[Archives] Persistence’s focus on Open Finance — Asset-Based Lending
Note: Persistence has pivoted to liquid staking and building DeFi primitives to increase the utility for staked assets. This article is only for archive purposes. Refer to Persistence’s official blog for the latest updates.
The lending system was originated in Ancient Greece and Rome 3000 years ago. Bills of exchange for sea-borne trade originated in India in 321 BC. However, apart from recent efforts at digitization and development of alternative forms of lending such as P2P lending, there haven’t been too many innovations as far as matching of lenders and borrowers goes.
What is Asset-Based Lending?
Asset-Based Lending refers to a loan that is secured using an asset or multiple assets of the borrower as collateral. Assets that may be used as collateral to borrow against are invoices, accounts receivable, inventory, marketable securities, property, etc.
Persistence’s initial focus is Invoice financing — using a seller’s accounts/trade receivables as collateral to obtain financing against.
Read the rest of this article on our official blog: https://bit.ly/3NauaMH
About Persistence
Persistence is a Tendermint-based, specialised Layer-1 network powering an ecosystem of DeFi applications focused on unlocking the liquidity of staked assets.
Persistence facilitates the issuance and deployment of liquid-staked stkASSETs, allowing users to earn staking rewards while participating in DeFi primitives, such as lending/borrowing and liquidity provisioning on DEXs.
Persistence aims to offer a seamless staking and DeFi experience for PoS (Proof-of-Stake) users and enable developers to build innovative applications around stkASSETs.
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