Introduction
Last updated
Last updated
is a decentralized reserve currency protocol built on the Network. The protocol is based on the Lendr token. Each Lendr token is backed by a basket of assets (Dai, Matic, Bitcoin and Ethereum) in the Lendr treasury, giving it an intrinsic value that cannot fall below a certain amount. Lendr also introduces economics' and gamifies staking and minting through daily and weekly quests, that in return yields Efflux points that can be used to craft limited edition NFT's.
Our goal is to provide a self dependent platform that gives everyone access to the basics in a decentralized environment all powered by smart contracts on the Polygon Network.
There are three main strategies for market participants: , and farming . Stakers stake their Lendr tokens in return for more Lendr tokens, while minters provide Dai, wEth, wBTC tokens in exchange for discounted Lendr tokens after a fixed vesting period. XP farming can be done by completing daily and weekly quests. Save up XP to buy NFT's.
The main benefit for stakers comes from supply growth. The protocol mints new Lendr tokens from the treasury, the majority of which are distributed to the stakers. Thus, the gain for stakers will come from their auto-compounding balances, though price exposure remains an important consideration. That is, if the increase in token balance outpaces the potential drop in price (due to inflation), stakers would make a profit.
The main benefit for minters comes from price consistency. Minters commit a capital upfront and are promised a fixed return at a set point in time; that return is given in Lendr tokens and thus the minter's profit would depend on Lendr price when the minted Lendr matures. Taking this into consideration, minters benefit from a rising or static price for the Lendr token!
The Lendr smart contracts are a fork of but they are running on the Polygon chain. Everything else is coded from scratch by our small team with a huge interest in web3. We aim to become a DAO where our community will decide future functionality, quests, NFT themes and everything else.
