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Cardano-Based DeFi ADALend Introduces Javed Khattak as Its GM: Details

DeFi

u.today 08 October 2021 18:29, UTC
  
Reading time: ~2 m

ADALend is a multi-purpose decentralized finance protocol on Cardano, the largest proof-of-stake  platform. Its business progress is curated by General Manager Javed Khattak.

Javed Khattak develops and implements ADALend’s strategy

According to the official announcement by ADALend team, its business strategy and corporate development is curated by Javed Khattak. Mr. Khattak joined ADALend as General Manager (GM). 

Javed Khattak is a qualified actuary (FIA) and prominent C-class business development officer. In 2018, Khattak was named CFO of Year by Wealth & Finance magazine. Also, amid the 2017 cryptocurrency euphoria, Mr. Khattak was named among the top 20 of the most influential people in the ICO sector.

Khattak has a proven track record of products where he was responsible for advisory (governments, central banks, startups and global household brands); some of his clients were valued over £100 billion. World-leading financial conglomerate HSBC is among his most important clients.

Javed Khattak leverages his unmatched experience for designing Cardano-based decentralized finances (DeFi) initiatives of ADALend products.

Bringing DeFi experience to Cardano (ADA)

Despite Cardano (ADA) activated smart contracts functionality only one month ago, many early-stage projects are interested in building on top of its mechanisms.

As covered by U.Today previously, ADALend protocol secured $540,000 in private tokensale. 1.8 million ADAL assets were sold to ‘early birds’. 

According to ADALend’s team statement, private sale ended with 5x oversubscription. This metric reflects the interest in Cardano-builded DeFi among retail and corporate investors.

ADALend technology progress is guided by top-tier fintech developers Philippe Dee and Sarawut Sanit. Their previous experience was related to flagship cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Cardano (ADA), Polkadot (DOT), Solana (SOL) and Cosmos (ATOM).

Starting from Sept.13, 2021, Cardano (ADA) blockchain supports smart contracts. As such, it is suitable for dApps and DeFis on-boarding.


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