Celsius Network has indicated that the platform would soon add Cardano (ADA) to its cryptocurrencies eligible for borrowing collateral and yield returns on August 19.
In a Twitter post, Alex Mashinsky, CEO of digital asset lending business Celsius Network, stated that users would “be able to take a 1% APR loan using ADA as collateral on the same day”.
Furthermore, users will be granted a yield rate of 4.05% as the platform capitalizes on the rising popularity of ADA, with Cardano witnessing increased adoption over the last year.
Recently, Cardano founder Charles Hoskinson confirmed in a live stream update users can “run smart contracts the moment hard fork comes on” in relation to the new “Alonzo” hard fork.
