ETHLend, a decentralized lending marketplace, and Kyber Network, an Ethereum based protocol that allows the instant exchange and conversion of digital assets are working together to integrate the Kyber Network within the ETHLend smart contract protocol to effectively create a Lend pair for every ERC20 token in the ETHLend DApp.
The partnership is connected to the Lend Token which was recently announced by ETHLend. Lend Token is a medium of exchange and the partnership will allow users to exchange their Lend Tokens at Kyber Network thus making zero lending fee version of ETHLend possible.
As Dr. Loi Luu, the CEO of Kyber Network, said “Our partnership [with ETHLend] embodies our vision to become a solution to empower businesses. With Kyber on the platform, the lender can finance a loan in one token type, while the borrower receive the loan in another. This interaction could bring about greater innovation that will spur the development of the entire blockchain sector.”
Stani Kulechov, founder of ETHLend :
“Kyber provides the decentralized technology to convert LEND to Ethereum or ERC-20 tokens. With Kyber, ETHLend becomes an even stronger participant in the cryptolending market. This strategic partnership is an opportunity for both of us to show how decentralized project interoperability is creating the future of financial applications.”
Ethlend tweeted:
https://twitter.com/ethlend1/status/979615846497705984
Kyber Network Tweeted:
Kyber Network is entering the world of decentralized lending!@ethlend1
Details below:https://t.co/F9MnjIIh3u
— Kyber Network (Not Giving Away ETH) (@KyberNetwork) March 30, 2018
Kyber Network – is a decentralized exchange platform for Cryptocurrency. It is a trustless exchange system that grants instant conversation of digital currencies. Kyber protocol enhances the liquidating of crypto-assets in blockchain ecosystem.
ETHLend – is a decentralized lending platform built on Ethereum Blockchain that allows everyone to lend in a free market with a fair interest rate. Without loss of capital, users can borrow Ether using LEND.
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