Next Chapter 2 — The adventure inside IOTA
Next Chapter 2 — The adventure inside IOTA
DeFi is so close — very soon
As promised, I’m talking here about the topics raised in the last (1) article of mine, and this is officially the follow-up. I took a lot of time to do this, this is of course due to the fact that I support many other projects besides LendeXe.
Why LendeXe Finance?
Before I go into detail what Lendexe is and what lending will mean within the context of the project, I would like to tell the backstory behind everything. The story starts with my arrival in the IOTA community, and how I discovered step by step what applications were being built, how far DeFi had come and what projects were still planned. At that time, there were already at least two DEXes as well as a few NFT projects, but according to the community and the IOTA Foundation, there was no one who wanted to or could build a Lending(?). So, with the agreement of the entire community, I decided to build a solid Lending(?), which is probably one of the most complex protocols, especially if you want to conquer the lending market. I think it is important to keep respect for peoples passion when they build something big and with their limited time. I would like to thank the whole IOTA community for supporting and entrusting me with this huge responsibility to build this important dApp for the whole community!
Before I proceed, let me briefly explain what dApp means in the DLT space:
dApps are usually understood as when smart contracts, a cryptocurrency (native or not), a blockchain and an app are used together; the result is a dApp–a decentralized application..
Once the decision was made to build a lending protocol, we, the early birds, had to pick a unique name, but everyone knows that a good brand isn’t easy to come up with. Still, I think we did very well. Lend[eXe] means, the classic process of Lend = Borrow and eXe = Execute whenever you want, meaning that no one can freeze or stop you if you choose to withdraw and leave the protocol.
By lending, we mean that person A can lend his existing tokens and receive a return for it, and as option 2, person A can also simultaneously deposit a “collateral” and thereby qualify to borrow another coin or token of his choice while we the LendeXe Team provide the highest security possible.
For me personally, as an academic and passionate entrepreneur and DLT developer the most important mission is to provide innovation to the whole people no matter whether with IT affinity or without. In my personal opinion, the lending business, which is one of the oldest businesses of humanity, is the most important one, when it comes to that innovation is urgently needed.
Here is an Illustration of how the Lending will work:
