2022-10-01 15:15:25
EverLend: updates on development progress and first LEND token unlockEverLend is a DeFi platform and Everscale-based money market protocol with a native LEND token. The platform’s users act as providers, borrowers, or both, earning or paying a flexible interest rate. The protocol is developed by the Blockchain Family team with support from Broxus and Warp Capital. The team of SVOI.dev is responsible for business development.
EverLend will only work with TIP-3 traded tokens, with no issuance of its cTokens. Pledged tokens will not earn dividends, nor will these tokens increase the volume available for borrowing. In addition, several different tokens can be lent against a single token, with each token having mutually exclusive roles as borrower and liquidity provider.
Currently, the custom features and TWAP oracle for FlatQube are ready, while the liquidation feature is in development.
The tech release of contracts in the mainnet with test tokens, the start of the active testing phase, and the development of the front end and liquidator bot are scheduled for mid-October. The protocol launch is scheduled for December.
The first token unlock will take place at 5:00 p.m. GMT on October 1, 2022 and will amount to 25% #SVOI #Everlend #LEND #EVER
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