'Ola Finance is Bringing Customized Lending Network to Flare Blockchain' blockchain cryptocurrency
The lending networks will include all F-Asset tokens like XRP, DOGE, ALGO & LTC, adding non-turing tokens to the DeFi ecosystem.
Ola Finance is a technology platform that provides its partners with lending-as-a-service. While the protocol is used to establish the loan network, its partners become the owners of the network once it is implemented. Ola has created loan networks for partners like SpiritSwap on Fantom, ApeSwap on Binance Smart Chain, and Fuse Network, with $48 million in value locked.
A borrower may take out a loan via the DeFi platform, allowing the lender to collect interest after repaid. The loan procedure is completed without the use of intermediaries from beginning to end. Almost all loans made using native tokens are backed by collateral. Users who want to borrow money will be required to offer a guarantee. Unlike the traditional banking system, the guarantee in the DeFi space is in the form of cryptocurrencies that are worth more than the loan itself.
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