The Ledn cryptocurrency lender is eliminating the support for Ether
And Bitcoin’s only loan model will begin to offer only July 1, as it seeks to simplify its product and sharpen its Bitcoin approach.
The company registered in the Cayman Islands may be trying to expand its appeal among the corners of the cryptographic community that says that BTC is the only cryptocurrency that is needed. These defenders of BTC are often known as “Bitcoin Maxis”.
“With our new hyper-emphasis on Bitcoin’s just loans, we will return to our roots and principles that inspired Bitcoin to begin,” said co-founder Adam Reeds in an announcement sent by email on Friday.
LEDN will also stop providing customer assets to generate performance, as it seeks to eliminate the risk of your business model. Bitcoin offered to LEDN since the guarantee for loans will remain completely in his custody or that of his partners, said Ledn.
“Traditional finances are based on constantly reusing customer assets to create leverage and, ultimately, inflation,” Reeds said. “Bitcoiners instinctively reject that model.”
Cryptocurrency loans were an important victim of cryptographic winter in 2022, with companies such as Blockfi, Voyager, Celsius and Genesis that go to the wall.
LEDn managed to survive and is now trying to resurrect the loan sector backed by BTC, with its supply of simplified products and helped by the most friendly regulatory approach to cryptography in the United States, co -founder Mauricio Di Bartolomeo told Coinndesk in a recent interview.
