JustLend DAO is a decentralized lending platform that enables the supply and borrowing of BUSD, a stablecoin pegged to the value of the US dollar.
📢Announcement on Enabling Supply and Borrowing of #BUSD
— JUST Foundation (@DeFi_JUST) January 18, 2023
The platform utilizes the power of decentralized finance (DeFi) to provide users with a transparent, trustless, and secure way to access lending and borrowing services.
BUSD, also known as Binance USD, is a stablecoin pegged to the value of the US dollar.
What is JustLend DAO?
JustLend DAO is a decentralized lending platform that allows users to supply and borrow various stablecoins, including BUSD. The platform is built on the Ethereum blockchain and is governed by a decentralized autonomous organization (DAO), which means that it is run by its users through a voting system.
💥#JustlendDAO in the last 30 Days🔥🔥🔥
🔹UAW 3.05k +20.66%
🔹Transactions 16.64k +11.13%
🔹Volume $135.42M +162.85%
— JUST Foundation (@DeFi_JUST) January 17, 2023
JustLend DAO utilizes smart contracts to facilitate lending and borrowing transactions. Users can supply stablecoins to the platform, and in return, they will receive a return in the form of interest. Borrowers can then borrow these stablecoins, with the option to choose between fixed or variable interest rates.
One of the main advantages of JustLend DAO is its ability to provide liquidity to borrowers in a timely manner. Unlike traditional lending institutions, JustLend DAO does not have strict lending criteria, and loan applications are processed quickly. This makes it a useful tool for borrowers who need quick access to funds.
JustLend DAO also provides lenders with an opportunity to earn a return on their idle assets. By supplying stablecoins to the platform, lenders can earn interest on their funds without the need for a middleman. This makes JustLend DAO an attractive option for those looking to earn a passive income.
What is BUSD?
BUSD, also known as Binance USD, is a stablecoin pegged to the value of the US dollar. It is issued and backed by Paxos Trust Company, a New York-based financial institution, and is traded on various cryptocurrency exchanges, including Binance.
The main purpose of BUSD is to provide a stable and reliable store of value for users in the volatile world of cryptocurrencies. Because it is pegged to the value of the US dollar, its value remains relatively stable and does not experience the same level of price volatility as other cryptocurrencies.
BUSD can be used for a variety of purposes, such as trading, paying for goods and services, and as a form of collateral. Because it is a stablecoin, it is particularly useful for traders who want to hedge against market volatility, or for merchants who want to accept cryptocurrency payments without having to worry about price fluctuations.
To get BUSD, users can purchase it on a cryptocurrency exchange, such as Binance, or through a stablecoin ATM. Users can also redeem BUSD for US dollars by going through the redemption process with Paxos, the issuer of BUSD.
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