Cardano Gets New Feature to Conquer Billion-$-Market

• With Aada’s new Pool Manager NFT, users will be able to delegate the locked ADA to any other pool along with registering the new stake pool.
• The Aada Finance V2 seeks to address the two most important factors for a lending platform, decentralization, and liquidity.

---

Cardano-based decentralized lending protocol Aada Finance announced that it has now introduced version 2 along with introducing a pool manager NFT.

Thus, with Aada’s new Pool Manager NFT, users will be able to delegate the locked ADA to any other pool along with registering the new stake pool.

In the case of delegating the locked ADA to any pool, the NFT holder will manage where the locked ADA is delegated. As a result, the pool manager NFT holder gets to control only the ‘deposit’ and ‘collateral’ of the specific pool.

In case the pool manager NFT holder registers as a stake pool, the holder can publish any stake certificate including a stake pool registration as well as de-registration.

🚀 Exciting news for #Cardano enthusiasts.

With Aada V.2 we are introducing a Pool Manager NFT where it's holder will be able to:
– Delegate locked ADA (supply or collateral) to any pool
– Register new stake pool

How do you measure this NFT value?#CardanoCommunity #ADA pic.twitter.com/U6swocDvGA

— Aada (@AadaFinance) May 3, 2023

Aada is a decentralized lending and borrowing protocol built atop the Cardano blockchain network and backed by NFTs. Also, the Aada decentralized protocol has multiple use cases such as:

• Shorting: Aada Finance allows users to borrow non-fungible tokens (NFTs), sell, or repurchase the assets in order to increase their positions.
• Leverage: Aada facilitates trustless leverage trading by allowing traders to borrow more capital than they have, while thus increasing their purchasing or selling power.
• Farming: Aada provides yield-farming facilities to users, which is one of the widely used risk-management strategies in decentralized finance (DeFi). Aada Finance will allow everyone to maximize their profits by borrowing the desired asset without owning them.
• Hedging: Aada Finance also facilitates hedging to counter price volatility in the crypto space.

The Benefits of Using Aada

The new Pool Manager NFT from Aada will allow borrowers and lenders to lock their deposits and loans into NFT bonds such that anyone can redeem it by providing the underlying NFT and fulfilling the loan conditions. This feature will unveil an entirely new financial instrument for users to transfer, sell, or stake on the decentralized finance (DeFi) platform.

With the Aada V2, the platform will offer a more user-friendly interface and interaction. Aada Finance notes that the two most important factors for a lending platform are decentralization and liquidity. The Aada Finance V2 seeks to address this dilemma by splitting the app into two separate entities:

1. Protocol (smart contracts, liquidity pools, and token holders);
2. UI (the app.aada.finance website, and the batching mechanism).

As per Aada Finance, “the split will enable users to interact with the smart contracts without the need to access the app’s interface. Using this method will be cost-free, and only network fees will apply”.

Crypto News Flash does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to cryptocurrencies. Crypto News Flash is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned.