ETHLend, the decentralized lending ecosystem on the Ethereum network recently launched its new and improved decentralized application (dApp) version Alpha 0.2 on December 15th, 2017, 2 weeks after completing their LEND token sale.
In this new version, the application was enhanced including updates in basic collateral management, security, and pre-listed tokens.
Now today, the ETHLend team announced that the app generated over 100 ETH in lending volume over this past weekend. This means that on the current rate, the ETHLend app will have provided finance exceeding $75,000 USD worth of Ethereum over the course of a week to ERC-20 token holders.
The ETHLend team said:
“As a side curiosity, one interesting use-case has related to the recent cryptocurrency bear market. Apparently, during current cryptocurrency market condition, fiat exchanges are burdened with traffic and traders who want to leverage from the bear market have found an easier way to unlock liquidity by pledging tokens as a collateral in ETHLend to receive more Ethereum for other cryptocurrency or token trading.mThe ETHLend team is humbled by the trust of the users and we want to thank our community in Telegram and Reddit for supporting us!”