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Meet Abax!
Abax is a decentralized non-custodial lending protocol powered by smart contracts and blockchain technology. It offers individuals and other smart contracts the opportunity to earn a reliable passive income by depositing cryptocurrencies, which are then securely lent to borrowers against their collateral or through the innovative flash loan mechanism.
You can use Abax in two ways:
as a depositor by depositing your assets and earning passive income and as a borrower by borrowing assets against collateral to realize your financial strategies.
Abax is a smart contract platform which means that you do not need to trust anyone that your funds will be managed safely. You just need to trust the code that will be audited before the platform is launched.
Abax operates on the public blockchain, which means it can be accessed by anyone, anytime, anywhere. Moreover, as a depositor, you can deposit and withdraw your assets whenever you want and earn a steady interest rate.
Abax is built to be as efficient as possible to let its depositors earn more while not increasing borrowers' rates.
You just need to send signed messages to the blockchain Abax is operating on. Don't worry, it's very simple! You can use a dedicated UI that will help you manage all your interactions with Abax. Including depositing that will earn you passive income based on the market borrowing demand.
Interacting with the protocol requires sending messages to the blockchain Abax is operating on and paying gas fees. Gas fees depend on the network status and transaction complexity.
Your funds are transferred to the Abax smart contract where they are managed securely. The code of the smart contract will be (is) public, open source, formally verified, and audited by third-party auditors. You can withdraw your funds from the pool on demand.
Nothing in the finance world is entirely risk-free, even storing your money in banks. The risks related to Abax are the smart contract risk (risk of a bug within the protocol code) and liquidation risk (risk on the collateral liquidation process). These are the only possible risks, and many actions to mitigate them will be taken, including code auditing.
ABAX will be a central asset of Abax Governance. It can be staked to vote and decide on the outcomes of Abax Improvement Proposals (AIPs) that include code and parameter updates.
Read more about how to get Abax at Abax Minitng Process soon!.
Abax DAO is an emerging Decentralized Autonomous Organization that manages and benefits the Abax Lending Protocol. It will use the Abax token as a governance token to make decisions. As it is emerging it uses Discord server to bring community members together and discuss the future of the Abax DAO and Abax Lending Protocol.
Last modified 23d ago