Decentralized lending technology Kulfi Finance launched on Cardano blockchain. Kulfi V1 will enable fixed-rate/term lending and borrowing on Cardano.
The release provides DeFi primitives to the DeFi network, marking a milestone in the Cardano blockchain. This will allow users to lend and borrow crypto assets with assurance. Kulfi smart contracts will ease the process and ensure the sustainability of borrowers and lenders.
Kulfi Governance tokens
Kulfi Finance token (KLS) is the platform’s governing mechanism. After launch, the Kulfi Finance staff will analyze and recommend the parameters of the token operations. KLS token holders can then recommend, vote on, and implement changes to the Kulfi crypto ecosystem. Each KLS token votes. More KLS tokens equal more voting power.
On pre-sale KLS tokens, the fixed cost is 1 ADA = 200 tokens. Buy KLS tokens at https://kulfifinance.io/buy.
KLS Token Utilities and Tokenomics.
Evaluating protocol upgrades
Kulfi Access Grants
KLS tokens pay transaction fees in the Kulfi Ecosystem.
KLS holders gain a share of ecosystem fees.
KLS token allows loan repayment.
KLS’s one billion-token supply is deflationary.
Kulfi Lending protocol uses $KLS as collateral.
Kulfi Finance users can get fixed-rate loans. However, borrowers must post collateral. Negative wTokens signify borrowed funds and a repayment deadline. Here, borrowers can trade negative wTokens for cryptocurrency.
Users can lend surplus funds to Kulfi Finance. Lenders will buy positive wTokens assets that yield a better valuation than their initial deposit.
As the heart of Kulfi’s crypto ecosystem, wTokens tokenizes future payments. wTokens also show a deposit of funds plus fixed-rate interest and a repayment date.
Pre-seed KLS Token
This is the public’s first and only opportunity to buy Kulfi tokens at 0.005 ADA per token.
Kulfi Finance’s significance
Fixed-rate lending is vital for healthy financial markets because it gives users stability. Kulfi is trying to bring stability to the DEFI space.