Cardano Spotlight #6: Liqwid Finance
Overview:
Liqwid Finance is the premiere lending and borrowing protocol on the Cardano blockchain. It is one of the first services that springs to mind when I think about the purpose of decentralized finance. Permissionless borrowing. No lock ups, no time limits, no rules beyond the provision of capital as collateral to back your loans. At the time of writing, Liqwid is the third largest protocol in Cardano DeFi behind Indigo and MinSwap. During the span of the bear market, the dev team behind the project have worked tirelessly to bring a solid DApp to the market. I admire this because there is so much drama in this space and this team, without espousing it, embody what I believe our financial future to be, mature DeFi. The protocol provides simple services that are accessible to everyone with a computer, a Cardano native wallet and an internet connection. Currently, it is possible to lend both Cardano native assets and some stable coin assets bridged over from other chains. So far as I can tell, they are the first lending protocol on Cardano to provide access to blue chip stable coin assets such as USDC, USDT and DAI. However, due to Circle’s recent announcement that they are pulling out of the Tron ecosystem, I suspect that they may have to reconsider offering this product in the short term.
Features:
