Community Update

28 July, 2021

Lendefi Protocol
Jul 28, 2021 · 3 min read

The Lendefi team has been diligently working to expedite the release of our testnet for public use. To deliver a more robust and secure protocol, the current infrastructure is being enhanced in preparation for the public testnet opening next week.

In this update, we discuss the registration for testnet users and possible tokens to be included in the testnet. We also provide two new screenshots of the Lendefi testnet at the end of the update.

We have been working very hard to bring the Lendefi testnet to the public and are on the threshold of making this a reality. The Lendefi team, in conjunction with our developers Blockchain Labs Asia have now finished the internal testing and bug fixes for our protocol.

There is one final step to undertake before we can release Lendefi’s testnet to public volunteers. Since the completion of the protocol’s internal testing, we are in the process of moving the infrastructure into a new environment for public utilization. Once this is complete, we can open Lendefi’s testnet for volunteer testing.

To participate in the volunteer testing of Lendefi’s testnet, users can register here. Testing will be undertaken using test versions of real coins. These coins do not hold any value, but function in the same manner as real coins. This facilitates User Acceptance Testing and demonstrates the opportunities for leveraged trading and lending within the protocol. We will open the testnet to the public next week.

In the following week, Lendefi will also be holding a community poll to gauge the sentiment on which coins to include in Lendefi’s testnet. Some of the options being discussed are BNB, ETH, BUSD, USDT, DOGE, CAKE and LTC amongst others. These coins will be subject to change before the mainnet launch. The coins available on Lendefi’s mainnet will eventually be decided upon through the voting of token holders, once Lendefi transitions into its DAO.

After Lendefi’s testenet is released to the public next week, we will be working with the community to gather feedback during the User Acceptance Testing. Following that, we will hold our Bug Bounty as a prelude to Lendefi’s launch onto the Binance Smart Chain mainnet.

We are pleased to share two new screenshots of Lendefi’s protocol. One from the Lending side and the other from the Trading side of the protocol.

Trading

Lending

We are very close to achieving the major milestone of our testnet release. It’s been a challenge to bring this project to fruition but we are confident in the product we have created.

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.

Lendefi

Leveraged trading via secured undercollateralized loans.

Lendefi

Lendefi’s innovative protocol delivers leveraged trading via secured undercollateralized loans.