🐂 Not all bull runs are created equal. November’s AI picks include 5 stocks up +20% eachUnlock Stocks

DeFi lending protocol created by ex-QuadrigaCX co-founder surpassed $50M in TVL

Published 09/26/2022, 01:30 PM
Updated 09/26/2022, 03:00 PM
DeFi lending protocol created by ex-QuadrigaCX co-founder surpassed $50M in TVL
ETH/USD
-

According to DeFi Llama, UwU Lend, a decentralized finance, or DeFi, protocol that acts as a money market on the Ethereum blockchain, has surpassed $50 million in total value locked (TVL). The non-custodial protocol was created by Michael Patryn, known by the pseudonym "Sifu," who was the co-founder of defunct cryptocurrency exchange QuadrigaCX.

UwU Lend allows users to earn interest on deposits and pay interest to borrow funds on its platform. Outstanding loans on UwU lend are overcollateralized, with more collateral backing them than debt. A small amount of fees from each transaction goes into the UwU treasury. Borrowers do not have a repayment schedule and there is no limit on loan duration.

Continue Reading on Coin Telegraph

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.