“We are excited to announce that ETHLend, the first decentralized lending marketplace, and Kyber Network, an Ethereum based protocol that allows the instant exchange and conversion of digital assets are working together to integrate the Kyber Network within the ETHLend smart contract protocol to effectively create a Lend pair for every ERC20 token in the ETHLend ÐApp.”
How does this Impact?
With the Kyber Network, ETHLend users will have more ease using the Zero Fee Lending version of ETHLend, thus giving more utility and usage to the Lend Token. Indeed, allowing to have a LEND/ pair for all erc20 will create a frictionless experience with zero fees. This is a good news for LEND and we might see a surge in price in upcoming days.
This collaboration is also a great addition for lenders as it will allow for instant liquidation of an asset in case of defaulted loan or collateral calling without leaving the ETHLend ÐApp, as Kyber decentralized exchange will run in the backend.
Moreover, LEND token holders will able to buy/sell their LEND/KNC tokens on the Kyber Network decentralized exchange to another Ethereum based tokens. And KNC holders already have the opportunity to unlock their KNC liquidity by pledging them on Lend to obtain an ETH loan since December 2017.
Lend is a great coin if you are planning longterm, these good news surely will make it a stronger coin and the price will follow the same.
I feel we can and will see a surge in the price of LEND but as of now, as Bitcoin is not stable enough, no one can say anything.
Do let us know what you think about this partnership in the comment box below.