Nok Crypto Startup $ 2.5 million from Coinbase Ventures, Defy.vc and UDHC

NOOK seeks to facilitate non -local users who are not criminals to increase the amount of their possessions through services such as AAVE, which allows users to lend Crypto to borrowers in exchange for attention.

Joy Ishaqoun, CEO and Founder of Nok, said, said, luck His team estimates that the user should take 14 different steps to reach the medium lending platform. This, he says, creates an obstacle to the entry of encryption investors who do not understand Blockchain technology complications and have no time to learn them.

Isaacon said that Nok hopes to strip some of the complications of other platforms by allowing customers to register with an email instead of having to connect an encryption wallet.

He said: “What we are trying to do is to make the experience much easier, and make correspondence more clear … and adhere to a clear preparation where we are within the organizational limits and we are following the rules.”

While ISAACSON says the company is planning to provide more lending programs in the future, NOOK was launched to the public on Wednesday with one partner, MoonWell, a lending platform founded in 2021 by other graduates.

Before launching it publicly, Nook on the customer was slowly from the waiting list of more than 50,000 people. These users received 8 % annual return by lending them Bitcoin Or some other encryption of the Moonwell borrowers via Nok. “We cannot guarantee that, but this was the result that users see,” said Isaxon.

Since the cryptocurrency currencies are very volatile, it is risky to participate in lending and borrowing from encryption. However, MoonWell and other companies like them are trying to reduce the risks involved in the claim of borrowers to “excessively submit” their loans, which means that they have put in encryption more than they come out of the program for investment. In the case where the guaranteed encryption value falls to a pre -defined threshold, the borrower is automatically filtered, which means that they are forced to re -loan and sell the guaranteed encryption program.

Another graduate of Coinbase and former CEO of the lending protocol, Jayson Hobby, is following a similar project called legend. The Hobby platform allows users to extensive access to multiple decentralized financing applications – logic that facilitates a third -party financial job such as the bank – instead of forcing users to log in to a number of different accounts.

Currently, NOOK is free for customers to use. However, ISAACSON said he would consider different revenue options after the company attracts a large user base. “Once we can make this connection and continue to build our society, we see some revenue options on the road,” ISAACSON said.

The company will use the money collected on this tour to control its technology, market its products and distribute it.