EverLend, First Lending Protocol on Everscale Network, Kicks off Operations With Successful LEND Token Launch

EverLend.app is simply a secured lending protocol powered by Everscale. The level was successfully launched connected the 18th of March, 2022 unneurotic with its ain inferior token. The level facilitates DeFi lending by hosting backing pools with involvement rates based connected Everscale’s plus proviso and request algorithm.

EverLend.app is simply a protocol wherever users tin play the relation of provider, borrower, oregon both, and interact with each different wrong the protocol to gain oregon wage flexible involvement rates. At its core, it is simply a secured lending level that charges involvement connected the usage of funds. The level has been successful improvement for much than 6 months by the SVOI.dev team.

Conceptually, EverLend was modeled connected the market-leading Compound protocol. One of the goals successful creating the task was providing extremity users with a elemental and wide lending level that would beryllium comfy to use. At the aforesaid time, the improvement team, unneurotic with the advisory team, revised immoderate parameters of the archetypal exemplary (for example, the strategy information protocols) and finalized them for improvement. In addition, the implementation has been afloat adapted to the specifics of the Everscale blockchain.

The task was launched connected March 18, 2022 astatine 11 americium Korean clip (GMT+9).

It is important to enactment that a ceremonial verification process for the task is presently underway successful the format of an Everscale Contest. While contracts for the lending level person already been launched anterior to ceremonial verification connected the network, limits for those contracts person been acceptable connected amounts that volition gradually increase.

In conjunction with the authoritative level launch, the project’s creators person besides launched a inferior token, LEND, for the level via a motorboat pool connected EverStart. LEND volition supply users with the quality to enactment successful the platform’s governance, arsenic good arsenic incentivize liquidity providers and lenders.

All regulatory issues, arsenic good arsenic wide improvement decisions, volition beryllium determined by the community. EverLend.app volition beryllium a full-fledged DAO, successful which the owners of LEND tokens (in fact, the owners of the project) volition beryllium capable to enactment their level proposals up for the assemblage to ballot connected them, arsenic good arsenic instrumentality portion successful voting connected issues projected by others, including the constitution of definite indicators.

All participants volition beryllium capable to power the improvement of the task to 1 grade oregon another. What is unprofitable for the level volition beryllium unprofitable for the assemblage astatine large, including an outflow of users owed to the usage of non-market indicators. A akin mechanics has already been implemented connected different Everscale-based platforms, including the Octus Bridge platform.

The token launch for the LEND token successfully ended connected March 31, 2022.

The hard headdress of 2,500,000 EVER was surpassed, with the full magnitude of deposited EVER adding up to 3,060,285.84 EVER.

The LEND token was launched successful accordance with the EverStart format, thus, by depositing successful the token pool, users did not get a definite fig of tokens directly, but enactment their EVER successful the wide pool. The maximum imaginable worth of the LEND token is 5 EVER upon reaching the hard cap. Now that the token motorboat has been successfully completed, each tokens volition beryllium distributed among users successful proportionality to their shares successful the excavation and each collected funds successful excess of the hard headdress volition beryllium returned to users besides successful proportionality to amounts they deposited.

The token motorboat was the archetypal to instrumentality spot connected Everstart.io, Everscale’s marque caller token launching platform.

A abstracted leafage connected the tract has been dedicated to EverLend and has each the indispensable accusation connected the stages of token distribution, lockups, vesting and archetypal opportunities for token holders.

For archetypal token motorboat participants, the EverLend creators person developed commemorative NFTs that volition beryllium talented to each participant.

NFTs person been created successful 3 categories:

Platinum – volition beryllium distributed to the archetypal 10 participants

Gold – 11-60 participants

Silver – 61-155 (all the rest).

EverLend.app is presently the lone lending protocol successful the Everscale network. According to the creators of the project, the protocol aims to go 1 of the indispensable and astir utilized projects successful the ecosystem.

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