Nolus will include volatile base currencies as part of the upgrade.
The upgrade is expected to draw interest from DeFi traders, yield farmers, and security-conscious crypto investors.
Nolus, a cross-chain lease protocol has announced a significant platform upgrade for Q3 that aims to alter how DeFi users engage with the ecosystem. Nolus, a safer alternative to high-risk crypto lending platforms, will include volatile base currencies as part of the upgrade.
Through enhanced hedging capabilities, new revenue sources, and lower operating costs, the protocol seeks to promote a dynamic and liquid ecosystem.
Kamen Trendafilov, Co-Founder and CEO of Nolus Protocol:
“One of the strengths of our team is our commitment to continually improving the protocol to meet the ever-changing needs of the DeFi landscape. I’m confident that the community will appreciate the exciting new features we are introducing.”
The ability for borrowers to use volatile assets as base lending currencies, such as Bitcoin, Ethereum, and more, is a crucial component of the upcoming release. This allows liquidity providers of the volatile currency to earn handsome rewards while they wait for the asset’s price to increase, allowing borrowers to open sell or short positions on the asset. The best thing about it is that neither the lending nor the borrowing sides are subject to restrictions or lock periods.
In order to effectively manage changing circumstances, borrowers will have the ability to leverage volatile assets, whether they are hedging against market swings or profiting on negative trends. By choosing to participate in these volatile asset pools and earn high rates, lenders also gain.
The volatile markets will be progressively brought in over the course of the year in order to guarantee an optimal rollout, and Nolus will continuously refine the features based on user input.
With $3.5 million funded in seed and strategic rounds, Nolus’s recently disclosed plans and developments drew in more investors to the protocol. Interop Ventures and Black Alpha Capital have been added to the protocol’s extensive roster of seed investors, which already included Autonomy Capital, Token Metrics Ventures, Cogitent Ventures, Dorahacks, and BlockBuilders, during the previous two months.
The protocol update is expected to draw more interest from DeFi traders, yield farmers, and security-conscious crypto investors who value Nolus’ sophisticated security features and safer lending approach in the market. Nolus has over 50,000 community members and $60 million in transaction volume.
