Larix Lending Launchpad Introduces Bonfida Pool
Larix, the first Metaverse-based Finance Protocol on Solana introduces Bonfida as its first lending pool.
Larix’s vision is to anchor itself within the development of the Solana Ecosystem and help to strengthen it. As an important step in this process, they are glad to introduce the lending launchpad, a lending functionality involving more native-Solana tokens.
What is Lending Launchpad?
The core of Lending Launchpad is an isolated pool, offering isolated asset pools for SPL native tokens. Up until now, Larix has only offered cross-collateral pools for supported mainstream assets. The motivation behind this pertains to security as Larix takes security extremely seriously.
As all assets can be borrowed against each other in the cross-collateral pool, supporting new assets will be a long and complex process. Therefore, with a lending launchpad, Larix is able to list more tokens that can’t meet the requirements for the cross-collateral pool. You could say, the lending launchpad is a pathway for all SPL native tokens to participate in the lending market.
Bonfida Pool
The Bonfida pool has 3 assets: $FIDA, $SOL, and $USDC. By Supplying those tokens, you can earn dynamic APY interests. After supplying and earning APY on assets, you can then borrow against those assets, as the supplied assets are used as collateral for borrowing.
Rewards
Borrowers who use the Bonfida isolated pool will be rewarded with $LARIX tokens. These incentives will run for 3 days.
Larix doesn’t charge any borrow fee, which means that you do not need to pay borrowing fees every time you borrow, which is very beneficial to loop yield farming operations.
About Larix
Larix is the first Metaverse-based finance platform on Solana, a lending protocol that aims to support a broad range of asset classes as collateral types to increase capital efficiency.
About Bonfida
Bonfida is a full product suite that bridges the gap between Serum, Solana and the user. It aims to be a single source of data truth in the cryptocurrency industry focusing on exchange statistics, crypto company reviewing and scoring, and researching crypto trends, among other things.
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