Why is Larix the main lending platform on Solana?
Larix, at the time of writing, is the largest lending protocol on Solana with a total blocked value of $ 516 million (TVL) for borrowing and lending. Having adopted a dynamic interest rate model and created more capital efficient risk management pools, Larix is also considered the most secure platform among users. Larix has an arsenal of plans with a wide selection of collateral types with predetermined milestones mentioned in their roadmap, namely crypto tokens, stablecoins, synthetic assets, non-fungible tokens (NFT) and ” other types of assets (accounts receivable, invoices, mortgages, etc.), all of which can be used in a secure and decentralized manner. Additionally, the delicately designed token economy-based incentive system allows for continuous allocations to stimulate demands.
Since mid-June 2021, Larix has expanded its user base to over 300,000 unique visitors combined with a strong and growing interactive community on social networks. The trust of star investors around the world and the diverse community stems from the transparency of Larix’s financial model and security. Notably, interest rate incentives within the protocol, daily platform token distribution, and asset pool settings are all available for users to monitor in real time.
Larix was the first fully audited loan protocol built on Solana by SlowMist and with peer reviews by selected partners. On the surface, Larix offers some of the best returns in the decentralized finance lending (DeFi) industry. That being said, users earn attractive returns on the primary assets deposited in the smart protocol and can pledge them as collateral against which to borrow. As an additional utility, users are rewarded with the platform’s native token, LARIX, at rates based on the tokens they lend and borrow.
In Phase 1, Larix provides users with access to oversized isolated asset pools through which lenders and borrowers can interact with the protocol. Assets supported are limited to large cap cryptocurrencies to maintain and secure the stability of asset pools, namely Bitcoin (BTC), Ether (ETH), USD Coin (USDC), Tether (USDT), Solana (SOL), mSOL, FTX Token (FTT), Serum (SRM) and Raydium (RAY). In phase 2, Larix plans to enable a higher use of capital from a wider range of conventional financial assets. At the same time, new features collaborating with multiple partners are in the priority pipeline. In phase 3, the protocol extends the collateral base to accept NFTs and allow peer-to-peer lending across all asset classes. In general, all valuable assets in our digital portfolios should find their place and value propositions as collateral to free up cash.
Larix’s user interface design provides a smooth and seamless product experience. An original liquidation page has been added where users can participate in liquidations once collateral debt thresholds are reached.
Larix is the most liquid of all loan projects and strengthens its degree of integration within the Solana ecosystem by partnering with other related value-added DeFi protocols such as Raydium, ORCA, Tulip and Marinade. Thus, LARIX holders can generate additional returns by depositing them on interest-bearing platforms hosted by our partners. Larix is one of the fastest players in the industry with monthly updates and developments, keeping its users in the know every step of the way.
The total value locked in the protocol has also increased significantly
According to CoinMarketCap, the LARIX price is trading at $ 0.068 with a 24-hour trading volume of $ 1,291,675, at the time of writing. In addition, LARIX is currently ranked 3,108 on the market.
Due to the announcement of the double mining, as well as key events in recent months such as the Solana hackathon voting campaign followed by the ambassadors campaign the following month, the number of LARIX social media users is increased from around 3,000 to almost 24,000, a significant increase from the previous figure of around 30,000.
In addition, throughout the bug bounty test and product knowledge training program, the number of social media users increased to nearly 55,000. Finally, the launch of the main network and the Feedback bonuses have helped increase the number of users to approximately 75,000 subscribers. Now the number of social media users has reached 90,000 during the mining live event.
While Larix enjoys wide ecological support from partners and the community just one month after the mainline was commissioned, the road looks very optimistic and the team, originally from Singapore and Silicon Valley, is getting closer to its vision characterized by strong innovation. In addition to the coolest new features in Phase 2, such as liquidity provider staking, leveraged yield farming, and term loans, Larix aims to incorporate NFT leasing / lending, the margin loan and more in its model in the future.
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