ADAlend.finance, a protocol that brings decentralized lending to the Cardano blockchain, made its own sale in less than an hour.
Seven private angel investors purchased the entire initial allocation of 1.8 million ADAL original tokens from Cardano for $540,000.
Seed round is oversubscribed by 400%
Reflecting the huge demand for original, high-quality Defi projects on Cardano, and the perfect timing with the launch of ADA smart contracts that came close to the corner with the Alonzo upgrade, the initial ADAlend round was oversubscribed by 400%.
Those who did not reach the incorporation stage were whitelisted for private sale.
ADALend governed by DAO
ADALend is building a scalable and decentralized lending protocol on Cardano, governed by DAO and ADAL, Cardno’s original token.
So far, Ethereum-based platforms like Aave have dominated the Defi lending space, but the team at ADAlend believes the time is right for a change of guard.
The speed and low transaction costs of Cardano (compared to the exorbitant gas fees on Ethereum) make the Blockchain ideal for building a democratic lending platform for anyone in the world who wants to borrow dollars without spending cryptocurrencies or earning the market—beating the yield on their digital assets.
The Adalend Protocol will power the new wave of flexible financial markets
Cardano is the market leader in point of sale as a set of protocols for economic support to billions of people.
Over the past decade, the decentralized finance (DeFi) space has been forced to evolve to keep pace with the evolution 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 about the ongoing private sale, and how you can apply for a customization, please email our team at [email protected]