ETHLend Reaches Record Breaking — Over 12,000 ETH Lending Volume
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This past month has been a total whirlwind at ETHLend. Recently, we launched our latest version of our decentralized application Alpha 0.3 (Kogia) to the Ethereum Testnet and we added a very important milestone on our journey: we will start licencing process on lending activities to expand the current business model to FIAT lending.
We are thrilled to share that the latest versions of our dApp (Alpha 0.2.0 and Alpha 0.2.1 codenamed Omura) have reached a record breaking of 12,000 ETH in lending volume. The volume has doubled since our latest update on March 22nd when we announced reaching 6,000 ETH in loans, which shows a compelling increase in the transactions and size of loans.
The ETHLend team thanks the community and all borrowers and lenders to make the decentralized lending market come true.
Lending Statistics
ETHLend team is currently building a statistics module for the decentralized application. We are delighted to announce insights of the current lending activity. During Alpha 0.2.0 the lending volume reached 3,500 ETH and our current Omura version has already reached 8,500 ETH. We estimate it to reach 10,000 ETH before the Kogia main net release, bringing the total to 13,500 ETH in volume.
Coming Next: KOGIA Alpha 0.3
Alpha 0.3 Kogia release is right down the corner. In this new version you will find some improvements:
With the upcoming version paying an installment on the loan will result in LTV ratio decreasing. LTV will also naturally decrease in case of Borrower refilling the collateral, which is a new feature introduced on this version. Both of these introductions will help protect Borrowers position and avoid collateral calling.
Alpha 0.3 will also introduce much anticipated new and improved user interface and also improved usability by mobile devices. New version is more user friendly and while we wait the release of main net users can go and test our test net version to get acquainted with the new features.
Also last, but definitively not least new version will introduce LEND as Method of Exchange and by doing it will enable the users to use our decentralized application with zero fees.
