The Lendefi Testnet Is Open!

Lendefi Protocol
Aug 2 · 3 min read

An insight into the testing process.

Lendefi is proud to announce that our testnet is now open to the public and enrolled testers can begin testing! This is an important milestone for the Lendefi protocol and represents our transition onto the final stretch towards mainnet launch.

We encourage our community to go and view Lendefi’s testnet here:

https://testnet.lendefi.finance/trade

The launch of Lendefi’s testnet will allow us to stress test the protocol and initiate our User Acceptance Testing. This will allow Lendefi to place the protocol under pressure and identify possible weaknesses within the codebase. Once the stress testing is complete, we will open a Bug Bounty to reward participants for identifying weaknesses that maybe have been missed during stress testing.

The User Acceptance Testing will allow Lendefi to gauge how well the protocol is accepted by users. This is important to ensure the greatest ease of use and make the protocol universally accessible.

Previously, we created a form for community members to register for the testing process and we’re pleased to see a strong response from within our community. Unfortunately, it will not be possible to allow every registrant to participate in the testnet testing. Lendefi will be contacting the first wave of testers shortly.

Testers will be supplied with test tokens for use during the testing process, along with feedback forms. The tokens to be utilized during testing do not hold value but represent the same utility as authentic digital assets.

Although there are a limited number of testers who will be given access to Lendefi’s testnet, we are expecting these testers to share their experiences and screenshots with the Lendefi community. This will ensure the wider community remains involved and can comment and provide input during the testing process.

The launch of Lendefi’s testnet moves the protocol into the penultimate stage before mainnet launch on the Binance Smart Chain. After the testnet, Lendefi will open our Bug Bounty and then launch onto the BSC mainnet.

The mainnet launch will deliver the Lendefi protocol to the wider DeFi market and allow leveraged trading for borrowers while providing lenders with the opportunity to earn interest on digital assets. We have previously covered the value proposition of leveraged trading in our article Lendefi: Leveraged Trading Through Undercollateralized Lending.

Lendefi believes our protocol brings opportunities to the DeFi sector during both bull and bear markets. The delivery of dynamic lending and borrowing for digital assets strengthens and enhances the DeFi sector.

The opening of Lendefi’s testnet represents a significant milestone for the Lendefi protocol. We are pleased to begin onboarding our first testers within the next 24 hours and are excited to see the feedback they will share with the Lendefi community.

This is going to be an exciting period for the Lendefi protocol. Stay tuned for updates!

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.