About Lendle
Lendle is a lending and borrowing protocol that empowers users to make the most of their cryptocurrencies by engaging in complex financial strategies and acting as a catalyst that promotes further participation in the DeFi market.
Lendle is developing a new generation of DeFi features, building on the foundation created by giants like Aave and Geist. By having Mantle Network on their side, Lendle can expand the services offered by our platform and bring a new level of features to decentralized finance.
Lendle innovates DeFi by:
- Optimizing excess liquidity by providing this to DEXes to reduce swap fees;
- Creating isolated lending opportunities to list exotic tokens without risking bad debt in the rest of the market;
- Enabling an undercollateralized lending feature;
- Integrating an improved VeTokenomics-style lock model to align user interactions and motivate sticky liquidity.
Lendle aims to provide users with a wider range of options for lending and borrowing, the protocol incentivizes the growth of DeFi, building a more steady and sustainable financial system that benefits everyone.
Why on Mantle Network?
As you may know, the Mantle Network has integration with EigenDA technology. EigenDA helps the Mantle Network reach the goal of reducing L2 transaction fees. With EigenDA, Lendle users can be sure looping of lending and borrowing transactions will be cost-efficient.
The Mantle Network also implemented optimistic rollups, a layer 2 scaling solution that massively improves the blockchain’s scalability and throughput. This empowers Lendle users to achieve a high volume of transactions, ensuring a seamless user experience even when blockchain activity is at its highest.
By implementing multi-party computation (MPC), Mantle reduces the challenge period to 1-2 days. By doing this, it increases overall confidence by having nodes verify blocks independently.
Another great thing about Mantle is the strength and credibility of the network. Mantle Ecosystem is famous for its commitment to advancing the development and adoption of blockchain technology, bringing extensive industry knowledge and expertise.
Transparency and openness that the Mantle Network team actively supports and translates by providing the necessary resources and assistance to turn ideas into reality is another of Mantle’s strong points.
The overall functionality and the Mantle team’s dedication to empowering innovation make it an ideal choice for Lendle.
$LEND Utility
$LEND is Lendle's native token, with a total supply of 100.000.000 tokens, deployed on Mantle Network.
Source: Lendle Docs
$LEND token fuels the supply and borrowing of the assets in the Lendle markets. The $LEND rewards vest over 3 months and users share in the protocol's revenue during this period.
Source: Lendle Docs
The model provides the locking, staking, and vesting of the $LEND token to create sticky liquidity. Users who want to unlock their rewards before the vesting period ends incur a 50% penalty on the amount they wish to unlock. The penalty is redistributed among those who lock their $LEND.
Staking & Locking
Investors can share in the protocol's revenue by:
- staking $LEND in a flexible staking contract;
- locking their $LEND, which gives them access to the income generated from early unlocks.
Be aware of penalty fees collected from users who unlock their tokens ahead of fixed time. The penalty goes straight to reward those who stay committed to Lendle long-term.
Lendle gains fees on the tokens that are available in their lending market, users will get their portion of the revenue in the form of these assets. When users claim the rewards, they receive a mix of BTC, ETH, USDC, USDT & MNT.
To learn more about managing your $LEND, visit the docs.
Is Lendle Safe?
Lendle V1 code has been audited by Sourcehat (Solidity Finance). The company was the auditor of the original code made by Geist in 2021, so it made a lot of sense to audit Lendle with their help.
Check the audit results here.
Lendle on Notum
Catch two strategies right on the Notum app to start your journey with Lendle. Use any token and start trading at any time.
Q & A Session
- Is Lendle a fork of another protocol? If yes, did you make changes to the main mechanics?
Lendle is a fork of Geist Finance. We were a fan of Geist’s sustainable flywheel when the 2020 DeFi Summer was plagued by yield farms with unsustainable high yields achieved through hyperinflation.
- Who are Lendle investors?
None. We are self-funded and are a recipient of an official Mantle Foundation grant.
- There are many lending protocols on Mantle. What does make Lendle unique?
Lendle is all about Real Yield, designed with a sustainable value capture and distribution model from day one. Enabled by our value capture token LEND, we reward long-term users (LEND stakers and lockers) with revenue shares paid in blue chip tokens at an APR of over 40%.
- Is that possible to make a recursive strategy (looping) with one click on Lendle?
Right now, looping strategies are enabled by our partners Circuit and Beefy. Users can find these strategies right here.
- How does Lendle allow users to earn Eigenlayer Points for supplying mETH?
This happens automatically as Lendle is indexed.
- What fees does Lendle take for lending and borrowing?
Lendle generates fees from borrowing fees, liquidation, and early exit penalties.
- What collateral tokens will Lendle support in the future? Would you add SolvBTC or any LRTs?
Absolutely. Mantle is about to launch the cmETH LRT and it will definitely be on Lendle. We are also actively working with our partners on enabling BTCFi on Mantle.
- What deflationary mechanics does $LEND have?
None.
- Will Lendle support other chains in the future?
No. Lendle is dedicated to being Mantle’s native lending protocol.
Final Thoughts
Built on the Mantle Network, Lendle will bring a new level of innovation to the world of decentralized finance. With a strong foundation backed by EigenDA technology, optimistic rollups, Mantle Ecosystem (prev. BitDAO), a thriving community, and the support of the Mantle Network team, Lendle is set to become a leading lending market, empowering users to unlock the full potential of DeFi.