AskoLend decentralized protocol is a fork of Compound Finance. Compound is a decentralized, overcollateralized loans protocol built on Ethereum. AskoLend differs from Compound in that: it will be launched on Binance Smart Chain (BSC), it’s a multichain lending platform, it’s accessible to low, mid, and high market cap tokens, and its lenders are able to select between high and low-risk lending pools. These differences lead to some benefits of AskoLend over Compound.
With AskoLend’s utilization of BSC, the cost and speed per transaction are significantly lowered compared to Compound and Ethereum. With AskoLend’s accessibility to lend and borrow low, mid, and high market cap tokens, the potential scope of AskoLend’s lending and borrowing markets becomes vast; AskoLend has the capacity to list ~70 assets, compared to the 9 assets currently listed on Compound. Lastly, with AskoLend, lenders can pick their allocation between high-risk and low-risk lending pools for overcollateralized lendin