Aada V.1 app is a peer-to-peer lending and borrowing protocol on the Cardano blockchain. It allows users to submit loan requests and lend assets in an order book style. Borrowers can place inquiries by setting custom parameters like asset type, amount, collateral, term, and interest. In turn, lenders can choose whether to fill orders and liquidate them. The initial Aada protocol is a prequel to the V.2 version, which will include a pooled lending mechanism.