Lendefi Community Update
19 May, 2021
Lendefi continues to make rapid progress towards the mainnet release of our protocol. We are pleased to provide this community update as part of our commitment to transparency.
Infrastructure
Ethereum Bridge
During the last week, the Binance Smart Chain network suffered congestion due to issues on the bridge and the associated fees. The Ethereum-to-BSC bridge has now been upgraded to support dynamic fees and avoid future transaction delays.
Domain
Lendefi is moving the public site of its protocol to the domain lendefi.finance. To achieve this, we are actively deprecating traffic to lendefi.io. Various servers and services have now been redirected over to lendefi.finance.
Protocol Development
User Interface Design
Work has begun on the community-voted branding of the web app into a wireframe design. Our plan is to share this with the community for feedback during the 4th week of May in a high-fidelity prototype.
Protocol
The protocol and smart contract interfaces have now been fully defined. We have identified several open-source contracts for use. This will ensure that we are using existing and audited code while accelerating our protocol development timeframe. The remaining contracts are being developed within a test-driven development process. These tests are currently being written, with code being added until the tests pass. Lendefi’s code, including the protocol interfaces, will soon be published to our GitHub repository. Our target is to start the audit for new smart contracts within the second week of June.
Web Interface
We have finished reviewing similar projects, to identify “best practices” for the acceleration of the protocol’s development. Work on the Solidity contracts has begun, Interfaces have been analyzed, and mockups are currently in progress to integrate into the user interface.
General
The sandboxes for our user interface and Solidity contracts have been created with all the necessary toolings, code validation, and automated quality checks etc. As code that implements the contract and UI is written, an automatic continuous integration process will be initiated to deploy those functionalities.
Since Blockchain Labs Asia have completed their research, analysis and planning, we have made considerable progress on the protocol and web application. Lendefi has now been able to define a development timeline, as well as appropriate milestones to reach our goals.
We know our community shares our excitement about the progress we are making and we look forward to sharing regular future updates! These updates will be made available to the community via a GitHub repository as well as our existing social media channels.
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.
