September 11, 2024 –– Cross-chain lease protocol Nolus has announced a major platform update slated for Q3 in a bid to transform how DeFi users interact with its ecosystem. The upgrade will see Nolus, which offers a safer alternative to high-risk crypto lending platforms, introduce volatile base currencies.
By unlocking fresh income streams, advanced hedging capabilities, and reducing operational overhead, the protocol aims to foster an active and liquid ecosystem.
Kamen Trendafilov, Co-Founder and CEO of Nolus Protocol: “One of the strengths of our team is our commitment to continually improving the protocol to meet the ever-changing needs of the DeFi landscape. I’m confident that the community will appreciate the exciting new features we are introducing.”
A key feature of the upcoming release is the ability for borrowers to use volatile assets like BTC, ETH, and more as base lending currencies, unlocking the ability to open sell or short positions on the asset while liquidity providers of the volatile currency earn lucrative rewards while waiting for the price to the asset to appreciate. The beauty of it is that there are no lock periods and constraints on both the borrowing and lending side.
Whether hedging against market fluctuations or capitalizing on downward trends, borrowers will be able to leverage volatile assets to strategically navigate shifting conditions. Lenders also benefit by opting in to earn attractive yields on these volatile asset pools.
To ensure an optimal rollout, the volatile markets will be gradually phased in throughout the year with Nolus incorporating user feedback to fine-tune the features iteratively.
The newly-unveiled strategies and development around Nolus attracted new investors into the protocol with a total of $3.5m raised in their seed and strategic rounds. The last two months, the protocol announced Interop Ventures and Black Alpha Capital as part of their strategic round, adding to the large list of seed investors that include Autonomy Capital, Token Metrics Ventures, Cogitent Ventures, Dorahacks, BlockBuilders among others.
With over 50,000 community members and $60m of transactional volume, the protocol’s update is poised to attract additional interest from DeFi traders, yield farmers, and security-conscious crypto investors who appreciate Nolus’ advanced security features and safer approach to lending in the crypto space.
About Nolus
Nolus is a cross-chain DeFi lease protocol designed to help users unlock the full potential of their crypto, without assuming undue risk. With Nolus, users can enter and exit leverage positions with minimal spread and low impact to secure the best prices with no extra costs. A partial liquidation engine also shields against volatility and full collateral loss while maintaining a healthy loan-to-value ratio. Interoperability is at the core of Nolus’ offering as the protocol utilizes IBC and Interchain Accounts to tap into a diverse set of liquidity hubs without creating fragmentation across chains.
