The long-awaited lending/borrowing platform on Proton is open for users.
Proton Loan is a new decentralized lending market built on the Proton blockchain. Utilizing the cross-chain capabilities of Proton wrapped xTokens, Proton Loan opens up a new possibility for borrowing and lending against multiple blockchains that were not previously accessible on Ethereum or other blockchain protocols.
As always, because this is built on the Proton blockchain, there are no gas fees for Proton Loan.
By using a system of smart contracts powered by the Proton blockchain, users can request and fulfill loans using cryptocurrency without the need for a central mediator and without regard for the parent blockchain protocol of the requested asset. That means a cryptocurrency lending marketplace that is decentralized, accessible, and powerful.
There are two more things besides the platform itself:
It's undoubtedly the news of the month! 👊
Find out more information in the official announcement.