We’re working hard at making Yeld one of the best DeFi protocols out there with innovative features in lending and staking. The main focus being the creation and delivery of the new CDL Loans dApp.
Currently here’s how the dApp looks like with the contract interactions and responsive design:
Some of the most interesting features of it are:
- Fixed interest rate loans: Users will be able to get fixed lending rate loans allowing loan borrowers to always pay a fixed amount of interest with no unexpected increases or volatility i.e: If you borrow 10 ETH having to repay 11 ETH at a later date, you won’t have to repay more than 11 ETH. The fee is static.
- Low and variable interest rates based on time: Borrowers can get loans with as low as 0.07% interest rate (current interest rate in April 2021) depending on how long they choose to repay their loans back, allowing users to decide how much they pay with no unexpected borrowing rates. This solves a well-known issue with similar lending dApps where the lending and borrowing rates are constantly fluctuating creating uncertainty while also giving them more options to choose their interest rate.
- Crypto Score system: Each user will have a Crypto Score, a number indicating how many funds they can borrow with no collateral. For instance, a CS of 200 will allow users to borrow 0.1 ETH with no collateral, allowing them to get more money with no risk or investment. An innovative feature that gives users increased borrowing limits over time in a completely decentralized manner without relying on peer approvals or centralisations.
An audit will start soon and the auditing company will be announced once we finish negotiations. After it’s completed and the fixes are implemented, we’ll start slowly releasing the dApp with a small subset of users to guarantee the security of it before we open it to the public.
On the other hand, we’re working on the main website redesign to reflect our new brand the most elegant way possible. We’re always open to partnerships and promotions with influencers, something we’ll be looking for before releasing to guarantee the highest impact.
The CDL dApp is the most advanced lending system in crypto and DeFi to get loans with innovative never-before-seen features without compromising on decentralization. Join us on telegram to stay in the know before anyone else: https://t.me/yeldfinanceofficial and stay tuned for future updates!