ADALend, a pioneering lending/borrowing ecosystem on the Cardano (ADA) blockchain, shares an update on its hiring drive and token sales
ADALend, the first mainstream protocol for lending/borrowing operations on Cardano (ADA) proof-of-stake blockchain, announces its new chief technology officer.
Unlimited opportunities with the new Chief Technology Officer
According to the official announcement shared by members of the ADALend team, its administration has finally decided to onboard a new Chief Technology Officer. Blockchain veteran Ali Krynitsky now coordinates the development efforts of ADALend engineers.
Mr. Krynitsky is well known for his unmatched expertise in software development for enterprise and consumer instruments; working with ADALend will be his first experience in Plutus-based Cardano (ADA).
Commenting on the results of a massive hiring campaign, the ADALend team pointed out that development on Haskell and Plutus is still quite difficult now. As previously reported by U.Today, Cardano (ADA) has enabled smart contract functionality with the activation of its update mainnet, Alonzo.
Haskell is a purpose-made programming language for Cardano, while Plutus Core is a low-code compiler designed to accelerate DeFi development and smart contracts deployment on Cardano’s PoS.
With newly hired officers, ADALend will address the lack of transparency and security in decentralized finance (DeFi) protocols to advance commerce and yield farming in Web3.
ADALend IDO to go live in March 2022: Here’s how to participate
Also, ADALend, for the first time, shared the details of its initial decentralized exchange offering (IDO). The first public token sale of ADALend will take place in March 2022. ADAL tokens will simultaneously be released on multiple Cardano-centric token sale launchpads.
Currently, ADAL tokens are available for retail investors in the Round A private sale at $0.55. The tour will be operational until January 31, midnight (GMT).
Starting from the Feb. 1, the price of ADAL will be increased to $0.7. Since the release of ADAL to IDO launchpads, its price will be set at $1.
As covered by U.Today previously, ADALend CEO Kaspars Koskins explained why he chose Cardano (ADA) as the technical basis for his DeFi.
According to him, Ethereum (ETH) is unacceptable due to its exorbitant fees and slow transactions, while Solana (SOL) remains too centralized in its current architecture.
