Snowflake Partnership with Hedge
Hedge, an interest-free, low minimal collateral ratio lending protocol on Solana, announced its partnership with Snowflake.
Hedge is thrilled to announce its partnership with Snowflake, a multisig and automation platform on Solana.
Through this partnership, Hedge users will be able to take out USH denominated loans while enjoying the full security of a multi-sig.
Partnership Highlights
Hedge is currently using Snowflake Safe to manage their Solana Program Upgrade through a secure Multisig. Prior to this, entire Solana programs are managed by a single wallet, which also represents a single point of failure.
Each smart contract has an upgrade authority which allows the person holding the private key to perform such an upgrade and mutate the state of the on-chain program. Snowflake Safe allows teams to decentralize the program authority and remove a single point of failure by leveraging a secure multisig.
What’s next?
Snowflake will aim to include Hedge within their Solana Apps store. Currently, the Snowflake app store contains a variety of applications that allow users, teams and DAO’s to swap, lend, invest, stake and much more.
Through the future integration, users would be able to undertake loans of $USH, a stablecoin soft-pegged to the US dollar. This partnership will allow users to borrow on-chain tokens without having to sell their underlying assets.
About SnowFlake
Snowflake, the first on-chain automation platform built on Solana. Snowflake network empowers developers and end-users to schedule & automate hundreds of smart contracts in one unified on-chain platform.
About Hedge
Hedge is an interest-free, low minimal collateral ratio lending protocol on Solana. It gives users the best deal on access to liquidity against their collateral.
SOURCE
https://hedgelabs.medium.com/hedge-snowflake-206570c2872c
