Nolus, a cross-chain leasing protocol known for its safer alternatives to high-risk crypto lending platforms, is set to launch a major upgrade in Q3 that will change the way users interact with its ecosystem and foster decentralized finance (DeFi).
Users will be able to borrow and lend assets such as Bitcoin (BTC) and Ethereum (ETH) as base lending currencies thanks to the introduction of volatile base currencies in this release.
The goal of this enhancement is to make the ecosystem of DeFi traders, yield farmers, and security-conscious investors more dynamic and liquid by opening up new revenue streams, providing sophisticated hedging possibilities, and reducing operational costs.
A major update feature allows borrowers to use ethereum assets like Bitcoin and Ethereum as their base currency. As a result, customers can initiate long or short bets on these assets, and liquidity providers can profit by monitoring an increase in the value of the assets. The platform will offer users the greatest possible flexibility by imposing no restrictions or lock-up periods on lending or borrowing.
Kamen Trendafilov, Co-Founder and CEO of Nolus Protocol, expressed his confidence in the new features, saying, “One of our team’s strengths is our commitment to continuously improving the protocol to meet the ever-changing needs of the DeFi landscape. I am confident that the community will enjoy the exciting new features we are introducing.”
Nolus will gradually integrate erratic markets throughout the year, taking into account user feedback to improve features based on user experience and market situations, in order to achieve a seamless deployment.
Nolus has secured $3.5 million in seed and strategic funding in addition to platform enhancements. Token Metrics Ventures, BlockBuilders, Autonomy Capital, and Black Alpha Capital are among the backers that have joined Interop Ventures and Black Alpha Capital as new investors.
With a transaction volume of $60 million and a community of over 50,000 members, Nolus is establishing itself as a major force in the DeFi market.
Traders and investors who value security and adaptable choices to navigate the erratic cryptocurrency market are expected to pay even more attention to the launch of volatile base currencies.
Also read: Trump family’s DeFi project pushes forward with US-pegged stablecoins
