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Introducing Lendefi Finance
Leveraged trading via secured undercollateralized loans.
The Lendefi Protocol (“Protocol”) facilitates secured lending, delivering confidence to lenders within the highly volatile cryptocurrency marketplace.
Lendefi's Protocol cuts the middleman out of the lending equation and eliminates the red tape involved with lending and borrowing. This removes counterparty risk between the borrower and the lender, creating a trustless transaction.
The lender receives a variable interest rate and through protocols such as Pancakeswap and is secured by the liquidity provided within the DeFi ecosystem. Hence, if the borrower is not able to maintain their loan, the Protocol will ensure the lender is repaid and the borrower credited with the remaining equity.
Borrowers can select from a variety of supported assets for investment, and borrow funds from the Protocol. Supported assets can be added and removed via Lendefi’s decentralized governance mechanism (“DAO”). The base currency for lending and borrowing is BUSD (Paxos), which undergoes regular audits and is subject to regulatory compliance.
Additional information, other links and addresses
What is the LDFI Token?
LDFI is the native token for the Lendefi Protocol (“Protocol”). LDFI is a governance token that controls the interest rate model, inclusion of supported assets, reward distribution, changes in the Protocol and other terms and conditions.
Lendefi governance, via a Decentralized Autonomous Organization (“DAO”), allows active participation of the token holders in the governance of the Protocol.
Any address holding over 1% of the total LDFI tokens can create proposals for Protocol changes. Those changes can then be decided upon via voting on the DAO.
The difference between the interest rate the borrower pays and the rate the lender receives, otherwise known as the "spread", will be used to purchase LDFI tokens from the market for the purpose of burning and rewards.
Through a process known as burning, LDFI tokens will be burnt, lowering the total and circulating supply. This will increase the value of LDFI tokens, creating further value for token holders.
A variety of rewards will be given to encourage the growth of the Protocol and the creation of value for token holders. Reward options will include Staking, Liquidity, Liquidation and Yield Farming rewards.
You can read more about Lendefi's Tokenomics here: https://lendefi.gitbook.io/lendefi-finance/tokenomics