Cryptocurrencies are not just a tool for investing, trading or staking. Innovations brought many new opportunities, such as lending and borrowing which is very common in traditional finance. However, decentralized finance (DeFi) offers this type of service in a decentralized and more profitable way for its users. Larix is a finance protocol that provides these kinds of possibilities. Let’s look at LARIX.
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What is Larix Protocol
Larix, the ultimate lending gateway on Solana, has implemented a dynamic interest rate model and created more capital-efficient risk management pools, allowing a wide range of collateral types, crypto tokens, stablecoins, synthetic assets, NFTs, and other types of assets (account receivables, invoices, mortgages, and so on) to be fully utilized in a secure manner.
In addition, the rewarding system, which is based on a carefully constructed token economy, allows for constant incentive allocation to boost demands. Recently, the project also introduced LARIX Pool to the lending launchpad. It contains 4 assets (SOL, USDT, LARIX and USDC) that users can supply to the pool and earn dynamic APY interest on their capital. After supplying and earning APY on assets, you can then borrow against those assets, as the supplied assets are used as collateral for borrowing.
In summary, you can earn interest on LARIX, use LARIX as collateral to borrow other assets, and borrow LARIX against other assets. Find out more information about LARIX Pool here. Larix also created xSOL Pool, Bonfida Pool, risk-free yield farming, and many more.
Token Information (LARIX)
The company launched its native token in September 2021 with a maximal supply of 10 billion tokens and a regular 6-figure trading volume. LARIX is available for trading on a number of well known exchanges like Gate, MEXC, Raydium, etc. Almost 45,000 people have LARIX on their watchlist according to coinmarketcap and millions of dollars (in stablecoins) are borrowed through their platform.
Conclusion
DeFi sphere is on the rise and many people discover the benefits of this space, however, DeFi on Solana is still a new and undiscovered environment that should continue to grow. Are you going to take part in this trend?
Follow Larix: Website | Twitter | Medium | Discord | Telegram
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sources: larix, coinmarket, twitter, medium
author: Rene Remsik
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
