Cryptocurrency lender LEDN is removing support for ether
And will start offering the bitcoin-keval loan model starting from 1 July as it looks to simplify its product and focus its attention around bitcoin.
Cayman Island-registration company can attempt to broaden its appeal among the corners of the Crypto community that says BTC is the only cryptocurrency that is required. Such BTC advocates are often called “bitcoin maxis”.
“With our new hyper-focus on bitcoin-only lending, we are going back to our roots and principles, inspiring Bitcoin to start Bitcoin,” co-founder Adam Reeds said in an email on Friday.
LEDN will also close client assets to produce yield as it wants to remove the risk from its business model. LEDN said Bitcoin introduced LEDN as a loan, which would be completely in his custody or its partners, Ladon said.
Reeds said, “Client assets to create traditional finance leverage depend on continuous use of assets and eventually, inflation,” the Reeds said. “Bitcoiners spontaneously reject that model.”
Cryptocurrency lending 2022 had a major casualties of crypto winter, with companies involving Blockfi, Vaijor, Celsius and Genesis going to the wall.
The LEDN managed to survive and is now trying to revive the BTC-supported loan sector, offer its simplified product and helped by a friendly regulatory approach for Crypto in the US, co-founder Maurisio Di Bartolomo recently told coindsk in an interview.
