New good for the Enjin users as now they can earn huge profits on their Enjin coins by lending them to other users. As per the recent tweet, this has become possible due to the recent collaboration between Enjin and Aave. This feature of sharing the coins with other users and the interest rate on the coins in the process is controlled by the unbending and transparent ethereum along with its smart contracts. The price of the cryptocurrencies appears to be secured by the oracle of Chain Link.
The Aave is a decentralized on-custodial money market protocol which enables the users to participate as depositors and also as borrowers. The users who act as depositors give liquidity to the market to earn a passive income. At the same time, the borrowers can easily borrow a perpetually or one-block liquidity fashion.
Moreover, Enjin is further expanding its roots as a cryptocurrency application that enables the users to transact different types of cryptos from their application. The collaboration Enjin and Aave can prove to be highly beneficial to the users.
Aave launches new listings
Aave team has been thrilled to announce amazing new features and listings through their recent tweet. The recent update and listing on the site are as follows:
- Risk Parameter Update – The changing market conditions can have a huge impact on market risk. Therefore, Aave has updated the risk protocol based on recent market conditions. In this update, the LEND token’s liquidity has been increased, and the market capitalization is multiplied by 10. Moreover, the loan to value ratio is also increased to 50% to allow more borrowing power through the Aave protocols.
- Adaptation with Enjin- Both Aava and Enjin have a long-lasting relationship. In their recent collaboration, both are working on subjects like the interaction between the game, DeFi, and NFT’s. Users can Enjin as the collateral in Aave. There has been a market risk of C+ and listed Enjin with 55% LTV.
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