Kinetic's XRP-Linked Lending Market Reached $24 Million With 0.04% Base Rate
(17 hours ago) · 1 source · Summarized by CryptoBipto
Kinetic, a decentralized lending platform, reportedly built a $24 million lending market linked to XRP that featured a base interest rate of 0.04% before any additional reward incentives. The low base rate suggests that the market's attractiveness to lenders may have been driven largely by supplemental reward programs rather than organic borrowing demand.
WHY IT MATTERS
In decentralized finance, lending platforms work a bit like savings accounts: you deposit your crypto, and borrowers pay interest to use it.
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SOURCES
- cryptoslate.com
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