Ajna Oracle-free lending
3 known investors
Ajna is a decentralized protocol for peer-to-peer secured lending and borrowing of on-chain assets, operating without governance or external price feeds. It uses smart contracts where collateral pricing and loan parameters are set by market forces rather than governance.
Also known as Ajna · Ajna Labs · Ajna Protocol
Investors · 3
Company profile
researched Aug 2026Ajna is a noncustodial, peer-to-pool lending, borrowing and trading protocol for on-chain assets. The system is built around pools that pair lenders and borrowers and is designed to function without governance processes or external price oracles. Users can lend and borrow without token whitelists, and anyone can create a lending market.
The protocol supports both fungible ERC-20 tokens and non-fungible ERC-721 assets as collateral, with listed examples including WBTC, ETH, USDC, DAI, USDT, BNB, UNI, AAVE, COMP, SUSHI, MATIC, MKR, YFI, ENS, LINK, CRV and BAYC, among others. Documentation published by the project includes a whitepaper, an SDK reference and an "Explain Like I'm 5" explainer. The project also describes a mechanism through which ecosystem participants can deploy a communal treasury on a quarterly basis, and it operates a grants program.
Business model
Ajna is presented as fully automated smart-contract infrastructure: once launched, the team states it will move on and cease to update or maintain the protocol. User-facing access is provided by third-party front ends rather than by the protocol team itself.
▸Full profile — market position, technology, go-to-market
Market position
Operation without governance, without external price feeds and without token whitelists, allowing any participant to create a lending market for most ERC-20 and ERC-721 assets, with an intended end state in which the protocol is left unmaintained and fully automated.
Technology
Smart-contract pools implement peer-to-pool lending and borrowing without reliance on external price feeds or a governance layer; collateral can be fungible ERC-20 tokens or ERC-721 NFTs. The project publishes a whitepaper and an SDK, maintains an open-source GitHub code base, and states that the protocol has been reviewed in code audits by outside security firms with published reports.
Go-to-market
The protocol is accessed through independently built and maintained front ends, including Ajnafi.com (permissionless pool deployment for ERC-20 or NFT assets, built by MOM) and Arb Capital (curated vault access plus a direct protocol interface). Community channels include Discord, a public forum, X/Twitter (@ajnafi) and GitHub, and the project runs a grants program.
DeFi-native lenders, borrowers and power users seeking permissionless markets for ERC-20 and NFT collateral, plus integrators and front-end builders constructing interfaces and vaults on top of the protocol.
Compiled by commissioned research from 1 cited public sources — announcements, filings, and press listed under research sources below.
▸Research sources · 1
primary sources listed
- Ajna Oracle-free lendingajna.finance · web
1 public sources were cited for this profile; the first-party ones are listed here.
Frequently asked questions
- What does Ajna Oracle-free lending do?
- Ajna is a noncustodial, permissionless DeFi lending protocol that runs without governance or external price feeds.
- Who are Ajna Oracle-free lending's investors?
- Ajna Oracle-free lending's investors include Hash3 Capital, Kraynos Capital, Nascent.