We are proud to officially make public our roadmap, which outlines Lendefi’s journey ahead.
Lendefi was ideated in an effort to solve the overcollateralization problem with the defi protocols of the time. It was an answer to a simple question — “Why can’t people borrow loans to invest in crypto like they can do for other assets like real estate, cars and even stocks?”.
Initial fundraising was raised to start work on a permissionless and decentralized protocol that enables anyone to borrow undercollateralized loans to invest in crypto assets.
Initial contract prototyping
The work on the architecture and initial contract prototyping begins, the team was aligned and timelines were set for the completion of the protocol.
]The fundraising rounds were completed from multiple value investors and the presale was conducted on the FalconPool platform.
Token launch and initial liquidity provisioning
The token was launched with initial liquidity provisioning done on Uniswap AMM pool.
Ecosystem partners onboarding
Ecosystem partners include wallets, on ramp providers, defi aggregators, information providers etc.
Marketing outreach program
Marketing outreach programs will be for global expansion and community building exercises. These will include but will not be limited to conferences, ambassador programs, influencer outreach, competitions and other community building activities both online and offline.
Alpha launch will include all crucial components of the protocol minus the bells and whistles. The alpha version will be tested to iron out any bugs or to identify the scope of improvement in the protocol.
The bug bounty campaign will be held with generous rewards to the community in identifying protocol improvements and bugs.
Beta launch will include all production ready platforms which includes the all features of the Lendefi protocol. The stringent testing of all use cases will be performed to ensure maximum optimization prior to the main launch.
Bug Bounty Cont.
The bug bounty program will continue after the beta launch and will help with further improvements with the protocol after the launch of the beta version.
3rd party integrations begin
The third party integrations will commence after the alpha launch. These third parties will include wallet apps, information providers and aggregators.
Liquidity Mining Program and Rewards
Liquidity mining will be launched around the mainnet launch to bootstrap liquidity and reward initial protocol users for adoption. This program also intends to give the governance tokens to the actual users to include them in the decision making process of the protocol.
Fiat On ramp/off ramp integrations
Fiat on ramp/off ramp partners will allow fast and easy ways to bring new users to the platform who are seeking to earn lucrative interest on the platform. Integrations with such platforms will make the experience more seamless.
Lendefi will work with and engage reputed smart contract audit companies for the complete audit of the protocol before the mainnet launch. We will ensure that the security will be kept at the highest priority where users’ funds are involved.
The Lendefi protocol will be launched near the end of the second quarter once all facets of the protocol have been tested and passed the auditing. From this point, Lendefi and its main feature of undercollateralized loans will be available for the community..
The governance will launch to engage community & token holders and involve them in the governance of the protocol. The governance will allow voting proposals on inclusion/removal of assets, inclusion/removal of changing collateralization ratios, updating liquidation requirements, proposing new changes and improvements to the protocol.
Protocol deployment on additional chains
Further developing the Lendefi protocol to be compatible with other blockchains based on the community feedback and demand for expansion of the token on other chains such as Huobi Chain, Binance Smart Chain, EOS, just to name a few. The protocol will implement Polkadot and leverage the benefits of interoperability during the expansion phase.
Lendefi will commence work on the scaling efforts for the growth and adoption of the protocol. Some of the factors that will be considered in the selection of the scaling solution will include security, liquidity, ease of migration of tokens and others factors that will support the ease of use of protocol.
Multi token lending
The protocol will be extended to support multiple tokens as acceptable lending tokens. The protocol will move from fiat only to multi token support for acceptable collaterals. The collateralization ratios may vary when borrowing other assets which will be adjusted based on the risk assessment done by the team and passing the appropriate proposals in the governance DAO.
Lendefi will set up a research unit to research and explore the areas of further growth and development of the protocol. This will include both in house research or collaborative efforts with other organizations/individuals who are working in this area. Sufficient budget will be set aside for this initiative.
Integrating in-built insurance
We will commence development efforts to implement built-in insurance. Although a part of the fees already collected in the protocol will be set aside as an insurance fund. Further development in this space will allow the growth of the insurance fund for the long term operations of the protocol.
ETH 2.0 staking function
ETH 2.0 staking will be integrated within the protocol to allow the maximization of returns for the assets bought through the Lendefi protocol. These returns will help further maximise the returns for both lenders and borrowers and make the use of the protocol more lucrative.
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.