This article was first published on Wanchain - Medium
WanLend — The First Cross-chain Lending Platform on Wanchain Is Live!
WanLend is the first ever Wanchain based decentralized lending platform, and it goes live today!
This is the second major DeFi DApp to go live on Wanchain since the launch of Wanchain 5.0, the first being the Uniswap instpired AMM DEX, WanSwap.
WanLend is LIVE now at: https://wanlend.finance/
What Is WanLend?
WanLend is the crypto lending platform built on Wanchain which takes advantage of Wanchain 5.0’s cross-chain features. WanLend is developed, deployed and operated by WanLabs, and it is the first decentralized cross-chain lending application in the Wanchain ecosystem.
WanLend fully draws from Compound’s code and design, and relies on similar algorithms to calculate the supply rate and borrow rates of each cryptocurrency in accordance with the supply and demand.
At launch WanLend supports supply and borrow features for WAN, wanBTC, wanETH, wanUSDT, wanUSDC, and FNX. In the future WanLend will support more cross-chain tokens (e.g., XRP, DOT) and native Wanchain DApp tokens.
Cross-chain wanTokens can be obtained by converting native tokens through WanWallet Desktop and wanBridge Web, or can be traded for through WanSwap. Right now, users can use WanMask to operate WanLend. WanLend will be integrated into WanWallet Desktop and WanWallet Mobile in the future.
Assets put up by suppliers are pooled together. Using on chain pool management ensures the maximum liquidity of the funds, and also guarantees the security and transparency of the assets. The supplied assets can be withdrawn at any time once after being deposited, which greatly facilitates the flexibility of funds for an individual supplier.
Borrowers supply certain approved assets as collateral on WanLend. WanLend calculates the borrow rate in real time — the rate is transparently determined by the on chain supply and demand for different assets....
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Wanchain - Medium