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Summary of zkLend
Key Points
- zkLend is an L2 money-market protocol built on StarkNet, combining zk-rollup scalability, superior transaction speed, and cost-savings with Ethereum’s security.
- Co-founded by Jane Ma and Brian Fu in February 2022.
- The protocol offers a dual solution: Artemis (permissionless) and Apollo (permissioned and compliance-focused).
- Users can lend assets to a reserve pool, earning interest-bearing zTokens, and borrow assets using zTokens as collateral.
- ZEND is the native utility token, which can be staked to receive stZEND, providing revenue share, boosted borrowing capacity, preferential rates, and governance.
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About zkLend: Unlocking the Power of Decentralized Lending
Introducing zkLend (ZEND): A Revolutionary DeFi Lending Protocol
zkLend is a cutting-edge, Layer 2 money-market protocol built atop StarkNet, harnessing the scalability and blistering transaction speeds of zk-rollup technology, while leveraging the unparalleled security of the Ethereum network, all while providing substantial cost savings.
The Visionaries Behind zkLend: Meet the Founders
zkLend was co-founded by Jane Ma and Brian Fu in February 2022.
Jane embarked on her professional journey in Sales and Trading at Credit Suisse, before transitioning to Deliveroo, where she assumed the role of Chief of Staff in Hong Kong. It was here that she developed a profound affinity for the dynamic, fast-paced startup environment and its vibrant work culture. Throughout her career, Jane has accumulated extensive expertise in scaling business operations for various startups, fostering growth and driving success.
Brian, on the other hand, boasts an impressive 15-year tenure in TradFi, having held esteemed positions in investment banking and private equity at prominent financial institutions, including Bloomberg, Standard Chartered Bank, Silk Road Finance, and China Merchants Capital. His foray into the realm of on-chain protocols and crypto was a profoundly enlightening experience. Having personally navigated the inefficiencies and pain points of TradFi infrastructure, he is eager to collaborate with visionaries and cutting-edge technology to bring about this novel financial paradigm.
The Foundation of a New Era: The Protocol
The protocol presents a dual-pronged solution, comprising Artemis and Apollo. Artemis is a permissionless service catering to DeFi users, expertly balancing decentralization with accessibility. Meanwhile, Apollo is a permissioned and compliance-focused solution, tailored to meet the specific needs of institutional clients.
Empowering Users: A Range of Capabilities
Lend: By depositing their assets into a reserve pool, users can provide liquidity to each money market, thereby earning interest-bearing zTokens that represent their share of the pool and a claim on the interest accrued. Over time, the total assets in the pool will appreciate as interest earned from borrowing is reinvested, with the interest rate dependent on the specific asset’s interest rate model. Notably, users can deposit any amount into the pool without being subject to a lock-up period.
Borrow: By leveraging their zTokens as collateral, users can access assets deposited in diverse money markets. The financing rate for each borrowed asset will be determined by an interest rate model, which takes into account market demand and the utilisation of liquidity pools. The maximum borrowing amount is capped by the user’s borrowing capacity. Should the total loan exceed this capacity, the position may be liquidated to safeguard the protocol’s longevity.
The Native Token of the Protocol
ZEND is the native utility token of the protocol. Upon staking of ZEND, users will receive an equivalent amount of stZEND (short for staked-ZEND), which will confer the following benefits: a share of revenue, enhanced borrowing capacity, preferential interest rates, and governance privileges.