Innovative lending platform, Apricot Finance, to give users easier access to cross-margin farming, a brand new concept in DeFi, with the launch of their mainnet.
Apricot Finance is a groundbreaking concept that seeks to challenge the status quo in the global financial system. The new lending protocol built on Solana recently announced plans to launch their public mainnet on October 19th. The move is in line with the goal of Apricot Finance to help users maximize their yields while also remaining protected.
The game-changing Apricot Finance ecosystem comprises Apricot Lend, Apricot X-Farm, and Apricot Assist, with each tool having unique functionalities to meet the varying needs of users and form part of a comprehensive DeFi lending package. Apricot has already been audited by Halborn Security, amidst plans to work with other security firms to complete additional security audits of their smart contracts.
The Apricot Finance project is designed to provide a comprehensive lending platform for different categories of users, allowing investors to cross-margin yield-farm while reducing the downside risks. The ecosystem is built on Solana to take advantage of its relatively low cost and fast transactions, ultimately creating a next-generation experience for users.
Apricot Lend is the first part of the ecosystem, with the tool designed to provide lending and borrowing to users. It also serves as the pivot for all other tools on the platform, allowing users to deposit selected crypto assets and subsequently earn interest. Users can also borrow from the platform, with their deposited assets as collateral. The major distinction between Apricot Lend and other protocols is its cross-margin functionality, allowing users to deposit any digital asset to enjoy borrowing power.
Apricot Cross Farm, otherwise known as X-Farm, is another layer of the solutions offered by Apricot. The service is designed to allow users to enter into yield farming leveraged 3-times even without an underlying token.
Users are allowed to deposit any crypto asset and use them to contribute to a pair, with many of the first pairs being stable coins or pegged assets to mitigate the risk of impermanent loss. The X-Farm does not require conversion, ultimately optimising the process and allowing users to remain in control of their assets.
Apricot Assist is the final part of the ecosystem designed as a fully customisable tool to protect Apricot investors from liquidation. The investment protection tool allows users to take decisions as regards the sale and redemption of their collateral assets.
The fully programmable tool triggers if the underlying collateral asset falls in value. Apricot Assist will allow users to automatically manage their own risk and maintain their positions even when they are not on the Apricot platform.
Apricot Finance has already started to gain attraction from different people, receiving $4 million in the latest financing round. The team has also announced plans of releasing a security audit report by Halborn Security possibly before the public launch of Apricot’s mainnet. There are also plans to release additional security reports a few weeks after the public launch and the contract will remain a closed source to ensure the safety of investor funds until the audits are completed.
Apricot Finance is a next-generation protocol built on Solana and designed to give users access to leveraged yield farming whilst simultaneously giving them the tools to minimize their downside risk. Apricot is committed to ensuring the safety of all value locked in their smart contracts as substantiated by the release of security audits from blockchain security firms.
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