Ola x SpiritSwap to launch lending network on Fantom
Hey SpiritSquad!
Over the last two months Ola has been working closely with the core SpiritSwap team towards building out a slick lending network.
During this process, we were honored to have the opportunity to work with our beta testers from the Spirit community, who have been giving us valuable feedback to iterate toward a final version. We are almost there! We would like to take a moment to thank them for their efforts, so thank you Elder spirits.
What is a lending network?
A lending network is a platform that allows users to deposit tokens and utilize them as collateral for borrowing other tokens.
Quite simply, when you lend tokens you get interest on them, while if you borrow, you pay interest on what you borrowed.
For more information, please review the Ola Gitbook.
SpiritSwap lending network
We see this lending network as an inherent part of SpiritSwap. By using our lending network, the Spirit community will be able to access new ways to make use of capital.
Upon launch, the lending network will include the tokens in the chart below, with the these respective parameters. See this article for an in detail explanation of these parameters.
Conclusion
The SpiritSwap team recognizes the importance of delivering new features to our community. The aim here is to provide our users with the tools they need to have every opportunity to be successful in the DeFi space. We see delivery of the SpiritSwap lending network as push to improving capital efficiency by delivering new opportunities for our users to unlock dormant capital.
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