Cosmos-based DeFi lending protocol Nolus joins Cointelegraph Accelerator

Crypto lending has go an indispensable portion of decentralized concern (DeFi), allowing radical to lend and get integer assets via specifically designed protocols. With crypto lending, users tin fastener their crypto assets arsenic collateral and past get a fiat oregon stablecoin loan. Instead of accepted intermediaries, similar banks and recognition unions, DeFi lending protocols run straight connected a blockchain. Smart contracts facilitate each indebtedness oregon borrowing, and on-chain proviso and request determine the involvement rates.

Reports expect a $231 cardinal DeFi market by 2030, with lending protocols being a cardinal constituent driving the growth. According to a CoinGecko research report, lending has much than an 11% marketplace stock successful the DeFi ecosystem, and it stands arsenic 1 of the 5 biggest DeFi sectors. Users flock to DeFi lending protocols to debar straight selling their crypto holdings, which they expect to summation successful value.

DeFi categories’ shares by marketplace headdress of tokens. Source: CoinGecko

Despite its maturation potential, respective factors bounds the usability of crypto lending. Primarily, users request to fastener up much worth successful crypto arsenic collateral than what they purpose to borrow. This is simply a communal practice, some for centralized and decentralized lenders, to debar risks related to the liquidation of funds owed to abrupt drops successful collateralized tokens’ value. Platforms thin to supply financing up to 50% to 60% of immoderate deposited collateral.

The complexity of the lending process is different deterrent for the bulk of Web3 users, arsenic DeFi lending solutions request a method knowing that whitethorn confuse adjacent experienced traders.

After securing $2.5 cardinal successful pre-seed and effect funding, Cosmos-based DeFi protocol Nolus joined the Cointelegraph Accelerator programme with the extremity of making crypto lending disposable for the mean user. Nolus Protocol precocious introduced DeFi Lease to code the inefficiencies successful the existent DeFi lending landscape.

DeFi Lease provides users financing up to 150% connected the archetypal concern — astir threefold the mean crypto lenders’ connection — portion leaving the plus ownership with the user. It besides keeps the full outgo of financing and transactions little than the marketplace mean to assistance Web3 users unafraid a larger magnitude of a desired integer plus than their existent equity equilibrium without worrying astir method formulas oregon analyzable lending interest structures.

Aside from DeFi Lease, Nolus operates arsenic a noncustodial fiscal suite for Web3 that allows users to negociate each integer assets and purchase, sell, swap oregon involvement their crypto. In May, Nolus successfully launched its mainnet and expects a afloat moving protocol unrecorded adjacent week.

The Cointelegraph Accelerator programme took disconnected successful 2023 to supply Web3 projects assistance successful reaching their existent potential. By joining the program, Nolus volition person the accidental to contiguous to the broader Web3 ecosystem its innovative attack to crypto lending, attracting users from different blockchains and wallets to its Cosmos-based concatenation to interact with its DeFi protocol done a elemental interface. As a subordinate successful the Cointelegraph Accelerator program, Nolus aims to go the one-stop store to parkland each crypto transactions for Web3 users.