Instadapp introduces lending protocol Fluid in testing phase, aiming for January release

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By BitcoinWiki News

Key Takeaways:

  • Decentralized finance platform Instadapp introduced a lending protocol named Fluid
  • Fluid aims to address liquidity fragmentation in the DeFi sector
  • Fluid is currently in preliminary testing stages
  • The audits for Fluid will be finalized by the end of November
  • Instadapp’s native token INST will be the governance token for Fluid
  • Fluid’s “Liquidity Layer” design consolidates liquidity and features from various DeFi protocols
  • The protocol incorporates methodologies from Uniswap, MakerDAO, Compound, Aave, and Curve
  • Users can borrow up to 95% of their ETH’s value with a focus on risk mitigation
  • Instadapp has $1.8 billion of value locked in its smart contracts
  • In 2021, Instadapp raised $10 million in a funding round

Decentralized finance platform Instadapp has introduced a new lending protocol called Fluid, which aims to address liquidity fragmentation in the DeFi sector. The protocol integrates functionalities from Aave, Compound, Uniswap, Maker, and Curve to consolidate liquidity and features for lending services. Fluid is currently in its testing stages and is expected to undergo audits in November before an official release in January. Instadapp’s native token INST will serve as the governance token for Fluid. The protocol will allow users to borrow up to 95% of their ETH’s value and will prioritize risk mitigation with real-time loan adjustments. Instadapp currently has $1.8 billion locked in its smart contracts, making it one of the top DeFi platforms.

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