According to ABEL official news, ABEL has launched the first experience version of ABEL BANK, the first decentralized financial application based on Abel Network, on September 3.
ABEL BANK is a decentralized digital bank based on Abel Network. It supports current deposit and borrowing of digital assets, deposit and withdrawal as you go, and borrow and repay as you go. The interest rate of deposit and borrowing is automatically adjusted through smart contracts. By donating to the liquidity pool of ABEL BANK, users can get token rewards in proportion.
Market analysts pointed out that ABEL has exceeded one million users on May 28 this year, and the current number of users is about 2 million. Now ABEL brings millions of users into DeFi. What kind of effect it brings to the current prosperous DeFi market deserves continued attention.
Next, I will analyze what ABEL BANK is and what changes it will bring to ABEL based on the official announcement. It can be seen from the announcement that the basic operation logic of ABEL is the current mainstream DeFi operation logic, which supports the current deposit and borrowing of digital assets, withdrawing at any time, borrowing at any time, and deposit and borrowing interest rates are automatically adjusted through smart contracts. By donating to the liquidity pool of ABEL BANK, users can get token rewards in proportion.
The following paragraph also shows that ABEL is optimistic about the prospects of DeFi and is determined to help DiFi. It hopes to rely on the power of ABEL's millions of miners to jointly promote global financial reforms and strive to create fair, transparent and future-oriented decentralized financial products.
ABEL has officially received invitations for listing on several top exchanges including Huobi, Binance, OKEX, etc.! The project founder is negotiating with major exchanges to list the currency, and the first currency exchange will be announced by the end of September at the latest! The price of ABEL currency went from 0.126 yuan to 0.329 yuan, steadily doubling in just one and a half months. It will be listed on the stock exchange in October, and the main network will be listed at the end of the year.
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In 2020, there was an in-depth discussion about the DEFI project. As of June 28, the total market value of DEFI tokens had exceeded 6.6 billion U.S. dollars. DEFI is abbreviated as distributed finance in English. Many articles have interpreted how defi brings financial wealth.