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The world is, without a doubt, moving towards digitization with no indications of slowing down. DeFi and cryptocurrency are changing the landscape of transactions and investments. Investors with small capital could only focus on stocks in the past, but the real money lies in real estate. Today, anyone can invest in cryptocurrency and see large returns.
With the proliferation of blockchains and cryptocurrencies, tech entrepreneurs have been scrambling to keep pace by creating e-wallets that are interoperable with all cryptocurrencies and allow for easy trade. However, as Ahmed S. and his team noticed, there weren't any lending protocols on the Elrond Blockchain, which was how Hatom was developed by the team.
“I believe that lending is the future of Defi, and Hatom will be at its forefront,” says Ahmed S. COO of Hatom Labs. At the time of writing, Hatom is the only Elrond Blockchain-based decentralized lending protocol. There are none on the market, and Hatom Labs is eager to capitalize on the opportunity by offering a comprehensive money market ecosystem that allows its users to borrow, lend, and invest their crypto assets with the click of a button. The convenience offered by the platform is also backed by security measures that will protect every transaction, making them not just one of, but the most secure lending protocol, this will be largely due to the constant auditing.
The protocol is designed for both lenders and borrowers. Hatomers will be at the very core of the project as it will be community-driven.
“What this means,” explains Ahmed S., “Is that the users are the ones who benefit from the protocol, and it’s the users who will decide what features will be integrated, and what tokens need to be added. Overall, we’re looking to enhance the user experience by listening to our users. If they have ideas on how to improve the protocol or its interface, Hatom will listen and evolve alongside its users.”
One of the key features of Hatom is that it puts users in control of their finances and investments. Whether they have experience with protocols or not, they’ll find Hatom to be easily navigable and user-friendly.
Being Elrond Blockchain’s first and only lending and borrowing protocol gives Hatom an edge over any potential competitors. As pioneers, they are aiming to revolutionize the lending space so that investors will not have to settle for low selling prices when they are in a bind.
“I was in that predicament,” says Ahmed S., “Last year, while on vacation, I needed to sell some of my EGLD but its drastic drop on the market didn’t make sense for me to sell it, so I tried to find a lending protocol which accepts EGLD, yet was astonished to find out there was none. I suppose it was by chance that I stumbled upon something ripe for innovation, and here we are with Hatom which is currently in beta mode and set to launch in late 2022”.
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