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About Lenfi
Key Points
- Lenfi is a decentralized lending and borrowing protocol built on the Cardano blockchain.
- Total token supply: 29,500,000 AADA.
- Circulating supply: 14,710,000.
- Founders: Rytis and Mantas Andriuska.
- Unique features: permissionless pool ownership, isolated pool market, NFT bonds, native asset lending and borrowing, and DAO governance.
- Available for trading on major Cardano decentralized exchanges like Minswap, WingRiders, SundaeSwap, and MuesliSwap.
Token Distribution
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About Lenfi
Lenfi is a decentralized lending protocol that empowers individuals to lend and borrow various cryptocurrencies in a trustless manner, thereby fostering a decentralized finance (DeFi) ecosystem.
Introducing Lenfi (LENFI): A Comprehensive Overview
Lenfi is a decentralized lending and borrowing protocol established on the Cardano blockchain, offering a dual-pronged approach to facilitate seamless transactions. On one hand, it provides a peer-to-peer lending and borrowing mechanism, which leverages innovative NFT bonds and supports native Cardano assets. On the other hand, the platform enables users to create and own decentralized, secure, and permissionless pools, featuring fixed interest rates for borrowers and attractive delegation rewards for suppliers participating in ADA pairs, in addition to interest yields.
The Circulating Supply of LENFI Tokens: A Closer Look
Lenfi’s total token supply is capped at 29,500,000 AADA. The circulating supply currently stands at 14,710,000. Notably, the protocol’s public launch allocation comprised 1,250,000 LENFI tokens, equivalent to 4.24% of the total supply, which were released on SundaeSwap at the DEX launch on January 29, 2022. An additional 1,250,000 LENFI tokens, also representing 4.24% of the total supply, were unlocked for participants in the Public Round sale on February 16, 2022. Furthermore, 18.64% of the supply was allocated to Private Round participants, with distribution commencing on March 10, 2022, and subject to a 9-month vesting schedule. Moreover, an additional 13.56% of the allocation was distributed every two weeks starting May 28, 2022, as a reward for ISPO participation. *As of 2024, all token vesting has been completed. The remaining allocations have been divided among three addresses, with the majority transferred to a dedicated DAO treasury wallet. *
The Visionaries Behind Lenfi: Meet the Founders
Lenfi, formerly known as Aada Finance, was founded in 2021 by Rytis and Mantas Andriuska. Mantas’ fascination with cryptocurrency began in 2016, sparked by the innovative potential of blockchain technology to facilitate trustless transactions. The DeFi phenomenon further piqued his interest, ultimately drawing him to Cardano. The vast, uncharted territory of blockchain technology captivated Mantas, inspiring him to explore its possibilities. Initially, Aada Finance aimed to create a Cardano-based equivalent of Aave. However, the project evolved, and Aada (an acronym derived from the surnames of the four founding members) developed a distinctive NFT bond interaction model. On June 28, 2023, the project underwent a rebranding, adopting the name Lenfi, and launched a new marketing campaign to introduce its upcoming V2 pooled lending protocol. Throughout its development, the core Lenfi team has been based in Kaunas, Lithuania.
Unveiling the Unparalleled Lenfi Advantage
Acquiring LENFI: A Comprehensive Guide
LENFI is now accessible for trading in tandem with ADA pairs on prominent Cardano-based decentralized exchanges, including Minswap, WingRiders, SundaeSwap, and MuesliSwap.
Decentralized Governance: Unfettered Pool Ownership
Lenfi revolutionizes the conventional concept of pooled lending by pioneering permissionless pool ownership. This innovative approach empowers any protocol user to establish a pool with a pair of Cardano native tokens of their preference. Upon pool creation, the protocol mints a unique Pool Manager NFT, which can subsequently be transferred or traded by the pool owner, effectively transforming each pool into a tradable asset.
A Segregated Trading Ecosystem: Isolated Pool Market
Lenfi V2 employs an innovative isolated pool market approach, where each pool operates independently, thereby bolstering protocol security by rendering each liquidity pool self-contained and autonomous. Furthermore, this approach significantly enhances the depth of chaining, resulting in increased protocol throughput and efficiency.
Introducing NFT Bonds: A Novel Investment Opportunity
Lenfi pioneers the innovative concept of NFT bonds, revolutionizing the lending landscape. By tokenizing loans into unique NFTs, borrowers are empowered to seamlessly transfer and trade their debt obligations. Upon loan origination, the protocol minted a distinct NFT, imbued with a bespoke policy. As each loan’s data is inextricably linked to its corresponding NFT bond, borrowers must retain ownership of the NFT to settle their outstanding debt.
Native Asset Lending and Borrowing: Unlocking Liquidity and Empowering Users
Unlike traditional lending and borrowing protocols, Lenfi pioneers native asset parameter customization. This innovative approach empowers borrowers to request one Cardano-native asset (CNT), utilize another as collateral, and settle interest payments with a third. Notably, the value of all assets is meticulously calculated in ADA, ensuring unparalleled accuracy when determining the loan’s Health Factor.
Decentralized Governance: Empowering Community-Driven Decision Making
One of the pivotal features that distinguish Lenfi is its decentralized autonomous organization (DAO). By virtue of holding LENFI tokens, participants are empowered to engage in the decision-making process, submitting and voting on diverse proposals. The on-chain governance model facilitates community-driven autonomy, enabling the collective to add or remove tokens, adjust transaction fee parameters, and more.