Simply put – Aada is crypto assets lending platform. Smart contract allows to deposit assets and collect interests or borrow assets and perform financial actions.
Aada is a decentralized money market protocol that enables users to lend and borrow cryptocurrencies in a trustless manner. There is a wide variety of cryptocurrencies to choose from. With addition of Cardano ERC20 converter, Aada will bring must-have functionality to DeFi ecosystem.
Cardano ERC20 converter will bring massive asset amounts into the cheaper-to-transact Cardano blockchain. The converter will allow issuing organizations and their users to handle ERC20 token migration to Cardano. Users can convert their Ethereum tokens in just a few clicks, and when moved across, these tokens will be ‘translated’ into a special native token on Cardano that has the same value and works just like an ERC20.
Using pooled lending mechanism we are able to make lending easier and more available. Pooled assets make it easier to borrow and pooled assets can be used for other functions such as Flash Loan.
Aada is first of its kind DeFi lending protocol on Cardano. Using Aada you can:
- Lend and earn interests
- Borrow by providing overcollateralized assets
- Borrow undercollateralized (a.k.a flashloan)
- Swap deposited assets. Flashloans will allow to instantly swap deposited assets without withdrawing and re-depositing
With extremely low transaction fees and the most valuable financial functionality – lending, Aada is expected to attract large user adoption and token holders.