Polygon teams up with Mastercard, Visa to launch recurring payments on Ethereum along with 100+ Crypto startup ideas
Protocol of the week: JustLend DAO 🎞️
Welcome to the 40th edition of DeFi Fridays!
Access all the previous editions here.
101 today:
Protocol of the week: JustLend DAO 🎞️
Major happenings in the ecosystem. 🔰
In this week’s good reads:
Fresh startup ideas in the DeFi ecosystem.
What one can expect from DeFi in 2023.
Crypto Thesis 2023.
Protocol Of The Week: JustLend DAO
What is JustLend DAO?
JustLend is the largest TRON-based decentralized lending platform.
It provides liquidity to its users by algorithmically defining interest rates based on the supply and demand of tokens available in the market.
What are they doing?
They are providing liquidity to the market with the help of money market fund pools.
JustLend collectivizes all the tokens deposited by its suppliers into one pool, and provides liquidity to the market. They use smart contracts that eliminate the need for peer-to-peer order-matching.
JustLend also has no time bounds for borrowing or lending, and interest is accrued on your tokens with the generation of every new block on the TRON network.
How are they doing it?
When a token is deposited in this protocol, it is collected in a liquidity pool governed by a smart contract.
The user is then given a corresponding jToken for the token they are borrowing or supplying.
E.g. If Veronica deposits the stablecoin USDT, she will get jUSDT in exchange for her token.
Suppliers earn interest on their supplied tokens, and borrowers pay interest on their borrowed tokens.
Both borrowers and suppliers can redeem their tokens anytime they wish.
Check out this simple tutorial to get started with JustLend DAO:
Check out JustLend DAO here.
Check out stats here.
We explain one DeFi Protocol every Friday:
Major News in the Ecosystem:
🔰Polygon wallet users now have access to unique, custom NFT Debit Mastercards.
Polygon users can now pay with their crypto and fiat alike to 90 million sellers across the world.
⚠SBF signs extradition papers.
🔰Visa proposes recurring payments on the Ethereum blockchain.
Visa is harnessing the power of the blockchain to develop an application that can help users set up recurring payments (like utility bills) from their DeFi wallets.
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Introducing - Smoothie
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Each week, founders share the web3 products they're building, and Smoothie’s users choose a winning product by upvoting up to 3 of their favourite products per week.
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More Good Reads:
✍️2023 Crypto Market Outlook by Coinbase.
✍️Crypto Thesis for 2023 by Messari.
That’s it for today, folks. See ya next Friday. 🧢
Disclaimer: Nothing included in DeFi Fridays should be taken as financial advice.