Larix on Solana offers highest UST supply APR, zero fees

Larix is now offering the highest $UST supply APR and the lowest $UST borrow APR in Solana (SOL/USD) with no borrowing fees, according to a post on the official website of the project. Larix is the first metaverse based finance protocol on Solana, supported by Terra (LUNA/USD) and Wormhole.

What is Larix?

This is a project with a dynamic interest rate model, which creates more capital-efficient risk management pools. This includes a wide selection of crypto tokens, collateral types, synthetic assets, stablecoins, NFTs, and other assets (invoices, account receivables, mortgages).

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The rewards system enables continuous incentive allocation to boost demands. The project can accept all valuable assets.

First protocol to maintain basic SPL lending

Larix is the first lending protocol on Solana to maintain basic SPL lending needs, aiming to bridge synthetic assets and other new types of tokens. It’s a great solution for token holders who want to hodl and take advantage of APY interest long-term.

Larix has the following features:

• The first lending protocol audited on Solana
• The first lending protocol with live mining functionality
• The first lending protocol partially open-sourced on Solana

Larix is the lending gateway of Solana, Raydium, and Serum, which leverages pool-based collaterals and a dynamic ratio optimizer to enable instant loans.

Proof of History

Gas fees on Ethereum have been lamented so consistently they hardly deserve mentioning.  Decentralized, scalable, and affordable networks improve the crypto market’s long-term health and allow for quicker transactions.

Solana uses a Proof of History algorithm with a throughput of over 50,000 TPS, almost 1,000 global nodes, average block time of 400–600ms, and extremely low transaction fees of around $0.00025.

Rust is a good alternative to Solidity

Most smart contract-enabled blockchains using Solidity allow developers to build the same way that they would do on Ethereum (ETH/USD), and benefit from the widely available tools and applications.

Solana is brave enough to choose a different path with Rust, which is more ergonomic and compatible than Solidity. It also aims to establish the ecosystem from almost scratch. Several tooling and development blocks are being developed.