Hatom, a lending protocol, has launched on the Elrond blockchain. Hatom is a decentralized, algorithmic protocol for lending and borrowing assets that will be the first of its kind to operate on the Elrond Network.
On this platform, suppliers provide liquidity to the market and earn interest on their deposits, while borrowers can take loans in an over-collateralized fashion.
Hatom uses an on-chain governance mechanism that enables the protocol’s users to vote for protocol changes directly on the blockchain; it was developed to provide individual users with more influence in the governance process.
The protocol’s team continuously collects feedback and uses it to create specific polls to match the community’s needs and upgrade the app according to its preferences. The Developers are primarily concerned with providing the users with an unparalleled experience and ensuring their security.
The development team experienced consultants and auditors have committed significant time, effort, and financial resources to develop a safe and reliable lending protocol.
Behind the scenes
Co-CEO & COO Ahmed Serghini is justifiably considered a visionary cryptopreneur with an extensive experience in cryptocurrency. He has been involved in blockchain technology for more than a decade now and was among the first and early adopters of the Elrond blockchain.
Blockchain and cryptocurrency innovations are disrupting how we interact with our finances. Ahmed believes in these technologies and has a proven track record of making early investments in business ventures with massive development potential in the cryptocurrency space.
Being a daily DeFi user and an early investor in the Elrond Blockchain, he was surprised to see that it was missing a lending protocol. So, he embarked on a mission to create a protocol that provides users with the best possible experience, focusing on convenience, security, and ease of use.
The mission of the Hatom protocol is to overcome the challenges associated with current lending protocols and offer its users a comprehensive, user-friendly protocol.
Spreading awareness about DeFi and lending protocols
Disruptive services like DeFi are topics supposedly reserved for experienced professionals. But this is far from the truth, and if we as a community want the general public to benefit from market advances, we must dispel this myth.
The people behind Hatom have a purpose of democratizing and making these exclusive services mainstream. Their objective is to educate the general public about DeFi and lending protocols to make them available to everyday people.