Lendefi Pilot DAO now Live

Lendefi Protocol
Nov 16 · 2 min read

We are happy to announce that today we deployed the Lendefi Pilot DAO on Binance Smart Chain Mainnet via the cutting edge DAO technology platform, xDAO v2.

The DAO can be publicly viewed directly on xDAO v2 via the following link:

https://www.xdao.app/56/dao/0xFD62896e88a5Da93eCC987cb0bE2501722886863

What Is DAO?

The term DAO stands for “decentralized autonomous organization” and can be described as an open-source blockchain protocol governed by a set of rules, created by its elected members, that autonomously execute certain actions without the need for intermediaries.

DAO Functions

Token holders of the Lendefi organization created on the xDAO v2 platform are able to determine the process for accepting new members to their DAO, manage the organization’s finances, establish rules for the issuance and sale of governance tokens, and much more. With xDAO v2, Lendefi has the ability to manage a wallet of cryptocurrencies and to make joint decisions about their usage.

DAO Deployment

The deployment process was made simple by usage of the xDAO v2 user interface, which allowed Lendefi to simply name the DAO, token ticker and add participant wallet addresses before clicking deploy and approving transaction using Metamask.

The Lendefi Piot DAO is now able to vote on proposals in a number of key areas including interacting with other smart contracts. Via the xDAO v2 supported WalletConnect function the DAO can interact with a smart contract via BSC Scan, which in the future (post-Pilot) can be used to modify protocol settings such as interest rates and supported assets in the Lendefi Protocol

Other use cases include holding of digital assets which can be used for purposes such as marketing and development. This is key to empower the DAO to conduct real world activities without the need of a central party.

Join the DAO?

LDFI token holders will have the opportunity to submit a Participation Consideration Form to the Lendefi Pilot DAO group for their approval.

https://forms.gle/1gubH3VavHKccKkA9

We accept the Pilot DAO to grow and mature in the coming weeks and months, an exciting time for the greater Lendefi community.

The Lendefi protocol will deliver leveraged trading and secured lending to cryptocurrency markets. Utilizing an undercollateralized loan model, Lendefi facilitates a trustless relationship between lenders and borrowers, 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.