Relite Finance launched its native token RELI today

The DeFi market is expanding with staggering speed. However, there are lots of problems to overcome, such as lack of interoperability, high fees, over-collateralization, and lack of usability. In the DeFi space, the defragmentation of assets is still very high. As a result, users cannot use native BTC, DOT, ETH, or other major cryptos in one protocol.

Furthermore, users have to surrender approximately 180% of the loan value in collateral to protect from liquidation. They also have to pay enormous fees to interact with many existing DeFi protocols. Thus far, there is no all-encompassing and straightforward UX required for accelerating the mass adoption of the DeFi space. However, Relite Finance is trying to change that. The company has a well-organized roadmap and, thus far, managed to follow it successfully.

Relite Finance launched its native token’s ICO today. The project goal is to raise $507,780 by trading 11,284,000 tokens at an ICO price of $0.045.

What is Relite Finance, and how will it help to solve DeFi problems?

Relite Finance is a cross-chain lending protocol. It enables customers to lend and borrow all cryptocurrency assets in one place. The platform does this by utilizing the latest Ethereum and Polkadot frameworks.

The company offers investors various advantages, such as a cross-chain approach from the first day. It is working to build its solution around interoperability. As a result, Relite Finance allows customers seamless communication between different chains.

Furthermore, related Polkadot projects will provide dedicated lending and borrowing pools, thus enabling high liquidity. That is unique to the Relite protocol.

The platform also offers much lower fees for contract execution and pool flexibility, along with reasonable interest and accessible collateral ratios for borrowers.

Relite aims to redefine the DeFi lending space by overcoming the existing barriers. Customers holding its native tokens will be able to vote on product features and token utility, as well as decide which chains will be integrated into the protocol.