Dharma, a startup developing borderless lending products on the blockchain, announced this week the alpha launch of Dharma Lever, a trustless service for accessing margin in high volume using the Dharma Protocol’s open-source smart contract infrastructure.
Introducing Dharma Lever, the easiest way to access margin in high volume from anywhere in the world, affordably and instantly.
If you're interested in becoming an Alpha partner and receiving early access, request an invite today! https://t.co/AULpmAmJ1t
— Dharma Protocol (@DharmaProtocol) October 25, 2018
According to the announcement, Dharma Lever helps fill the infrastructural gap for traders looking to trustlessly borrow and lend crypto assets in large volumes. The system bypasses the limitations found on singular, centralized exchanges, namely liquidity and security limitations, creating a network of debt relayers that enable an open loan and credit marketplace.
Dharma Lever simplifies the process of locking up collateral and receiving margin funds, which is instantaneous and can be easily transferred across the web. Traders can customize their desired loan terms, including asset type, collateral and duration, according to the announcement.
Dharma states that the new system is compatible with any cryptocurrency wallet and that MetaMask or specialized web3 wallets are not required. The company is also building out a portfolio management platform to allow for easy tracking of funds and taxes.
Dharma Lever is currently only compatible with Ethereum-based tokens, but the company has plans to eventually expand to include Bitcoin.
The Dharma team is currently looking to partner with institutions for their ongoing alpha, and are specifically requesting those capable of trading $100,000 in Ethereum-based assets.
More: Introducing Dharma Lever
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.