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Lending Protocol 3A Announces Its Launch on Linea

source-logo  blockchainreporter.net 30 March 2024 21:14, UTC

3A, a decentralized lending protocol, has recently announced its release on the Linea Mainnet. The company disclosed the news of the launch in its blog, announcing the major updates such as cashback pool and whitelisted collaterals. The company noted that the project will also offer the redemption fee to the owner of the vault.

3A Launches Its Lending Protocol on Linea

The platform published a blog post to provide details about the project’s exclusive updates. While informing the DAO members about the respective features, the firm revealed its firm belief in the project’s future. While justifying the selection of Linea for the launch, 3A mentioned that the EVMs have a huge influence.

In this way, choosing Linea would potentially contribute to strengthening the position of the company in the crypto market. ConsenSys, the firm that also created the Metamask wallet, powers the EVM-equivalent platform of Linea. Linea uses lattice-based, quantum-resistant cryptography and develops zero-knowledge proofs. They encompass every transfer that takes place on the network.

Following that, the mainnet stores the respective proofs. Keeping that in view, Linea operates as the most suitable forum to fulfill 3A’s requirements. With this partnership, 3A will reportedly provide easily accessible profit strategies along with loans without any recurring interest. For this purpose, the platform will leverage EURO3 in the form of a payment token.

Vault Owners Will Get Redemption Fees Rather than Cashback Pools

It clarified that the holders can stake A3A tokens in its cashback pool. The stakers get the entirety of the base charges that the 3A platform collects. In addition to this, it allocates the fees proportionally along with cashback distribution. According to the latest updates, the redemption fees will go to the owner of the vault rather than the cashback pool.