The lending market and DeFi lending have grown significantly in volume as new lending protocols continue to attract capital and NFT-backed loans become more popular. According to Dune Analytics, the top three platforms in terms of market capitalization are Aave (AAVE), Maker (MKR) and Compound (COMP). These platforms, however, still face problems with collateral requirements and volatile digital assets.
What is Hashstack Finance? and the solution has to give.
Hashstack Finance is a DeFi platform that with the Open protocol aims to change the DeFi lending market for the better, offering loans up to 3 times more. The Hashstack solution was released on the Binance Smart Chain network but supports bridging elements from the c-chain of Avalanche and Ethereum. Hashstack integrates with other DeFi solutions, such as PancakeSwap, to facilitate in-app market exchanges and improve loan utilization. This means that borrowers can exchange borrowed tokens for other major currencies or secondary currencies without having to change the DApp.
How Hashstack Finance works.
The Hashstack Open Protocol is the only stand-alone lending solution at DeFi that allows unsecured loans with up to 1: 3 loan-to-loan ratio. For example, using only $ 100 as collateral, a Hashstack customer can receive a $ 300 loan. In this case traders can withdraw $ 70 while using $ 230 as trading capital within the platform. The classic method we know from other Defi platforms to get a loan is to deposit $ 140 as collateral to get a $ 140 loan so this is something that people did not want and the hashtack Finance came to change it.
Hashstack Finance financing.
Following the release of the open protocol test network, Hashstack Finance has enthusiastically announced the closure of a $ XNUMX million financing cycle that will be used to grow the network and grow the community. Dozens of well-known investors participated in the financing cycle including MarketAcross, GHAF Capital Partners, Moonrock Capital, Kane and Rao Group, Nimrod Lehavi, and ChainRidge Capital.
Vinay, founder of Hashstack Finance, said:
"Bringing security to DeFi is crucial to our mission at Hashstack. We are grateful that we are backing some of the smartest money in this ecosystem. The funds raised will be used for talent acquisition, product development and development. "
Kevin Kurian, general partner of Kane and Rao Group, said:
"Getting the maximum value out of your assets is essential in any market. Hashstack offers a solution the market has never seen before. We support Vinay and his team at Hashstack with our chapter to promote these new ideas. "
Website: https://hashstack.finance/
