Binance Is Supporting New DeFi Project That Allows Lending and Borrowing BTC, XRP, BNB
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Binance, the world’s largest cryptocurrency exchange by trading volume, is supporting a new decentralized finance (DeFi) project that allows crypto traders to earn revenue by lending and borrowing certain digital assets, including Bitcoin (BTC), Ripple’s XRP, Binance Coin (BNB), among others.

According to the cryptocurrency exchange, Hard Protocol (HARD) will be supported via Binance Launchpad, its Initial Exchange Offering (IEO) platform.

About Hard Protocol (HARD)

Hard Protocol (HARD) is a cross-chain money market that uses the Kava blockchain for security, price feeds, and cross-chain features.

Read Also: Bitso Sees Exponential Increase in Remittance Processes via Working with Ripple and XRP

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The project’s lending platform is to initially support Bitcoin (BTC), Ripple’s XRP, Binance Coin (BNB), BUSD, KAVA, and USDX.

The digital token HARD is the native governance token of the new platform and it will serve as a means to distribute rewards to miners and to the people who deposit and borrow the supported crypto assets mentioned above.

A report from Messari indicates that the users of Binance Launchpad have gained notably on projects that offer a large percentage of their tokens in public sales.

It is also of note that in recent months, projects that offer 9% or more have earned the most returns. Additionally, Binance’s Initial Exchange Offering (IEO) platform is distributing 7.5% of the total token supply for Hard Protocol (HARD).

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Solomon Odunayo

By Solomon Odunayo

Solomon Odunayo is an accomplished blockchain and cryptocurrency expert at Herald Sheets, known for his in-depth analysis and engaging articles that cater to both beginners and experienced readers. With a degree in Computer Science from the University of Lagos, Solomon leverages his technical background and keen understanding of the crypto space to provide readers with valuable insights and up-to-date news. His passion for innovation and commitment to staying current with industry developments make him a trusted voice in the digital currency community.