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DeFi Protocol Aave Unveils “Credit Delegation” Transactions, Here’s What It Does

Aave — an open-source and non-custodial lending protocol, is introducing Credit Delegation (CD). It is a new way where depositors can earn additional interest by creating credit lines between lenders and trusted borrowers through a special vault. Binding terms are drafted and enforced via OpenLaw —a blockchain protocol for the creation and execution of legalRead MoreRead More. The post by Dalmas Ngetich appeared first on BTCManager, Bitcoin, Blockchain & Cryptocurrency News

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DEX DeversiFi Receives Loan Using Aave’s Credit Delegation Scheme

The DEX DeversiFi exchange has just obtained a credit line by the third-party collateral using the Aave novel credit delegation scheme as we are reading more in the upcoming blockchain news today. The DEX DeversiFi received a credit line worth more than $200,000 using Aave’s credit delegation which allows the users to take loans against the collateral by other users. OpenLaw facilitated the lending agreement with ETH-compatible digital contracts. The DeFi lending protocol Aave announced today the first issuance of a credit delegation loan for DeversiFi. The new credit line uses collateral provided by other users seeking to earn additional…

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