Nimbus Lending-Borrowing dApp — an Entire Universe of Opportunities!
Today, we are thrilled to introduce the Lending-Borrowing dApp that has been released on our Github, folks! You can check the code here now, and as soon as the audit is finished, you will find it on the Nimbus Platform as well!
All details on how you can participate to enjoy the maximum benefits of this functionality shall be released shortly. Until then, here is a brief overview of the dApp:
What is the Lending-Borrowing dApp — and why it’s much more than just a dApp?
In very simple terms, the Lending-Borrowing dApp enables users to lend and borrow digital assets between each other in a fully automated and secure manner without any third-party interference. But it’s more than just a dApp — it’s an entire block of functionality that acts as the genesis for the upcoming Nimbus dApps. It can also serve as a basis for a wide range of other functionalities that have similar logic behind them: where one type of users (lenders) provides liquidity and the other type of users on the other side of the pool (borrowers) leverages the provided assets in different ways, depending on the purpose of a particular tool.
The best thing is, whenever we spot a great new opportunity on the market — we can build a new tool for our users in just a matter of 2–3 weeks on the basis of this Lending-Borrowing block. While for other DeFi projects, it may take months to keep up!
What other functionalities can the Lending-Borrowing dApp enable for the future?
As you can imagine, the Lending-Borrowing dApp of today can — and will! — go far beyond simple lending and borrowing. In particular, it can enable collateral receipts (Collateral Deposit Security or CDS), instruments for future loans such as PLN (Promissory Loan Notes), synthetic products based on different financial products, and much more. For those who are familiar with traditional financial and investment products — you know how much potential we can unlock by bringing these products to DeFi!
On a high level, it can be understood as an unregulated, decentralized, non-custodial DeFi bank that kicks off as soon as liquidity is provided to it by the users.
Who will benefit from it the most?
The Lending-Borrowing dApp aligns perfectly with the current bullish market conditions.
It caters perfectly to traders as well as ordinary users who wish to acquire a diversified spread of digital assets, without losing custody of the assets they already hold
It also provides extra utility to the NBU and GNBU holders, who can leverage their tokens in one or more ways.
However, there are many more sophisticated use-cases for this functionality — we shall uncover everything regarding that in the next post, coming soon!
By now just believe us: this is where the truly exciting part of Nimbus starts!