previous articles, Optim and other Cardano-based DeFi solutions are rapidly pushing the ecosystem toward becoming a robust environment for financial solutions, which should be a foundation for the network's market and fundamental growth during the next bull phase on the market.

Almost $2 Billion out of Binance After Criminal Charges News: Details

Such a rapid fulfillment of the first bond on the network and a growing number of ADA locked-in contracts reflects a high demand among investors for DeFi on the network, in contrast to popular opinion about Cardano's stiffness and inability to create sufficient financial projects and solutions.

article image
About the author

Arman Shirinyan is a trader, crypto enthusiast and SMM expert with more than four years of experience.

Arman strongly believes that cryptocurrencies and the blockchain will be of constant use in the future. Currently, he focuses on news, articles with deep analysis of crypto projects and technical analysis of cryptocurrency trading pairs.