Nolus, a cross-chain lease protocol, is preparing to revolutionize decentralized finance (DeFi) with a major update expected in Q3 of this year. Known for offering safer alternatives to high-risk crypto lending platforms, Nolus is introducing volatile base currencies, allowing users to interact more dynamically with assets like Bitcoin (BTC) and Ethereum (ETH).
Borrowing and Lending with Bitcoin and Ethereum
With this update, users will soon be able to borrow and lend using Bitcoin and Ethereum as base currencies, enhancing the protocol’s appeal to DeFi traders, yield farmers, and investors focused on security. This change will enable customers to take long or short positions on these volatile assets, potentially increasing profits for liquidity providers who can capitalize on fluctuations in asset values.
One of the key features of the update is its flexibility. Borrowers will not face any restrictions or lock periods, offering maximum freedom in lending and borrowing activities. This could open up new revenue streams and hedging options, while also lowering operational costs across the platform.
CEO’s Confidence in New Features
Kamen Trendafilov, co-founder and CEO of Nolus Protocol, expressed excitement about the new update, stating, “Our team is committed to continuously enhancing the protocol to meet the evolving needs of the DeFi landscape. I’m confident that the community will embrace the exciting new features we are rolling out.”
Nolus plans to phase in the volatile market features gradually throughout the year, ensuring that user feedback and market conditions guide ongoing improvements.
$3.5 Million Secured from Strategic Investors
In addition to the platform upgrades, Nolus has successfully raised $3.5 million through seed and strategic funding rounds. Token Metrics Ventures, BlockBuilders, Autonomy Capital, and Black Alpha Capital are among the investors backing the project, joining previously announced partners Interop Ventures and Black Alpha Capital.
Nolus Strengthens Its Position in the DeFi Market
With over $60 million in transaction volume and a growing community of more than 50,000 members, Nolus is solidifying its place as a key player in the DeFi sector. The introduction of volatile base currencies is expected to draw even more attention from security-conscious investors and traders seeking flexible options in the unpredictable cryptocurrency market.
The upcoming update could mark a pivotal moment for Nolus, reinforcing its commitment to innovation and growth in decentralized finance.
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