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Cardano to get its first lending platform soon

On Aada Finance, users will be able to lend bonds via Cardano NFTs.

By Finst News
• 3 min read
Cardano to get its first lending platform soon

On Aada Finance, users will be able to lend bonds via Cardano NFTs. The launch is planned for mid-September and will happen via an airdrop.

The latest safety check (audit) for the mainnet launch has been successfully completed, the team behind the project announced on August 30, 2022. On Aada Finance, users can lock in deposits from borrowers and lenders into NFT bonds. A deposit is a savings account where you lock your money for a set period. These can be repaid by anyone who holds the underlying NFT and meets the loan terms.

This feature represents a "brand new financial instrument," according to the website.

The platform launch will be tied to an airdrop. Users will receive ADA as a gift if they meet certain conditions. Cardano is currently on the doorstep of a historic update, Vasil. With Vasil, the platform will become thousands of percent faster, making mass use feasible. The upgrade is planned for mid-September.

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