Aada Finance For Cardano Blockchain Launch Date Announced

The company behind Cardano, Input Output, has recently announced the launch date for Aada Finance, its first lending and borrowing protocol on the Cardano blockchain. Aada Finance streamlines the borrowing and lending user experience by utilizing a novel DeFi primitive known as NFT bonds.

V1 will therefore be released in mid-September of this year and shall be the first time that DeFi primitives are added to the Cardano blockchain, which is built on the Plutus smart contract platform that was first introduced in the Alonzo hard fork back in September 2021.

Aada recently formed a partnership with Minswap to assist in the liquidation of loans when the loan-to-collateral value falls below a certain threshold. The liquidity of Minswap will be utilized in the liquidation process.

Elsewhere, Input Output Global also recently partnered with Pezesha, an African fintech company that enables financial institutions to offer liquidity to small-to-medium businesses.