Cardano-based DeFi ADALend Announces IDO, Hires New Director
ADALend, a Pioneering Loan/Loan Ecosystem on Cardano (ADA) Blockchain, Shares an Update on its Recruitment Campaign and Token Sales
ADALend, the first mainstream protocol for loan/loan transactions on Cardano (ADA) proof-of-stake blockchain, announces its new chief technology officer.
Unlimited Opportunities with New Chief Technology Officer
According to the official announcement shared by ADALend team members, the administration finally decided to hire a new chief technology officer. Blockchain veteran Ali Krynitsky is now coordinating the development efforts of ADALend engineers.
— ADALend (@ADALend_finance) January 20, 2022
Mr. Krynitsky is known for his unparalleled expertise in software development for enterprise and consumer instruments; working with ADALend will be his first experience in Plutus-based Cardano (ADA).
Commenting on the results of a massive recruitment campaign, the ADALend team emphasized that the development of Haskell and Plutus now remains quite a challenge. As previously described by U.Today, Cardano (ADA) has enabled smart contract functionality with the mainnet activation of its update, Alonzo.
Haskell is a custom programming language for Cardano, while Plutus Core is a low-code compiler designed to accelerate DeFi development and smart contract implementation on Cardano’s PoS.
With newly hired officials, ADALend will address the lack of transparency and security in decentralized financial (DeFi) protocols to promote trade and yield farming in Web3.
ADALend IDO goes live in March 2022: this is how you participate
Also, ADALend shared the details of its initial decentralized exchange (IDO) offering for the first time. ADALend’s first public token sale will take place in March 2022. ADAL tokens will be released simultaneously on multiple Cardano-centric token launch platforms.
Currently, ADAL tokens are available to retail investors in Private Sale Round A for $0.55. The round will run until January 31, midnight (GMT).
As of February 1, ADAL’s price will increase to $0.7. Since the release of ADAL for IDO launch pads, the price has been fixed at $1.
As previously described by U.Today, ADALend CEO Kaspars Koskins explained why he chose Cardano (ADA) as the technical base for his DeFi.
According to him, Ethereum (ETH) is unacceptable because of its exorbitant costs and slow transactions, while Solana (SOL) remains too centralized in its current architecture.