#OnChainLendingSurge – is a term that can describe the sharp rise or popularity of decentralized blockchain-based lending platforms (on-chain lending). Such platforms allow users to lend and borrow using smart contracts, without the need for traditional banks or centralized organizations.
Key features of OnChainLendingSurge:
1. Decentralization: All transactions occur directly between users via the blockchain.
2. Transparency: All data about loans and interest rates is stored on the blockchain, ensuring transparency.
3. Automation: Smart contracts are used to automatically manage the processes of borrowing, repayment, and liquidation.
4. Accessibility: Such platforms are open to users worldwide, with no geographical restrictions.
5. Growing popularity: In recent years, DeFi (decentralized finance) has been actively growing, along with lending platforms like Aave, Compound, and others.
