Breaking New Grounds: Ajna Protocol Revolutionizes DeFi Lending
WEST PALM BEACH, FL – 15/01/2024 – (SeaPRwire) – In a groundbreaking move, the Ajna Protocol has once again made waves in the decentralized finance (DeFi) space. Initially deployed in June 2023 and subsequently upgraded to enhance security, the Ajna Protocol has now completed a series of security audits, solidifying its position as a trailblazer in the realm of decentralized borrowing and lending. Unlike traditional DeFi lending markets, Ajna introduces a truly decentralized system that empowers users with more options and minimizes systemic risk.
Expanding Horizons: Ajna Protocol Deploys Across EVM Sidechains/L2s
While the Ajna Protocol initially made its mark on the Ethereum Mainnet, it has now expanded its reach to Arbitrum, Base, Optimism, and Polygon. This strategic deployment makes Ajna the exclusive platform on Mainnet and EVM sidechains/L2s where users can borrow and lend against an extensive array of assets stored in their wallets. The protocol’s ambition is to provide users with the freedom to create lending markets for both ERC20 and ERC721 tokens, eliminating the need for external governance or price feeds.
Ajna’s Mission: Redefining DeFi Borrowing and Lending
The mission of the Ajna Protocol is clear: to enhance the existing DeFi borrowing and lending landscape by offering a decentralized system with more choices and less systemic risk. Users utilizing the Ajna Protocol have complete control over their risk decisions, ensuring a truly permissionless and limitless borrowing/lending experience. While front-end service providers are expected to simplify the user experience, Ajna’s designers emphasize the importance of decentralization in creating a scalable DeFi ecosystem.
Immutable Innovation: Ajna’s Core Principles
Ajna stands as an immutable protocol built without governance, ensuring that it cannot be altered or updated after deployment. The protocol also operates without relying on price feeds, known as “oracles,” eliminating a common point of failure and facilitating borrowing/lending for “long-tail” assets lacking available price feeds. Ajna is experimental software, urging users to delve into its design and study its codebase before engaging with its contracts.
Security at the Forefront: Ajna’s Extensive Audit History
Over its two years of development, the Ajna Protocol underwent rigorous security audits to ensure the integrity of its codebase. Ten separate security audits were conducted on various components, involving reputable firms such as Sherlock, Prototech, Trail of Bits, Code4rena, Certora, and independent auditor Kirill Fedoseev. The audits provide users with confidence in the protocol’s robust security measures.
Front-end Access: Summer.fi and Mom
With the recent redeployment, Ajna Protocol users can access the platform through two front-end service providers: Summer.fi and Mom. These providers offer a gateway to the revolutionary decentralized borrowing and lending experience facilitated by Ajna.
SOURCE: Ajna Labs LLC
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