Nolus, a cross-chain lease protocol known for its safer alternatives to high-risk crypto lending platforms, is set to launch a major update in Q3 that will change the way users interact with its ecosystem and promote decentralized finance (DeFi).
Users will be able to borrow and lend assets such as Bitcoin (BTC) and Ethereum (ETH) as base lending currencies thanks to the introduction of volatile base currencies in this version.
This enhancement’s goal is to make the ecosystem for DeFi traders, yield farmers, and security-conscious investors more dynamic and liquid by opening up new revenue sources, offering sophisticated hedging possibilities, and lowering operational costs.
One important update feature lets borrowers utilize ethereal assets like Bitcoin and Ethereum as foundation currency. As a result, customers can initiate long or short bets on these assets, and liquidity providers can profit as they watch for an increase in the assets’ value. The platform will provide users the most flexibility possible by not imposing any restrictions or lock periods on either lending or borrowing.
Kamen Trendafilov, co-founder and CEO of Nolus Protocol, expressed confidence in the new features by saying, “One of the strengths of our team is our commitment to continually improving the protocol to meet the ever-changing needs of the DeFi landscape. I’m confident that the community will appreciate the exciting new features we are introducing.”
Nolus will progressively phase in the erratic markets over the year, taking user input into account to improve the features for user experience and market situations, to achieve a seamless rollout.
Nolus has secured $3.5 million in seed and strategic fundraising rounds in addition to the platform enhancements. Token Metrics Ventures, BlockBuilders, Autonomy Capital, and Black Alpha Capital are among the backers who have joined Interop Ventures and Black Alpha Capital as new investors.
With a $60 million transaction volume and a community of more than 50,000 members, Nolus is establishing itself as a major force in the DeFi market.
It is anticipated that traders and investors who value security and adaptable choices for navigating the erratic cryptocurrency market will pay even more attention to the launch of volatile base currencies.
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