Lendefi
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Lendefi

Community Update

July 14, 2021

In Lendefi’s latest community update, we are pleased to provide our community with the latest information relating to Lendefi’s updated development milestones. In this update, we cover information pertaining to our testnet deployment, infrastructure and web interface.

Testnet Deployment

Since Lendefi’s community update last week on July 7th, our testnet protocol on the Binance Smart Chain testnet has been optimized to address the issues caused by PancakeSwap’s (trade contract) stack only being partially deployed on the Binance Smart Chain testnet.

During the optimization process, integration issues were encountered due to the unofficial PancakeSwap testnet not utilizing real tokens. These tokens include USDT, BUSD, and DAI whose prices aren’t tracked by ChainLink.

These issues have been surmounted and Lendefi’s testnet web interface now allows investors to contribute to Lending Pools and borrowers to perform collateralized trades. The testnet protocol now facilitates the generation of fees for users and interest payments for lenders.

The recommendations identified during Lendefi’s audit are currently being processed, and the protocol is being upgraded accordingly.

Web Interface

After additional testing identified some minor optimization issues, Lendefi’s web interface is almost finalized. These final issues are now being corrected before the web interface is fully operational.

Lendefi is pleased to provide our community with new light and dark screenshots of Lendefi’s web interface:

Lendefi Web Interface: Light Version
Lendefi Web Interface: Dark Version

Infrastructure

The REST API has been modified to work around the issues encountered during the testnet implementation. Additional improvements are being incorporated within the next two days, in preparation for Lendefi’s mainnet launch.

Mainnet Launch

Although a firm date for Lendefi’s mainnet launch is yet to be fixed, Lendefi’s management is working closely with our developers, Blockchain Labs Asia to expedite the final stages of development. The delays are beyond the control of Lendefi’s management but we are pleased with the pace of ongoing development. We are confident that a firm timeline can be released to the public soon.

We thank Lendefi’s community for their continued support and provide our firm assurance that we are fully focused on addressing the final steps for mainnet launch.

The Lendefi protocol will deliver leveraged trading and secured lending for cryptocurrency markets. Utilizing an undercollateralized loan model, Lendefi facilitates a trustless relationship between lender and borrower, managed by the protocol to remove counterparty risk.

For further information please join our global Telegram group, visit our website, join our Twitter feed or inspect our Gitbook documentation.

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