The LEDN cryptocurrency lender removes the support of the ether
And will start to offer a loan model only Bitcoin from July 1 when it seeks to simplify its product and to refine its objective on Bitcoin.
The company recorded on the Cayman Islands could try to expand its appeal among the corners of the cryptographic community which say that BTC is the only necessary cryptocurrency. These BTC defenders are often called “Bitcoin Maxis”.
“With our new hyper-point on Bitcoin loans only, we return to our roots and principles that inspired Bitcoin to start,” the co-founder Adam Reeds said on Friday in an announcement sent by e-mail.
LEDN will also stop lending customers to generate a return because he seeks to remove the risks from his business model. The bitcoin offered to LEDN as a guarantee for loans will remain entirely under its custody or that of its partners, said LEDN.
“Traditional finance is based on the constant reuse of customer assets to create a lever effect and, ultimately, inflation,” said Reeds. “Bitcoins instinctively reject this model.”
Loans to cryptocurrencies were a major victim of the winter of cryptography in 2022, with societies such as Blockfi, Voyager, Celsius and Genesis going to the wall.
LEDN managed to survive and is now trying to resuscitate the BTC-supported loans, with its supply of simplified products and helped by the more user-friendly regulatory approach to the crypto in the United States, the co-founder Mauricio Di Bartolomeo told Coindesk during a recent interview.
