IOLEND Emerges as a Prominent DeFi Player on the IOTA Network, Offering Innovative Lending Solutions

IOLEND has emerged as a prominent decentralized finance (DeFi) player, offering innovative lending solutions on the IOTA network's Ethereum Virtual Machine (EVM).

IOLEND has emerged as a key decentralized finance (DeFi) player, offering novel lending solutions on the IOTA network’s Ethereum Virtual Machine (EVM). The protocol stands out with its use of $ETH, $USDT, and $IOTA as collateral, setting it apart from other DeFi platforms.

Built on the RDNT Capital fork, IOLEND boasts the reliable structure of Aave. This enables users to feel confident in the security and stability of the platform. The protocol allows users to effortlessly deposit and withdraw assets, with interest rates determined by market forces.

Discovering IOLEND 🌐

I’ve been exploring new DeFi opportunities on @iota since they launched their EVM.

One protocol that stands out is @IOLENDfi—the first lending protocol using $ETH, $USDT, and $IOTA as collateral.

Let’s dive in! 🧵 pic.twitter.com/Ub6nFi0sf4

— That Martini Guy (@MartiniGuyYT) August 26, 2024

One of IOLEND's strengths is its low APRs in the market. For instance, users can receive 250% APR on eth loops and 275% APR on usdt loops. These high yields are further complemented by native rewards in $IOL, the governance token of IOLEND. The additional $IOL rewards boost the overall yield, making it an appealing option for yield farmers looking to maximize returns.

IOLEND also integrates bridging options through Stargate, enabling users to seamlessly move $USDT and $ETH to the IOTA EVM. Once assets are bridged, users can participate in liquidity pools (LPs), specifically the IOL-IOTA LP. By locking their IOL-IOTA LP tokens, users can earn real yields in $USDT, $ETH, and $IOTA.

The lockup period can last from one month to a year, and the return can be up to 100% APR. The platform also encourages interaction with LPs by rewarding emissions in the form of $IOL tokens to ensure that the users remain active and liquid.

In recent developments, the European Commission has been setting the stage for a future of scalable, sustainable, and secure blockchain solutions across the European Union. The Iota Foundation has recently revealed that the last stage of the EU’s blockchain Pre-Commercial Procurement (PCP) has been successfully completed with the participation of seven other entities.

Iota’s accomplishment in this phase allows the foundation to participate in the future of blockchain infrastructure under the new European Digital Infrastructure Consortium for Blockchain (EUROPEUM-EDIC). The third phase includes partnering with local organizations such as Software AG and the Universidad Politécnica de Cataluña.

IOTA Lists on MEXC Exchange in Assessment Zone, Commences Open Trading IAs previously reported by CNF, MEXC recently announced the IOTA (IOTA) listing in its Assessment Zone, with trading set to begin today. The new trading pair, IOTA/USDT, will allow users to engage in open trading on the exchange.

MEXC launched the Assessment Zone in 2020 to list projects recommended by its users, not only for the initial listing on the platform. Projects contained in this zone are subjected to a 60-day evaluation period. Following this period, tokens may be suspended or become inaccessible until the community renews them through a vote using MX.

IOTA, notably, declined by 4% in the last 24 hours and 4.6% over the past week, reaching $0.1285. However, IOTA’s trading volume increased by 3%, with $7.6 million traded at the time of the report.