CEO Interview Series Begins ADALend Caspar Koskins, one of the most promising companies that is revolutionizing the lending industry by using blockchain technology to eliminate traditional intermediaries, providing unprecedented access to credit for those ignored by the traditional banking system, and delivering high returns for investors in constant low interest rates. I hope you’re as excited about this conversation as we are, so let’s get started.
Welcome Kaspars, we know you are busy these days gentleman with the public launch of the lending platform ADALend and tokens this quarter, but thank you for taking the time to talk to us today. Let’s start from a very high level – could you please tell us about ADALend for those of us who are new to decentralized finance and cryptography (or Web3 as it’s fashionable to call it these days!).
It’s a pleasure to be here and I’m very happy to share with your audience a little more about what we’re building at ADALend and how they can get involved, but first let me try to broadly summarize what our mission is.
We are developing a scalable, trustless and decentralized lending protocol that shelters users in a self-governing environment. From day one, we committed to natively using the Cardano blockchain, allowing the lending platform to unify protocols that support business models that provide economic support to billions of users.
ADALend will bring back the balance of power between lenders and borrowers. By allowing the use of digital assets as collateral, the use of the platform will be diversified in the interests of the user.
Thanks for that – can you tell the audience a little more about why you chose the Cardano blockchain when there are already successful DeFi projects built on Ethereum and newer blockchains like Solala for example?
Of course, let me start by explaining that Ethereum can no longer be used by most people on earth due to high transaction costs. Ethereum gas fees have reached hundreds of dollars per transaction over the past year. Today, this would be unacceptable to ordinary people in the Western world, but for the millions of unbanked people in the developing countries of Africa and Asia, this renders ETH worthless as they need to lend and narrow much smaller amounts. Thus, Ethereum has become a second-tier blockchain for the rich, and the newcomers you mentioned, like Solana, have problems with centralization and reliability. Carsano is the only truly decentralized blockchain with the security you need. The speed and low transaction fees required to provide a truly democratic financial solution that every person on planet Earth can use, and our vision aligns perfectly with Cardano Charles Hsokins, who is passionate about improving financial results for people all over the world, regardless of race, nationality, gender, or financial status.
Thank you Kaspars, those are really strong words and we are lucky to have projects like Cardano and platforms like ADALend that can make this vision of democratic integration a reality.
So, in addition to a mission to do good in the world, many of our readers are executives, professionals, and small business owners who manage their own portfolios and are wondering how they can keep their capital and earn good returns in this hyperinflationary environment where interest rates so low. People are seeing their retirement savings or kids college funds shrink in real terms due to the frankly crazy macroeconomic environment we’re in today in the US, Europe and many other parts of the developer world. How can these hard working middle class people benefit from ADALend?
Well, that’s the other side of the coin, isn’t it. One of my personal inspirations for creating ADAlend was that in my home country, Estonia, in northern Europe, I worked in traditional retail lending and with credit union savings. I saw firsthand how people couldn’t get a decent interest rate from the banks and were genuinely worried about their future as prices and the cost of living rose much faster than wages. The banks’ hands are tied as interest rates are set by the Federal Reserve in the US and the European Central Bank in the EU. I started looking into decentralized finance (DeFi) as a way to generate income from my family’s savings, which took me down the rabbit hole and brought us here today.
Our commitment to ADALend lenders is that we will provide a secure, secure lending platform where they can stake their hard-earned savings in Cardano (ADA) or ADAlend Token (ADAL) or in the form of stablecoins such as USDT or USDC. and earn more than in the market. return on it in high single-digit or lower double-digit percentages. The ADALend platform has high liquidity with no long-term locks, so our lenders will earn interest for as long as their savings are “placed” on the platform and can withdraw them at any time.
On the other hand, for borrowers, many small business owners, entrepreneurs, and the self-employed can find it difficult to borrow money from traditional banks to buy a car, make a down payment on a home, invest in their business, or finance a dream vacation. At ADALend, we don’t do credit checks and we don’t care about salary history. Traditional banks and lenders do not recognize digital assets as collateral. We will provide these borrowers with an over-collateralized lending option where they can stake their digital assets such as Bitcoin, Cardano or any other major cryptocurrency and we will provide them with USD or EUR against their assets. This will provide vital liquidity to a large number of hard-working professionals and self-employed people who were previously ignored by banks. Incidentally, this type of oversecured access lending has been used by the world’s richest 1% to finance their lifestyle and investments, and to optimize taxes for decades. Now ADALend offers everyone these financial solutions that were once the privilege of the rich.
This is indeed a noble cause and I love seeing you helping the middle class like us and also the poorest people in the world.
Let’s talk about partnerships, investors and technologies. I understand that DeFi and CeFi (centralized finance) is a highly competitive space, especially ahead of your initial Dex (IDO) proposal in March 2022, but what can you share in this area if all of our readers don’t sign an NDA?
Absolutely – you hit the nail on the head, the space is getting more and more competitive every day with other new projects creating DeFi on other blockchains and CeFi actors like BlockFi so we need to be selective in regarding what we may disclose. However, today I can share with you some thoughts,
From a technological point of view, using the Cardano blockchain, ADALend will be able to enter the vast digital money management market. By creating a technology that allows anyone to delegate their digital money and lend it, ADALend unlocks the potential for blockchain-based liquidity. We strive to be native to Cardano in everything we do and build a platform using Haskell and Plutus and work within the existing smart contract limits on this blockchain.
In terms of partnerships, Input-Output Hong Kong (IOHK) has included ADALend in its “Main Cardano List” of projects that are considered part of the ecosystem supporting and providing products and services to Cardano users. We are also registered with CardanoCube.io and I know our business development team is hard at work on some exciting partnerships that we will announce in February.
In terms of funding, we were delighted to have esteemed venture capital from Moonwhale Ventures as our lead investor and our private sale is nearly closed. We are now in a very good financial position and are being more selective in who we get funding from as we don’t want to favor venture capitalists over retail investors as many projects do. We also reserve a good distribution of ADAL tokens for our community.
This is great news, Kasparas: I hear all too often that new crypto projects release massive amounts of funds to venture capitalists who then dump them into retail. You appear to be much more inclusive at ADALend and provide excellent opportunities for small and medium sized accredited investors to access the private selling that was once the preserve of the venture capital elite. As an experienced small investor, I salute you!
I must say that after our discussions today, I really want to participate, and I’m sure our audience will too. Where can they learn more about the private sale, IDO public launch and how to get involved?
Thank you for the kind words and thank you for chatting today – it was a genuine pleasure for me and sometimes I still have to pinch myself when I realize how far we’ve come in the last year! Of course, we are now in the final stages of a private sale, so if you would like to apply on behalf of your readers to allocate ADAL tokens, you can send an email [emailprotected] with the subject line “CEO Interview” and I will make sure our private sales team responds to them as soon as possible.
Thank you for your time Kaspars and I will get back to building.
It is my pleasure and I take this opportunity to wish you and your readers a prosperous and profitable year!
#building #secure #lending #platform #based #Cardano