Mendi is a lending protocol on Linea forked from Compound v2. The project accepts stables, wETH, wBTC, wstETH and LRT. Check out our detailed overview of the protocol <a href="https://www.notum.ai/blog/mendi-finance-farm-crypto-points-to-the-fullest">here</a>. Do not hesitate, we have added there one bonus investment strategy!

What Is Mendi?

Mendi has two types of points: MLP and MLP-L, distributed as non-monetary tokens. MLP accounts for 83.4% of the total supply and is awarded for borrowing assets and $MENDI staking. MLP-L, comprising 16.6%, is accrued for providing liquidity. Mendi points will be used for reward distribution in the future.

How to Get the Airdrop?

Mendi LP

Supply weETH

One of the most beneficial options in terms of points is weETH lending. Users can just buy weETH on Notum and stake to Mendi to enjoy additional rewards. Earn reward APR in $MENDI, MLP-L, LXP-L, Eigenlayer points and 2x <a href="http://ether.fi/">Ether.fi</a> loyalty points.<ol><li>If you already have weETH on other networks, bridge it to Linea <a href="https://app.notum.ai/bridge">here</a>;</li><li>Go to Mendi weETH lending on <a href="https://app.notum.ai/investments/5d0d9ae4-f54b-4038-9396-1e9b97a5fc2e">Notum</a> and choose any token on Linea you want to swap to weETH.</li><li>Click “Deposit”;</li><li>Approve the transaction.</li></ol>

Note that asset borrowing may result in position liquidation. Despite both wsETH and weETH being pegged to the price of ETH, the tokens may depeg. Moreover, borrow and supply rates tend to be very volatile. Use this strategy at your own risk.

Liquidation Risk

Recursive weETH lending

Most of the points come from borrowing initiatives in MLP so to earn more of the tokens, people can just borrow against their assets. To make the process less risky, users can borrow wstETH against their weETH, exchange it to weETH, and again supply it to Mendi. Borrowed funds bring 2.5 times more points compared to lending. With Notum, users don’t spend time exchanging tokens, as swapping takes just 1 click. Earn APR in $MENDI, MLP-L, MLP, LXP-L, Eigenlayer points and 2x <a href="http://ether.fi/">Ether.fi</a> loyalty points.<ol><li>Go through all the steps of the previous strategy;</li><li>Visit <a href="https://mendi.finance/">Mendi Finance</a> and click “wstETH” in “Borrow Assets”; <img src="https://storage.googleapis.com/notum-platform/airdrop-strategies/screenshot-20240709-at-14.30.56.png" width="2396" height="1398"></li><li>Move the slider to 80% or less and click “Borrow”; <img src="https://storage.googleapis.com/notum-platform/airdrop-strategies/screenshot-20240709-at-14.32.31.png" width="982" height="1344"></li><li>Visit <a href="https://app.notum.ai/investments/5d0d9ae4-f54b-4038-9396-1e9b97a5fc2e">Mendi weETH page</a> on Notum once again and select wstETH as a deposit asset;</li><li>Click “Deposit”, wstETH will be automatically converted to weETH and staked on Mendi. Awesome!</li></ol>

There are no perpetual futures on $MENDI so the token cannot be hedged. By staking $MENDI you accept its price volatility.

Market Risk

$MENDI staking

Mendi Finance gives &gt;40% rewards to $MENDI stakers. Staking has similar mechanics as asset borrowing: the same amount of money will generate 2.5 times more rewards compared to simple liquidity provision. Earn returns in $USDC, $LYNX and MLP points. Note that $MENDI has a redemption period of 7 days.<ul><li><a href="https://app.notum.ai/swap?assetFrom=0x0000000000000000000000000000000000000000&amp;chainIdFrom=59144&amp;assetTo=0x43E8809ea748EFf3204ee01F08872F063e44065f&amp;chainIdTo=59144">Buy</a> $MENDI;</li><li>Visit <a href="https://mendi.finance/stake/sMendi/">Mendi</a> and choose $uMENDI Staking; <img src="https://storage.googleapis.com/notum-platform/airdrop-strategies/screenshot-20240708-at-17.58.11.png" width="2744" height="1370"></li><li>Choose the amount;</li><li>Approve and stake tokens.</li></ul>

Mendi LP

Quick info

Current TVL

Networks

Networks

Funds raised

Pros

Cons

How to Get the Mendi LP Airdrop?

What Is Mendi?

How to Get the Airdrop?