Kulfi Finance Introduces a Fixed Rate Lending Protocol on Cardano, Launches Governance Token

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Disclaimer: The text below is a press release that is not part of Cryptonews.com editorial content.

Kulfi Finance a decentralized lending and borrowing protocol, announced its platform launch on the cardano blockchain. Upon launch, Kulfi V1 will facilitate a fixed rate / term lending and borrowing protocol on the Cardano. Notably, the release introduces decentralized finance (DeFi) primitives to the network marking a significant milestone in the development of cardano blockchain technology, This will allow users to lend and borrow crypto assets with certainty.

The primary use case of the Kulfi Finance token (KLS) is as a governing mechanism of the platform. Following the initial launch, the Kulfi Finance team “will provide analysis and parameter recommendations”. However, as the project develops and gains adoption, the team will take a step back. In turn, this will allow KLS token holders to suggest, vote upon, and implement changes within the Kulfi crypto ecosystem. Each single KLS token is representative of one vote. Ergo, the more KLS tokens one holds, the more influence they can have in a vote.

The KLS tokens are available on Pre Seed Sale at a fixed price of 1 ADA = 200 KLS tokens.Interest participant can follow the link to purchase KLS token - https://kulfifinance.io/buy

KLS Token Utilities and Tokenomics

Proposing and evaluating upgrades to the protocol

Access Grant for Kulfi Borrowers

Onboarding new collateral types

Setting liquidity fees

Activating new maturities for lending and borrowing different assets

Transaction fees within the Kulfi Ecosystem can be paid using KLS tokens

KLS holders earns a percentage of fee paid within the Kulfi Ecosystem

Loan repayment can be done with KLS token

The supply of KLS is limited to 1