Ajna
Learn more about Ajna Protocol and Summer.fi
Ajna is a non-custodial borrowing and lending protocol for Ethereum. It has some key innovations that set it apart, it’s oracle-less and governance-less in design while providing a peer to pool model.
This means that Ajna does not rely on any external price feeds in order to determine asset prices and does not utilize governance voting to set rates, loan to values or any parameter at all. The process of determining the right rates, prices and loan to values are entirely market driver and handled by an internal order book within the protocol itself.
This innovative design reduces risk by removing external points of potential failure or manipulation.
In addition, Ajna is permissionless, meaning that anyone can create a pool for any ERC-20 or ERC-721 compliant assets.
The protocol is completely decentralized and will run autonomously from Ajna labs or any party. Set in stone, the protocol guarantees no risk from governance errors.
What is the relationship between Summer.fi and Ajna?
At summer.fi our main goal is to become the most trusted place for you to deploy your crypto into DeFi. In addition, we want to play our part in growing the ecosystem.
To do that, we are giving our users access to a curated set of the safest, most innovative protocols in DeFi, fostering their growth and advancing the industry.
In this spirit, summer.fi is partnering with Ajna protocol to give you the best user experience available on the Ajna. We have taken the known and loved Summer.fi UX and combined it with Ajna to give you the best experience to take advantage of a new and innovative protocol.
In addition, summer.fi users of the Ajna protocol will receive additional Ajna token rewards, exclusively available on summer.fi.
What can I do with Ajna on Summer.fi
Summer.fi user are able to Borrow, Earn and Multiply on a curated list of Ajna pools with a dedicated UI made tailored for a familiar lending protocol experience. For advance users to enjoy the capabilities of the protocol beyond what’s normally available in lending markets we have a permissionless UI where anyone can borrow and lend against anything.
Borrow
Users looking to take out a loan using one of their existing assets as collateral can borrow using Summer.fi. Since Ajna has no oracles, we have augmented the UX of using Ajna by providing useful information in the page like prices from external sources such as Chainlink.
The benefits of this approach are that you can use Ajna comfortably with enhanced UI and UX provided by Summer.fi. In case an oracle reports a wrong price, something that has happened in the past and is a key issue being solved by Ajna, only the UI will be affected, your position will continue to work normally, requiring only a minor action to change the price information show in the UI. Ajna employs a peer to pool model, meaning that risk is pair dependant, instead of every user sharing the risk from any asset in a single pool you can borrow or lend against a specific asset limiting the risk for lenders. This means that you will find many pools with different borrow rate, maximum LTV and minimum position size, determined by the system. And you will be able to find the one that fits your needs.
Summer.fi does not charge any fees to borrow users, but be aware that the protocol has an ‘Origination fee’ whenever you open a borrow position or take additional debt in your position.
Earn
Earn is for users looking to lend out some of their assets in return for a yield. With Earn users will select the token that they want to lend out and the pool in which they will deposit their liquidity.
Ajna works different to most lending protocols for lenders and requires some understanding of how the protocol works but don’t worry, we have some useful guides for everyone to select a right position fitting your specific needs.
Multiply
Our users already enjoy the best UX to multiply their exposure to their preferred assets right in our supported protocol and Ajna is no different. With Summer.fi Ajna multiply, you will be able to take advantage of price movements with increased exposure to your selected assets. And what’s more since Ajna is a permissionless lending protocol you will soon be able to multiply your exposure to many different assets that you can’t find anywhere else.
Fees
| Fees | Ajna Protocol | Summer.fi |
|---|---|---|
Borrow | Origination Fee | No fees on basic borrow actions of the underlying protocol |
Multiply | Origination Fee | 0.2% over the multipled amount |
Earn | 8 hours of interest for deposits in all ranges | No fees for basic deposits and withdrawal actions |
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