- Liqwid Finance introduced the launch of its game-breaking Cardano (ADA) exchange-traded product (ETP) on the Deutsche Börse XETRA on Might 22.
- Traders can even commerce the Cardano ADA Staking by Liqwid (CASL) ETP on the SIX Swiss Change.
Key Options of the Cardano ETP by Liqwid Finance
Liqwid Finance is a liquidity protocol constructed for lending and borrowing Cardano native belongings. Beforehand, the platform launched the CASL ETP on the SIX Swiss Change. Lately, it announced the itemizing of the identical monetary instrument on the regulated section of Deutsche Börse XETRA beginning on Might 22.
CASL ETP works just like the exchange-traded funds (ETFs) we’re accustomed to. It tracks the worth of Cardano’s native token, ADA. Nevertheless, along with that, it supplies staking rewards for traders. This twin reward system highlighted by its litepaper undoubtedly makes CASL stand out as an ETP.
CASL ETP is 100% bodily backed by Cardano belongings stored inside a chilly pockets. Copper Technologies (Switzerland) AG serves because the custodian of the product’s underlying asset. Liqwid named Movement Trades BV as a certified participant for its ETP.
CASL ETP’s staking characteristic generates a 0.75% reward. In the meantime, it fees a 1.5% administration charge for the monetary instrument. Switzerland-based issuance.swiss AG serves because the issuer of the ETP.
The brand new Cardano ETP supplied by Liqwid removes the painstaking course of that cryptocurrency traders usually bear, equivalent to searching for a appropriate pockets and setting it up to be used. CASL ETP additionally offers them peace of thoughts with its regulated nature. Furthermore, it leverages the reliability of the Cardano community, which hasn’t skilled any type of outage up to now 5 years.
Assertion of Liqwid’s Co-Founder
Florian Volery, the co-founder of Liqwid Labs, mentioned that CASL ETP combines the perfect of each worlds in conventional finance (TradFi) and digital ledger expertise (DLT). The decentralized finance (DeFi) entrepreneur hyped the product as a “transformative leap” in forging a brand new normal for digital asset administration.
Compared to conventional belongings, Volery famous that CASL ETP is extra accessible, cost-effective, safe, and easy. In the meantime, the redistribution of its staking rewards additionally elevates it from normal crypto ETPs.
The Liqwid Labs co-founder additional emphasised that CASL ETP has no lock-in interval. Subsequently, it gives instantaneous liquidity at any given time throughout its buying and selling intervals.
About Liqwid Finance
Liqwid is a decentralized and open-source protocol specifically made for lending and borrowing Cardano’s native token, ADA. As of Might 23, the platform’s complete worth locked (TVL) was $38,994,125.59. Its options embrace assist for non-fungible token (NFT) staking by way of LiqwidDAO.