PAID Network Forms Partnership With DefiCliq
As part of our ongoing efforts to forge relations with up-and-coming projects and build out our ecosystem of synergistic partners, we’re pleased to announce that we are partnering with DefiCliq — a Polkadot-based democratic lending protocol.
DefiCliq aims to provide a single unified interface for DeFi features on Polkadot — starting with the lending market. The platform wants to revamp the current blockchain financing landscape by becoming one of the first platforms to support undercollateralized loans thanks to its use of UTU’s creditworthiness API.
DefiCliq CEO Shantanu Kumar comments:
“PAID Network’s smart contract-based legal toolkit represents the future of the business agreements and community governance. With DefiCliq integration, we hope to facilitate even more capable SMART agreements and provide additional utility to users.”
PAID Network will integrate DefiCliq’s lending and insurance products within the PAID dApp — giving our users access to insured lending markets and undercollateralized loan options. PAID will also be working together with DefiCliq to explore ways to integrate our technology into its product stack, helping to provide additional value to both communities.
PAID Network CEO Kyle Chasse on the partnership:
“At PAID, we’re trying to make business exponentially more efficient via the PAID dApp and SMART agreements. DefiCliq perfectly aligns with this vision by maximizing the capital efficiency of both lenders and borrowers thanks to its DAO-based governance structure and undercollateralized borrowing features. We’re excited to see where this collaboration will lead us!”
DefiCliq is a Polkadot ecosystem project that looks to disrupt the peer-to-peer (P2P) loans market by becoming one of the first platforms to offer undercollateralized loans.
But more than this, it is an entire DeFi ecosystem in its own right. Through DefiCliq, users can stake their tokens to earn rewards, participate in yield farms, and interact with the broader Polkadot network thanks to DefiCliq’s interoperability capabilities.
Being built on the Substrate platform, DefiCliq will soon be able to facilitate loans across multiple Polkadot chains with minimal transaction fees.
PAID Network seeks to redefine the current business contract, litigation, and settlement processes by providing a simple, attorney-free, and cost-friendly DApp for users and businesses to ensure they #GetPAID wherever they are in the world.
PAID technology leverages Plasm to operate on both Ethereum and Polkadot ecosystems. PAID makes businesses exponentially more efficient by building SMART Agreements through smart contracts in order to execute DeFi transactions and business agreements seamlessly.
PAID streamlines backend legal operations with SMART Agreements, so that projects can focus on making their brand bigger and better.
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