Nitrogen Network: Decentralized Secured Loans Platform?
What Is Nitrogen Network?
Nitrogen is a decentralized P2P network for secured loans, where users can earn interest by lending. On the platform, users can find someone to “rent” their crypto assets on their terms, with their collateral held safely by a smart contract as an escrow agent.
Nitrogen also allows users to borrow assets to trade in the crypto market. They can get liquid assets they need without selling long-term holdings to go short, invest in ICOs, or utilize assets in other trades.
Borrow And Lend In A Safe And Transparent Way
At Nitrogen, users have the opportunity to borrow and lend in a safe and transparent way. This is possible by keeping exclusive assets control where all private keys remain on the client-side applications. Nitrogen does not have access to the user’s assets.
Besides, it’s possible to trade the way they want, defining all the deal terms, and collaborating with the counterparty directly. They can also protect their loans, which are always secured with collateral. Additionally, it’s possible to remain flexible in trading by using partial matching mode to make an order available for many users, which enables them to split an order.
Getting Started On Nitrogen Network
- The process starts with signing up and connecting an account to Metamask.
- Once the account is up and running, users can browse orders that match their request
- Users can create their own order with simple step-by-step setting process
- They can manage their trades and orders, collaborate with the counterparty to change trade conditions
Nitrogen Network Mission
Since it’s a decentralized P2P lending network, its mission is to increase the liquidity of cryptocurrencies and improve their availability. Therefore, the platform opens more opportunities in the crypto space for everyone to provide them with an easy-to-use but powerful platform to manage their crypto portfolios more effectively.
Nitrogen Network has a team of committed developers with several years of experience in the banking and crypto industry. That team came up with a relevant platform to serve fellow members of the community. Their experience in the industry, together with the collaborations they have made with like-minded partners will ensure that their products are secure and efficient.
To crown it, Nitrogen Network works for everyone. The primary objective of the platform is to improve the experience of cryptocurrency hodlers as well as traders who can use it on various platforms such as wallets and exchanges.
Easy To Use
Nitrogen comes with an intuitive interface that makes it easy for even new users to learn the platform. The platform is also available on Telegram and e-mail to assist their customers with any questions.
Nitrogen Network And Paxos Partnership
The Nitrogen Network has collaborated with Paxos (PAX), which is a USD stablecoin, upon launching their crypto-loan platform. This partnership enables Nitrogen customers to easily withdraw PAX in exchange for their crypto loan deposits. The platform selected PAX because it is a 1:1 USD backed cryptocurrency, which means it’s a stable digital asset with all the trust and stability of Fiat currency.