Nolus, a cross-chain lease protocol focused on providing safer alternatives to high-risk crypto lending platforms, has unveiled a major update aimed at revolutionizing how decentralized finance (DeFi) users interact with its ecosystem.
The update, scheduled for Q3, will introduce volatile base currencies, allowing users to borrow and lend assets like Bitcoin (BTC) and Ethereum (ETH) as base lending currencies.
This significant enhancement aims to unlock new income streams, provide advanced hedging capabilities, and reduce operational overheads.
By doing so, Nolus hopes to create a more active and liquid ecosystem for DeFi traders, yield farmers, and security-conscious crypto investors.
Borrowing and lending in volatile assets
The key feature of the upcoming update will allow borrowers to use volatile assets such as BTC and ETH as base currencies.
This enables users to open sell or short positions on these assets while allowing liquidity providers to earn rewards as they wait for the assets’ values to appreciate.
Notably, the platform will have no lock periods or constraints for both borrowing and lending, offering maximum flexibility.
According to 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.
With this feature, borrowers can hedge against market fluctuations or take advantage of downward trends, while lenders benefit from attractive yields on their chosen asset pools.
Gradual rollout and community feedback
To ensure smooth implementation, Nolus plans to gradually phase in the volatile markets throughout the year.
This phased approach will allow the protocol to incorporate user feedback, ensuring that the new features are optimized for user experience and market conditions.
New investors and growing community
In addition to its platform updates, Nolus has also raised $3.5 million in seed and strategic funding rounds.
Recent investors include Interop Ventures and Black Alpha Capital, adding to a growing list of supporters such as Autonomy Capital, Token Metrics Ventures, Cogitent Ventures, Dorahacks, and BlockBuilders.
With a community of over 50,000 members and $60 million in transactional volume, Nolus is positioning itself as a key player in the DeFi space.
The introduction of volatile base currencies is expected to further attract attention from traders and investors who prioritize security and flexible options for navigating the volatile crypto market.
As Nolus continues to innovate and expand, it aims to stand out as a platform that offers both safety and opportunity in the decentralized finance world.
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