Decentralized finance popularly known as DeFi is creating a loud buzz in the blockchain space by revamping the entire financial system with modern blockchain technology.
Wide attention & popularity hit by DeFi in the current day makes an astonishing change in finance systems by operating it in the decentralized network.
Now, let’s discuss one of the most heard-about concepts in DeFi - lending & borrowing services.
Get complete guidance with ASSETFINX about the latest trends in the market of different financial Instruments with our defi lending and borrowing platform service.
By utilizing the open-source DeFi protocols, ASSETFINX creates decentralized lending and borrowing platforms like Aave, Compound, and more is termed as DeFi Lending and Borrowing Platform development.
As Lending and borrowing are the major use cases of DeFi protocols, ASSETFINX crypto company started extending our services to provide DeFi-related lending and borrowing development services.
We ASSETFINX, provide inbuilt benefits for lenders and borrowers with the defi Lending and Borrowing Platform which makes the platform more attractive in the crypto market.
How Does DeFi Lending/Borrowing Platform Work?
1. Our p2p lending platform enables lenders and borrowers to connect with ease and efficiency. Lenders can give out loans to any individual who requires it and fits the basic requirements of the platform.
2. When the process is started, the smart contract verifies and authorizes the borrower to request a loan.
3. Once the precondition is met, the smart contract is self-deployed to carry out the loan unless the lender and borrower stop the process.
4. The transaction is carried out and an unchangeable history of the transaction is stored in the blockchain for later access
1. The loan request is documented by the borrower. The defi borrower can take a loan with their crypto asset as collateral for the repayment of the loan.
2. The loan is verified and evaluated by the smart contract and only processed after meeting the set requirements.
3. The loan transaction is carried out with express consent of both lender and borrower
4. When the amount is repaid by the borrower with the interest rate, the collateral asset is given back to the borrower.
5. The platform also allows for different types of collateral including fiat currencies and other types of assets.
Benefits of DeFi Lending/Borrowing Platform:
- Lender Passive Income
Features of defi lending and borrowing platform that we provide:
Defi platform allows its users to borrow assets and execute them and pay back at the end of the pretermed period.
A long period lending interest rate can vary due to the changing nature of the market therefore, borrowers have the liberty to choose a fixed interest rate if it rates high and can switch to a flexible interest rate if it goes down.
A crypto wallet is integrated into the DeFi platform.it gives you complete ownership and access to your private crypto keys.
Our user can purchase a cryptocurrency from a particular exchange and take the same cryptocurrency to another exchange margin trading is supported in the centralized system by defi lending platform. it also supports margin trading for unsupported exchange.
If cryptocurrencies are kept idle on the platform, then the defi platform allows a way to lend those assets and earn additional rewards in the form of crypto from interest over the capital appreciation.
Connect with ASSETFINX for the best DeFi Lending/borrowing development services!!!
Talk with our experts to know more about DEFI-based projects.