You asked, and we delivered: here’s our Proton Loan explanation video, walking you through this new decentralized lending market in less than 20 minutes!
In this video, our VP of Engineering, Syed Jafri, explains exactly how Proton Loan works, how things operate on the backend, and how users can use it to loan and borrow cryptocurrency while earning interest. Simple and straightforward, we made this video to empower our users to take full advantage of everything that Proton Loan has to offer.
As a refresher, Proton Loan is a new decentralized lending market built on the Proton blockchain. Utilizing the cross-chain capabilities of Proton-wrapped xtokens, Proton Loan makes it possible to deposit cryptocurrency into lending pools to earn interest, and to take collateralized loans from cryptocurrency pools for BTC, ETH, USDC, USDT, XPR and XMT, with zero gas fees on the Proton blockchain.
By using a system of smart contracts powered by the Proton blockchain, users can request and fulfill loans using cryptocurrency without the need for a central mediator and without regard for the parent blockchain protocol of the requested asset. That means a cryptocurrency lending marketplace that is decentralized, accessible, and powerful.
Want to watch this video on YouTube? Follow the link to our channel here! You can learn more about Proton Loan by visiting our launch day blog post here, and by checking out the Documentation section of the website. Don’t forget to head over to ProtonLoan.com and check it out for yourself – the website is simple enough to figure out in just a few minutes. Be sure to follow Proton Loan on Twitter to interact with us and stay up to date on the latest news and announcements.
Welcome to Proton, we’re glad you’re here.