Fring Finance, the next-gen DeFi lending and borrowing platform, has announced its integration with Lido DAO’s native altcoin. This integration will allow Fringe users to take stablecoin loans and leverage $LDO without parting with their tokens.
Fringe Finance, Unlocking the Potential of Altcoins
Fringe Finance is an innovative and inclusive DeFi lending platform that allows crypto holders to earn interest against their holdings or borrow loans against stablecoin collaterals. Its Primary Lending Platform also enables users to stake $FRIN tokens and earn a portion of the fees generated by the platform.
Unlike other DeFi lending platforms such as Aave and Compound, Fringe allows users to stake low liquidity altcoins and use them as collateral for stablecoin loans. The holders of its native token $FRIN can also actively participate in the platform’s decision-making process. Moreover, Fring Finance is not a gridlocked protocol. It uses Chainlink Oracles to continuously add new assets to the platform, thus creating more exposure for the wider crypto community.
Lido: decentralized staking without asset locking
Lido is a decentralized staking solution for ETH, SOL, Polygon, and Kasuma. Its unique ecosystem allows users to stake their tokens without locking the assets. Lido makes staked ETH 2.0 tokens liquid and usable across the entire DeFi ecosystem.
The platform is governed by $LDO: an ERC20 token granting governance rights in the Lido DAO. Lido users receive secure staking rewards in real-time. When a user stakes their Ethereum token on the platform, they receive stETH (staked ETH) on a 1:1 basis. The stETH balances can be used like regular ETH across DeFi platforms to earn yields and other rewards.
Lido also doesn’t require any minimum deposits while staking. It solves the problems associated with initial ETH 2.0 staking in terms of illiquidity, immovability, and accessibility.
Stablecoin Loans and New Opportunities for ETH-based Assets
This integration will bring $LDO to Fringe’s Primary Lending Platform as a collateral type. Users will be able to leverage their $LDO positions and take out stablecoin loans against the token. It will also create more opportunities for other Ethereum-based assets to arrive on the platform and create broader financial scope for the DeFi community, increasing crypto adoption across the board.
This integration is set to be the first of many, as Fringe Finance plans to list other Lido assets on the platform shortly.
For regular updates, visit the official website or follow Fringe Finance and Lido Finance on Twitter.
About Fringe
Fringe Finance is an inclusive platform for crypto lending and borrowing. It seeks to unlock the multi-billion dormant capital locked in smaller cryptocurrencies — by offering guaranteed stablecoin loans secured by the latter. The platform aims to accept the broadest range of altcoins as collateral on the market. The safety of the user funds is guaranteed by two highly qualified smart contract auditors: CyberUnit and HashEx.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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