Decentralized lending platform can help Cardano grow further on DeFi
Additionally, Liqwid Finance has announced on its Twitter profile that the launch of its mainnet will also take place later this week, further bolstering the development and adoption of the Cardano blockchain.Liqwid is a decentralized liquidity protocol that allows users to participate as lenders, liquidity providers or borrowers in the interest rate curve market. The protocol utilizes a noncustodial approach and enables the opening of perpetual loans in an over-collateralized form.
Liqwid is built on Cardano's Plutus smart contract platform, which provides strong guarantees of determinism and transaction security. The protocol's source code underwent thorough security audits before its v1 release on the mainnet. The token associated with the protocol is the LQ, which serves as a coordination mechanism for Liqwid's community governance. LQ holders can participate in the decision-making process of the protocol by proposing updates, voting and implementing changes through Liqwid Improvement Proposals .
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