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Kulfi Finance is the first Cardano fixed-rate money market. At launch, vaults will be dedicated to stable-asset and pegged-asset pairs, with additional vaults added in the future.  Louis Ryman, Chief technical officer at Kulfi, stated “By building upon Cardano, Kulfi has created a simple way for crypto users to access the benefits of the fixed rate money market.” Kulfi finance facilitates lending and borrowing of Cardano native assets at fixed rates / Terms through an innovative financial primitive called wTokens. Fixed-rate financing touches all the edges of the modern financial markets. Kulfi technology will provide crypto users with the ability to access stable financing. Kulfi protocol is a first of its kind to be built on Cardano, along with its Yield Protocol. Fixed lending/borrow rates are a crucial element of the traditional financial system, allowing businesses and individuals to better plan their future finances. In the crypto space, however, variable rates are the norm; these fluctuating rates make it difficult to compare protocols and use DeFi (Decentralized Finance) for real-world applications. “In order to plan for the long-term, to borrow money for a house or car, people need to know what their costs will be – they need fixed rates” Manolis Kyriacou, Kulfi advisor stated on LinkedIn. Why Fixed Rate is Important in DEFI Most money market protocols on DEFI offer a variable rate in which the interest rate is usually determined through the supply and demand of the token. When the demand rises, the interest rates go up. When the token supply increases, the interest rate goes down bringing uncertainty to the crypto market, this dilemma produces the need for a fixed-rate/term rate. Kulfi fixed loan product is based on the zero coupon bond concept which pays the full face value on its maturity date, with face value representing how much money the lenders receive on the fixed maturity date. Kulfi finance facilitates borrowers and lenders to agree on a fixed rate of interest. Unfortunately, most lending protocols lack this feature and cannot serve as a stable source of credit. Read Kulfi Whitepaper to learn more about the fixed rate protocol. Kulfi Governance Token (KLS) Kulfi ($KLS Token) is the governance token of the Kulfi protocol. It is a Cardano native token that holders can use for proposals, votes, and implementing changes to Kulfi ecosystem parameters and smart contracts. At the heart of kulfi are wTokens tokens (zero coupon tokens). These instruments make the project’s fixed-rate system go round, as they constantly and simply keep track of who owes across kulfi stablecoin markets. KLS is a core native utility and governance asset of the Kulfi ecosystem. The KLS token is on Pre Seed Round and available at a fixed price; for 1 ADA, an investor can claim 200 KLS tokens. KLS holders will be able to take part in crucial referendums on Kulfi’s protocol upgrades. Kulfi Token (KLS) and Utilities KLS is a Cardano token that governs the Kulfi protocol. KLS holders can propose, vote on, and implement changes to Kulfi system parameters and smart contracts. Each KLS holder gets one vote per KLS that they hold. Verify KLS token on Pool.pm KLS holders will be responsible for managing the Kulfi on-chain treasury, setting risk and collateralization parameters, and voting on any proposed upgrades to the Kulfi smart contracts. Here is a short, non-exhaustive list of things KLS holders will need to propose and vote on: Proposing and evaluating upgrades to the protocol Access Grant for Kulfi Borrowers Onboarding new collateral types Setting liquidity fees Activating new maturities for lending and borrowing different assets Transaction fees within the Kulfi Ecosystem can be paid using KLS tokens KLS holders earn a percentage of the fee paid within the Kulfi Ecosystem Loan repayment can be done with KLS token Borrowing on Kulfi Finance: Users on Kulfi Finance can receive fixed-term interest rates on their loans. Firstly, borrowers must deposit funds as collateral. Then, mint negative wTokens. The negative wTokens tokens are representative of the funds borrowed in addition to a chosen maturity date when the repayment is due. At this stage, borrowers can trade and exchange their negative wTokens tokens for cryptocurrency. Lending on Kulfi Finance: Users can lend spare capital to the Kulfi portfolio, As such, lenders will purchase positive wTokens assets that yield a higher valuation than their initial deposit at a future date. The positive wTokens “matures” over time and becomes redeemable for currency upon reaching full maturity. Kulfi Dapp Users do not need to pass the standard identification procedures such as Know Your Customer or KYC processes giving the users full anonymity. Participate in KLS Token Pre Seed Sale Kulfi token Pre Seed Round is the first and limited opportunity for the public to gain exclusive early access to purchase Kulfi token at 0.005 ADA per KLS token. Interested participants can follow the link to purchase KLS token at a fair price – https://kulfifinance.io/buy Conclusion Kulfi Finance solves one of the fundamental problems in the DeFi space. The ability to provide fixed-rate lending makes the DeFi space accessible to more mainstream users and will bring in a flood of new users. At Kulfi finance a user can borrow against your crypto without worrying about changing interest rates. Tomorrow you might be able to take out a fixed-rate mortgage on Kulfi! That’s why DeFi is so exciting. Every day, there is an innovation that expands the reach of this industry. We believe that Kulfi Finance has a good chance of becoming one of the leading lending protocols.