Crypto Lending and Borrowing on Orby Protocol

Crypto Lending and Borrowing on Orby Protocol

By Novasky | DevPress | 9 Feb 2024


Crypto.com when started they wanted to be like exchange and the bank. And then slowly they had to adapt to the financial nature of the centralized world. And they decided to give up a lot on the exchange system. So they also created their own chain named Cronos. And the firm behind the Cronos was meant for the development of variety of the projects for their Cronos chain through investment and acceleration programs. In that they developed the Orby protocol for the lending and borrowing. 

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This project was pushed for the Cronos's grant and they managed to get it and also now they have gone live on the cronos chain. You can now use the project for borrowing and lending the USC which is an internal stabelcoin that can be traded on the Cronos chain. Cronos builder program has pushed many such similar projects but many of them are in pipeline and orby has managed to put on the project live on the Blockchain. 

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Orby has decided to support the variety of the wallet integration like metamask, crypto.com, walletconnect and few others on the pipeline. The brave browser support is also good in this context so you would be able to use it for the BAT's swap in some cases. But for now that would be not so easy way there. I guess it'd be fun to try out once all the known wallets start the support to such lending marketplace.

So what's the use case of USC? This is a stablecoin designed by Cronos for their internal use. And it can be used to spend on the chain for the DeFi projects. Like so for the internal use before the funds can be moved in and out of the blockchain network. So in such case Orby is intended for the internal use with such type of the networks lending and borrowing protocol. 

You can check out Orby Network

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Novasky
Novasky

Crypto Blogger and Open Source Developer.


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