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Crypto lending has become a niche business in the crypto community. Rather than trade or hold tokens, some whale investors put their tokens in liquidity pools or crypto lending platforms to earn money passively. That’s because borrowers of these tokens often pay calculated interest over tokens borrowed for some time.
The latest token-borrowing platform is Kelexo (KLXO). Designed to make crypto borrowing easier, this platform is set to change the dynamics of crypto lending as we know it. It has yet to hit the market, but it will be launched on Web 3 in the coming weeks.
TRON (TRX) holders buy heavily into the Kelexo (KLXO) protocol
The Tron token is the native token for the decentralized application (dApp) launching platform. With the platform’s versatility in function, TRX has seen some impressive gains in the market. However, it has declined in the past seven days.
With a total loss of 13.39% in token value, TRX is now worth $0.59 and is ranked #6 by market capitalization. This loss is why TRX holders have been asked to buy into the Kelexo presale with its 20X gain potential.
Polkadot (DOT) sells at the #44 spot in the crypto market
The Polkadot protocol connects specialized blockchains. Designed by the Web3 Foundation to upscale decentralized finance, Polkadot has become one of the frontrunners in the crypto community. Its DOT crypto is now selling for $9.21, and it is also ranked #13 in market capitalization.
With a loss of over 14.75% in trading volume, DOT is the #44 highest-traded crypto. It comes after a daily average trading volume of $485M was recorded for DOT in the last few days.
Kelexo (KLXO) will remove the KYC process from crypto lending
Kelexo was created to make crypto lending easy. By innovating around the current problems people face when borrowing crypto, this platform has set itself as the best place for crypto lending. That’s why there has been massive buy-in for KLXO in the crypto community. Users hope it will make their lives easier and make crypto lending seamless.
One of Kelexo’s innovations is removing the KYC process. On this platform, users will not need to submit documents or go through biometric scans, as these are unnecessary for crypto borrowing. By doing this, Kelexo will reduce the transaction time for crypto borrowing.
This protocol comes with its native token. It can be used as the platform’s primary currency for all transactions. That doesn’t mean other tokens can’t be used on Kelexo.
Due to its first-mover status, we encourage you to act in the same vein as DOT and TRX holders in adding KLXO to your crypto portfolio. You should check out the presale before it hits the market.
Find out more about the Kelexo (KLXO) presale by visiting the website here.
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Serena James has worked as a writer for different media houses in the past. Currently, she is working as a fundamental writer for thecoinrepublic, covering decentralized finance. When she isn’t writing, she can be found skimming and scanning Twitter and other websites to produce mind blowing breaking stories.
