Service is now called Aave.
A special type of lending platform where you don’t have to worry about anything because everything is at your beck and call. Loans on the site which are digital are backed by assets and it works in such a way that you don’t have to sell crypto holdings when you want to spend funds.
Simply, all you have to do is fill in the box and get started. You have a sentence going like “I hold (a particular amount and the collateral), how much (loan currency) can I receive?” You could see how simple this is because it’s all worked out that a certain amount and collateral can get you a particular kind of loan; however, with a specified currency.
The site is simple and straightforward with one of the most incredible themes and design in crypto history because it is subjected to change.
Features of ETHLEND
1. Fees: Zero fees are demanded for all trading operations while using LEND on the platform.
2. Middleman: It acts as a middleman between two parties in the financial system i.e. the borrower and the lender.
3. Digital assets: ETHLEND is one of the many sites that can hold quite a number of digital asset without system failure.
4. Transparency: Ensuring a transparent blockchain system for users since most of the transactions are done on a public Ethereum blockchain ledger.
5. Storage: All deposits are made using smart contracts.