keyboard_backspace

Aada  logo

Aada Finance delivers an entirely decentralized way of lending and borrowing primitives through P2P interaction. The process allows users to create loan requests and lock up ADA as collateral to a smart contract. In turn, the lender can choose a loan from the list of overcollateralized loans and lend it through a smart contract. Loan requests are fully customizable, meaning borrowers are free to choose the loan parameters. The latter include Loan token type and size, Collateral token type and size, Loan duration, Interest, and Loan request expiration. Every borrower and lender receives B (Borrower) and L (Lender) tokens, which serve as proof of loan. The NFT Bonds are not attached to a wallet and are freely transferable and tradeable. Indeed, the beauty of the Aada NFT Bonds comes with their utility: Whoever owns the L Bond can redeem the loan and interest after the borrower returns the loan. With the B Bond, the user must repay the loan, pay the accrued interest, and receive collateral.

Category - Lend/Borrow
Release - 2021
Social -