Apricot Finance announces the public launch of Mainnet for October 19 by BTC peers

Apricot Finance announces the public launch of Mainnet for October 19

Next Generation Lending Platform Gives Users Access to Cross Margin Farming, a Whole New Concept in DeFi

NEW YORK, USA, October 19, 2021 – Apricot Finance, a brand new lending protocol based on, is expected to launch its public mainnet on October 19. Apricot Finance’s mission is to maximize the returns of its users while protecting their disadvantages. Apricot Lend, Apricot X-Farm and Apricot Assist are the three distinct functions that make up the first generation Apricot Finance ecosystem. Each of these tools will provide a different service to Apricot users and will be part of a complete DeFi loan package. On top of that, Apricot has been audited by Halborn Security and is also working with other security companies to perform additional security audits of the security of their smart contracts.

Overview

Apricot Finance provides a comprehensive lending platform that allows investors to cross-margin while protecting them from downside risk. The three tools that make up Apricot Finance each perform a different function that allows the protocol to deliver this service. Built on Solana, the platform hopes to leverage fast and low-cost transactions to create a next-gen experience.

The first tool is Apricot Lend which, as the name suggests, is the tool that provides loans and borrowings. Lend is the protocol on which the rest of the Apricot platform is based. It allows users to deposit selected crypto assets and earn interest on them. Alternatively, users can borrow on the platform using their deposited assets as collateral. A key difference about this protocol is that it is cross-margin. Users can deposit any asset in order to obtain borrowing power.

The next layer of Apricot serving is Apricot Cross Farm (X-Farm). This allows users to get into x3 leverage yield farming even if they don’t own any of the underlying tokens. In order to mitigate the risk of temporary loss, many of the first pairs will be stablecoins or indexed assets.

Users can deposit all crypto assets and use them to contribute to this pair. In other words, X-Farm allows users to deposit unstable assets as collateral and in doing so contribute to both sides of a stable cash pool with up to 3x leverage. No conversions are necessary, which streamlines the process and allows users to maintain control over their assets.

The last tool that makes up Apricot is Apricot Assist. This is the fully customizable tool that protects Abricot’s investors from liquidation. Apricot Assist allows investors to choose when to sell or start repurchasing their collateral assets, which assets should be sold or repurchased, and how many of those chosen assets should be sold or repurchased. Apricot Assist is fully programmable to trigger in the event of a decline in the value of the underlying collateral asset. It allows users to automatically manage their own risks and maintain their positions even when not logged into Apricot.

Apricot Finance has already received $ 4 million in the last funding round. A Halborn Security security audit report will be released ahead of the public launch of the Apricot Mainnet. Additional reports from other security companies will follow a few weeks after the public launch. Until additional audits are completed, the contract will remain closed to ensure the safety of investor funds.

Apricot launches its mainnet on October 19.

About Apricot Finance

Apricot Finance is a next-generation Solana-based protocol that enables users to access yield-optimized agriculture while simultaneously giving them the tools to minimize their risk of loss. With the imminent publication of security audits of two separate blockchain security companies, Apricot is committed to ensuring the safety of all values ​​locked in their smart contracts.

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