What Has Xend Finance Been Doing The Last Six Months? More Than You Know!

Product Development Story by Ugo Aronu, Xend Finance CEO.

At Xend Finance, two months after our engineering team deployed version 1 of the Xend Finance protocol, which became the first and only DeFi platform for credit unions and cooperatives, we immediately started thinking about more advanced systems that would make DeFi more scalable. Our goal has always been to think bigger and aim for mainstream adoption.

With current yield-earning systems, including version 1 of Xend Finance, we spotted a major gap and opportunity, which is being able to maintain good yields as adoption increased and more capital flowed into DeFi.

The question that made this very obvious was this; “If we onboard about one billion people into DeFi right now with the aim of earning up to 10% APY, will the current technology support such yields?” At that point, we realized that Xend Finance had to build much more improved systems in DeFi to handle this future problem, because the answer was obviously “No”.

The next question was, “how the heck do we do this?”…

Click “Read Here” to enjoy the full product story. We have made the impossible, possible 😁