Meet the $LEND token — The key to earning cross-chain LEND protocol revenue!
👋 Hey Future Lenders!
Today we’re pleased to release the LEND token guide. What are LEND tokens? How can you get them? What are they used for? This thorough guide, created by the LEND team, is here to help you find simple answers to all of these important questions!
Keep reading to find out how LEND is coming to revolutionize the DeFi space…
What are LEND tokens?
LEND are native BEP20 tokens soon to be launched on the Binance Chain network. They are a major component of the LEND ecosystem and the key to earning a share of ALL of our cross-chain revenue!
The main function of the token is to incentivize users providing liquidity to the LEND platform but this token also creates many fantastic opportunities for our users. Let’s briefly explore some of the LEND use cases:
- Supply LEND to earn additional bonus LEND
- Stake LEND to earn a share of platform revenue
- Lock LEND to maximise bonus revenue from penalty fees
- Vote on proposals relating to the LEND ecosystem
💲LEND Price:
The starting public price for LEND tokens is $0.07 for 1 LEND during the public sale. Users that participate in our private sale will benefit from a reduced price of $0.03!
🚨Get Whitelisted for LEND:
If you’re looking to get involved with the private sale you’ll need to be whitelisted, so make sure you have registered by March 06!
✅ Complete all tasks by 👉 clicking here 👈 to get whitelisted.
⚙️ Token details:
Ticker: LEND
Network: BNB Chain (BEP-20), ETH & Polygon
Max supply: 1,000,000,000 LEND
Initial Supply: 14,250,000 LEND Available at the genesis event (TGE) so all of our users can start earning protocol revenue from launch!
Out of these 1,000,000,000 tokens, 14,250,000 LEND will be allocated for the initial supply. This is done to make sure our users can make exchanges and experience all the features of the platform from the very beginning. See how other allocations are distributed below…
📊LEND Allocations:
Seed Round: 12%
Private Round: 7.5%
Public Sale: 0.5%
Lender & Borrower Rewards: 40%
Airdrops: 10%
Collaborator Incentives: 7.5%
LEND Finance Dev: 7.5%
📚 To see the vesting schedules of these allocations view the tokenomics page on the official LEND gitbook 👉 HERE! 👈
📖 How to get $LEND tokens:
You can earn LEND as a bonus for supplying assets, borrowing from the LEND markets and even as a bonus reward for supplying your LEND tokens back to the protocol.
Once launched, LEND will also be available to buy/swap directly from a range of DEXs & Potential CEXs.
👉 Anyone who lends, or borrows crypto assets on our protocol will receive LEND tokens 🤩
🎁 The LEND community will also get many fantastic opportunities to win tokens by taking part in vibrant social events.
❓ What are $LEND tokens needed for?
Many of our loyal community members know LEND has been in development for almost a year, and we’re aiming to build an ecosystem that remains for many more. One of the reasons we believe we’ll be around for more successful is our strong desire to only create ecosystems that provide real value to our users. LEND tokens are the key to unlocking the most value from your crypto let’s discuss how LEND can be on our protocol.
LEND tokens will be the native token for the LEND protocol. Within the token structure, the token will give holders governance and voting rights in important decisions for shaping the future of the platform. It doesn’t end there though…
💰 LEND tokens earn for you! 🔥
The main purpose of the LEND token is to create ‘real yield’ by rewarding users with 25% of all revenue generated by the protocol. This is a share of the TOTAL revenue earned from every current AND future chain the LEND platform launches on.
Once the token has launched, holders can supply LEND to the protocol in exchange for tLEND which can be staked or locked to claim 25% of protocol revenue. We think this could change the DeFi space!
To put it into perspective:
Compound (A similar DeFi protocol to LEND but not cross-chain) has generated over $50m of revenue, but shared 0% of that to the native token holders.
👉 If LEND generated $50m in hypothetical revenue, 25% would be shared directly between LEND token stakers & lockers. Quite the reward for holding LEND.
🗳 LEND Protocol Governance:
The other most interesting property of the LEND tokens is the ability to participate in protocol governance. As the protocol matures there will be plenty of opportunities to vote on user submitted proposals to shape the direction of development.
📚 You can read more about protocol governance, view the tokenomics page on the official LEND gitbook 👉 HERE! 👈
📖 How you can use LEND tokens to earn:
To become eligible to earn protocol revenue users have to supply LEND tokens to the protocol and receive tLEND. Once received this can be staked or locked to earn protocol revenue.
tLEND is simply LEND that has been supplied to the protocol. Users will receive an equal amount of tTokens for the underlying token being supplied to the market which is divided by the current exchange rate.
📚You can learn more about tTokens 👉 here! 👈
💸 Staking / Locking tLEND tokens:
To start earning protocol revenue, users will need to visit the vesting section of the LEND platform. From here users tLEND tokens can be staked or locked to earn additional Platform Reward Fees in $BUSD- subject to a 90-day vesting unlock.
Staking means you have the flexibility to retrieve (or unstake) your assets at any given point in time, even if the vesting schedule has not yet been completed. This will however, mean that the remaining platform rewards still vesting get forfeit to the lockers.
If you’re staking tLEND, exiting early will mean you’re subject to a penalty of your share of the platform revenue that could’ve been earned. These penalties are disbursed to users that have locked their tLEND tokens. The penalty is based on a vesting schedule, see below:
- 0–30 Days — 50% Reward Given -> 50% Forfeit
- 31–60 Days — 65% Reward Given -> 35% Forfeit
- 61–90 Days — 75% Reward Given -> 25% Forfeit
ℹ️ Important to remember, the penalty is only taken from the potential rewards, you won’t lose any of the originally supplied LEND tokens*
🔒 Locking LEND tokens
LEND users can also opt to lock their tLEND tokens for a fixed three (3) month period. Users choosing to lock tLEND will be eligible to receive Platform Fee Rewards plus the Penalty Fee Rewards taken from stakers who opt to unlock their assets early in (BUSD).
Locking tLEND is very similar to staking with a few key differences, see below:
- Locked tLEND is subject to a mandatory three (3) months lock, and cannot be unlocked early
- Lockers will receive the same base rewards from platform fees as Stakers
- Lockers will also earn the Penalty Fee Rewards taken from users who unstake their tLEND tokens before their 3 months Vesting period is complete
✅ Conclusion:
As you can see, the LEND token creates many opportunities for creating additional streams of revenue to gain profit! All of these utilities can be used by LEND ecosystem users to increase their DeFi yields by claiming passive real yield from the revenue we collect. As the LEND ecosystem matures and develops, many new opportunities will arise for LEND token holders to enjoy and shape the future of the protocol.
LEND Finance is coming to revolutionize DeFi and aiming to create the perfect DeFi ecosystem of real value that you’ll never want to leave!
❤️ Thanks for Reading!
We hope this guide serves as an important introduction to the LEND ecosystem and each reader understands the fantastic capabilities of LEND tokens. We will continue the #LearnToLEND series to make sure everyone, from DeFi experts, to Crypto noobs can understand LEND and start to #LENDtoEarn.
📚 Continue learning about LEND:
https://lend.gitbook.io/home/
📖 Discover how the LEND platform could potentially unify the $50 billion DeFi market: https://bit.ly/3YxR4nl
As we continue to prepare the protocol for launch make sure you’re following all LEND Finance social channels to be the first to hear news, updates and fantastic opportunities in our pre-launch event.🤝
✅ Follow the Official LEND Socials:
🌐 Website | 💬 Telegram | 📃 Medium | 🐦 Twitter | 📢 News Channel
