Fringe Finance, one of the most advanced lending & borrowing platforms in DeFi, has announced integration with its native altcoin, Lido DAO.
Lido is a decentralized staking solution for ETH, SOL, Kasuma, and Polygon. It can stake tokens without locking your assets within its ecosystem. Lido makes ETH 2.0 tokens fully usable across DeFi, bringing them liquidity.
This integration will allow users to take stablecoin loans and leverage $LDO without parting with their tokens.
Fringe Finance, Unlocking the Potential of Altcoins
As an inclusive DeFi lending platform, Fringe enables crypto holders to earn interest against their holdings or borrow loans against stablecoin collaterals. Its Primary Lending Platform also allows users to stake $FRIN tokens and earn a portion of the fees generated by the platform.
The advantage of Fringe as a DeFi lending platform is the ability to bet on altcoins with low liquidity and use them as collateral for stablecoin loans. Other popular platforms, such as Aave and Compound, for example, do not provide this option. The holders of its native token $FRIN can also participate in the platform’s decision-making activities. Moreover, Fringe Finance is not a gridlocked protocol. Using Chainlink Oracles, new assets are constantly entering the platform, thereby creating more opportunities for the broader cryptocommunity.
Lido: decentralized staking without locking your assets
The platform is governed by $LDO: an ERC20 token granting governance rights in the Lido DAO. Lido users get real-time secure staking rewards. When a user stakes the Ethereum token on the platform, he receives stETH (staked ETH) on a 1:1 basis. The stETH balances exactly the same uses as regular ETH across DeFi platforms, whether it’s about earning yields or other rewards.
No minimum deposits while staking are required. It resolves the issues related to initial ETH 2.0 staking regarding illiquidity, immovability, and accessibility.
Stablecoin Loans and New Opportunities for ETH-based Assets
$LDO will appear as a collateral type in Fringe’s primary lending platform through the integration. Users can leverage their $LDO positions and take out stablecoin loans against the token. It will also create more opportunities for other Ethereum-based assets to arrive on the platform and create a broader range of financing options for the DeFi community, increasing crypto adoption across the board.
This integration is the first of many, as Fringe Finance plans to list other Lido assets on the platform shortly.
Fringe Finance is an inclusive cryptocurrency lending and borrowing platform. It aims to unlock capital that is passively held in smaller cryptocurrencies: many billions can be involved. The platform offers guaranteed loans secured by stablecoins. Fringe aims to accept as collateral the widest range of altcoins on the market. Two highly qualified smart contract auditors, CyberUnit and HashEx, guarantee the safety of the user funds.