Lendle has completed their launch today by finalizing the Launchpad and creating the LP at Fusion X. Through this article we aim to provide some vital information for our new $LEND holders.
Almost 380K in WMNT was committed which, at the time of completion, totalled to $170k in USD. We’ve used ALL of the proceeds on the launchpad for creating the LP and providing liquidity on Fusion X. With over $300K of liquidity seeded, we’ve exceeded our own expectations.
While we work on updating the docs with the new information, these are some of the proofs and information most vital to our investors and $LEND holders.
Lendle Multisig holding the LP:
$LEND contract address: https://explorer.mantle.xyz/token/0x25356aeca4210eF7553140edb9b8026089E49396/token-transfers
$LEND Token info
Lendle uses a revenue share model to incentivize locking and or staking the $LEND token as can be seen below. Staking will earn you protocol fees, taken from those who borrow assets on the lending market. This means you can farm BTC/ETH/USDT/USDC and MNT by staking $LEND.
If you lock your $LEND you will also get the penalty fees, these fees come from people who claim their $LEND rewards early and incur a 50% fee.
From all the fees generated, 95% is returned to the community.
- 50% of the platform fees are provided to people providing liquidity (Deposit APY).
- 40% of the platform fees goes towards those that are either vesting or have staked/locked their $LEND.
- 5% is collected by a reserve, only to be used for the protocol.
- 5% is sent to the dev wallet, which will be used to keep the platform running (Ops. Costs)
While we can’t give financial advise, the token model is designed to heavily incentivize the locking of $LEND. If you want to learn more about this model you should start reading the Lendle token info in our docs over here: https://docs.lendle.xyz/project-info/lendle-token
We have had a pre-mine period for some weeks, where liquidity providers and lenders could already mine $LEND before we completed the Launchpad. Around 15:00 UTC today we will be ending the pre-mine event by enabling the claim buttons. From this moment people will be able to claim their rewards and start vesting their pre-mined rewards for a 3-month period.
note: vesting your $LEND rewards receive protocol revenue just like staked $LEND
With the pre-mine period comming to an end and a builders grant from Mantle on our way, the devs will continue their work on the V2 application, as laid out in our Roadmap and Mission Statement here: https://docs.lendle.xyz/miscellaneous/mission-statement
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