Source: Comdas – Shutterstock
- Liqwid Finance announced the launch of its DJED market along with the addition of qDJED as collateral for the ADA market.
- Liqwid Labs has requested that SPOs should update their liquidation bots. Each liquidation bot will liquidate a single market only.
The Cardano ecosystem is witnessing fresh and new developments by some of the existing players on its platform. In the latest development, Cardano-based Liqwid Finance announced the successful launch of Liqwid’s DJED market.
Besides, the parent organization Liqwid Labs has also announced the “addition of qDJED as a collateral for the ADA market”! Additionally, it added that the front end is already live and that they would be monitoring the infrastructure for a smooth rollout.
https://t.co/oWeYQUEAka
We are thrilled to announce the successful launch of Liqwid’s DJED market, as well as the addition of qDJED as a collateral for the ADA market!
The front-end is live and we will be monitoring our infrastructure to ensure a smooth roll-out.#Cardano $ADA pic.twitter.com/WOEeUeIEdA
— Liqwid Labs💧💧 (@liqwidfinance) March 2, 2023
Liqwid Labs has also taken into consideration some of the risk parameters for the DJED market which include maxLTV (75%), Liquidation bonus (10%), and Liquidation threshold (80%).
Liqwid Finance was associated with the launch of the DJED stablecoin on Cardano earlier this year. As per the details, this platform offers decentralized interest rate curves for decentralized lending and borrowing on the Cardano blockchain network. Thus, users on Liquid Finance can either participate as lenders or borrowers.
Lenders are responsible for supplying liquidity to the market and earning interest on their deposits. On the other hand, borrowers can open perpetual loans in an overcollateralized manner. Based on the market’s interest rate parameters and the current market utilization, these loans will attract a variable rate of interest.
Update the Liquidation Bots
Liqwid Labs has announced that SPOs should update their liquidation bots to the latest version available. “We are wrapping up testing on our docker container registry, so future updates to these bots should be just a `docker pull` away!” it added. Explaining how the liquidation bots work, Liqwid Finance noted:
The bot will continuously loop at a customizable loop interval. If the bot finds one or more liquidatable positions, it will execute liquidation transactions beginning at the position with the highest reward and proceeding down the list of all liquidatable positions. If a single liquidation fails (such as due to UTxO contention), the bot will automatically proceed directly to the next highest position.
Note that each liquidation bot will liquidate a single market only. If the users wish to liquidate loans in multiple markets, he/she should run two separate batching bots.
Paribus on Cardano
Paribus, a cross-chain borrowing and lending protocol for NFTs, liquidity positions, and synthetic assets, is now building for the Cardano blockchain network. With the growth in DeFi, innovators are looking at new ways to store and represent value on-chain. “Paribus’ mission is to unlock the true potential of these assets, evolving them into interoperable financial instruments, capable of being used within DeFi protocols, on any chain,” it added.
#Paribus offer a wide range of features that will ultimately add strength to its value proposition as one of the earliest DeFi protocols on Cardano blockchain.
Isn’t that cool 👌
Visit : https://t.co/1nRlxHLhDf#cardano #PBX pic.twitter.com/nG7yJMcmnGNo spam, no lies, only insights. You can unsubscribe at any time.
— Anastecia Francis (@AnasteciaFranc2) March 1, 2023
Crypto News Flash does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to cryptocurrencies. Crypto News Flash is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned.
Credit: Source link
