Founded in 2021 by a distributed team of DeFi experts, Ajna Labs developed the Ajna Protocol, a system for peer-to-peer secured loans that functions without governance or external price feeds. This design addresses the solvency and liquidity risks associated with traditional lending protocols that depend on active governance and external data for pricing and loan parameterization. The Ajna Protocol is a noncustodial, peer-to-pool, permissionless system where users can lend and borrow without token whitelists, and anyone can establish a lending market. It supports both fungible (ERC20) and non-fungible (NFT) assets as collateral. The protocol is fully automated, and after its launch, the development team will not perform further updates or maintenance. Users can interact with the protocol via third-party interfaces such as Ajnafi.com and Summer.fi.
