Hope.money launches its decentralized lending ecosystem, HopeLend.
The project aims to reward all participants, including depositors, borrowers, and lenders.
Hope.money, a pioneer in bridging DeFi to CeFi and TradFi, has launched HopeLend, a decentralized lending protocol, on the Ethereum network. In an announcement this Tuesday, HopeLend, a decentralized, non-custodial lending protocol, aims to revolutionize the borrowing and lending systems across decentralized finance (DeFi) platforms, allowing users to effectively utilize and interact with digital assets within the HOPE ecosystem and across other DeFi platforms.
Regarding the launch, Flex Yang, Founder of Hope.money, said HopeLend will increase the overall liquidity across DeFi ecosystems and reward all participants on the platform to incentivize decentralized borrowing and lending services.
“The debut of HopeLend is a milestone for Hope.money, as it represents an important move toward completing its all-in-one ecosystem,” Yang said. “The non-custodial lending protocol enables all users to benefit from it by increasing liquidity for the HOPE Ecosystem through deposits, loans, and liquidations, and rewarding them with $LT.”
In addition, HopeLend will also significantly improve the capital efficiency and users’ liquidity within the DeFi space, allowing any user to borrow and lend within the protocol. This blends well with the protocol’s goals of providing frictionless and transparent financial infrastructure for everyone.
Unlike legacy DeFi borrowing platforms, HopeLend introduces a pool-based system of borrowing, whereby users directly borrow and deposit to a pool. This eliminates the need for individual loan pairing, making the process of depositing and borrowing easy and frictionless.
Hope.money aims to provide an all-in-one financial ecosystem, providing comprehensive utility for its decentralized stablecoin, $HOPE, including swaps, custodial services, clearing and settlement. The launch of HopeLend increases the utility of the stablecoin and will provide a “solid foundation for $HOPE’s future success as a stablecoin”, Yang added.
Notwithstanding, HopeLend will also reward every contributor on the platform (depositors, borrowers and lenders) with its governance token, $LT, adding an extra layer of benefits on top of the standard interest income and borrowing services. The rewards distribution will be calculated using the relative Gauge Weights and utilization rates of various asset pools. Apart from regular loans, HopeLend will also offer users flash loans – loans that are borrowed and paid back in one transaction without having to own the assets.
Hope.money steps up as a leading DeFi protocol
The launch of HopeLend signifies the potential of Hope.money to become a leading protocol in the broader Ethereum DeFi ecosystem. Earlier this month, the protocol added stETH in Hope.money’s reserve pool, which diversifies the assets on the protocol and strengthens the utility and value of $HOPE stablecoin.
Additionally, the platform is enhancing the security of users’ funds by forming partnerships with established and trusted digital asset custodians. Following its partnership with Coinbase Custody in April, Hope.money announced a strategic partnership with Cobo, another leading digital asset custodial services provider.
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