Ajna Protocol AJNA

1. Summary

Ranks

Liquidity

71

Developer

21

Social

38

Momentum (beta)

0

Stack Rank™

-

Price

$0.01 -22.8%

Market Cap

$2.74M (#2106)

Supply

8.35M / 998.40M

Tags

Ethereum Ecosystem

More Metrics

Price
52W High price	$0.37
52W High date	24th Jan 2024 (6 months ago)
All Time High (ATH) Date	24th Jan 2024 (6 months ago)
ATH Price	$0.44
% From ATH	-79.63%
All Time Low (ATL) Date	19th Jan 2024 (6 months ago)
ATL Price	$0.06
% From ATL	38.04%

Supply & Trading Volume
Trading Volume (24h)	$133,946.00
Total Supply	998.40M
Max Supply	1.00B
Circulating Supply	8.35M

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Description

The Ajna protocol facilitates peer-to-pool secured loans without governance and without external price feeds. Current lending and borrowing protocols which utilize smart contracts require active governance (e.g. to set rates and to update contracts) and/or rely on external price feeds (such as oracles like Chainlink). Because the pricing of collate...

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The Ajna protocol facilitates peer-to-pool secured loans without governance and without external price feeds. Current lending and borrowing protocols which utilize smart contracts require active governance (e.g. to set rates and to update contracts) and/or rely on external price feeds (such as oracles like Chainlink). Because the pricing of collateral and parameterization of loans are left to subjective decision making through governance rather than market forces, these protocols carry both solvency and liquidity risk. Governance and maintenance overhead create barriers to entry in the market for lending and borrowing of on-chain assets. Ajna solves these problems with its unique design, which is defined by the following features:

Permissionless Pool Creation

Ajna pools allow lenders to assess borrower demand for their quote token and for borrowers to assess lender demand for loans backed by their collateral. Pools are created permissionlessly, meaning anyone can create a pool to borrow arbitrary fungible tokens using arbitrary fungible or non-fungible tokens as collateral. Therefore, no governance process is needed to whitelist approved tokens.

Price Specified Lending

Ajna replaces external price feeds (oracles) by allowing lenders to input the price at which they’re willing to lend. This price is the amount of quote token (i.e. the token they are lending) they are willing to lend per unit of collateral pledged by the borrower. For example, if a lender deposits at price 100, they are willing to lend 100 units of quote token per one unit of collateral. Ajna pools separate prices into predefined buckets to reduce the complexity of the protocol, prices are therefore hereon referred to as “buckets.” Borrowers are then able to borrow from the aggregated liquidity of these various buckets.

Ajna is designed to improve on the existing DeFi borrowing and lending space by giving users a truly decentralized system with more options and less systemic risk. The protocol operates by allowing users to create lending markets for both ERC20 and ERC721 tokens without relying on governance or external price feeds. This design enables users to borrow and lend against almost any asset in their wallets, including NFTs, real-world assets, blue-chip tokens, and "meme-coins."

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