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EverLend.appThis is an approved secured lending protocol. Everscale. With its utility token, the platform launched successfully on 18 March 2022. The platform facilitates DeFi lending by hosting funding pools with interest rates based on Everscale’s asset supply and demand algorithm.
EverLend.appThis protocol allows users to play different roles, such as borrower or provider. Users can also interact within the protocol in order to either earn or pay flexible interest rates. It is an interest-based secured lending platform. This platform is in the development phase for over 6 months. SVOI.dev team.
EverLend is conceptually based on market-leading models Complementary protocol. The project’s goal was to provide end users with an easy-to-use lending platform. The advisory and development teams also reviewed some aspects of the initial model, such as the security protocols, and made improvements. The implementation was also fully adjusted to meet the requirements of the project. Everscale blockchain.
This project was officially launched at 11:00 AM Korean Time (GMT+9) on March 18, 2022.
Important to remember that the Everscale Contest is the current format for a formal verification of the project. Contracts for the lending platform were already launched before verification was completed on the network. However, there are limits on what amounts can be borrowed and how they can increase.
In conjunction with the official platform launch, the project’s creators have also launched a utility token, LENDFor the platform via a Launch PoolEverStart. LEND will provide users with the ability to participate in the platform’s governance, as well as incentivize liquidity providers and lenders.
Community members will determine all issues relating to regulatory matters and general decisions regarding development. EverLend.appThe DAO will include all the necessary features, and owners can use it to their advantage. LENDThe tokens will enable the owner of the project to submit their platform proposal for voting to the community. They can also vote on any other issues such as the setting up of indicator.
Participants will have the ability to impact the progress of the project in any way they wish. The platform’s unprofitability will also make it unprofitable to the wider community, which could include an outflow in users as a result of the non-market indicator use. Similar mechanisms have been used on Everscale-based platforms such as the Octus Bridge platform.
Launch of the tokenThe LEND token was successfully closed on March 31, 2022.
With the hard limit of 2,000,000 EVER being exceeded, the sum of all EVER deposits amounted to 3.060,285.84.
LEND token was created in accordance to EverStart’s format. By depositing in the token bank, users didn’t acquire any tokens but instead put their coins in the general pool. LEND tokens can only be worth 5 Ever after reaching the hard limit. Once the token launch is complete, users will receive tokens in proportion of their pool shares. Any funds that exceed the hard cap are returned to them in proportion to what they deposit.
This was the token launch. Everstart.io, Everscale’s brand new token launching platform.
EverLend has its own page that provides all information about the various stages of token distribution and lockups. It also includes vesting, initial opportunities and details for token holders.
EverLend has created commemorative NFTs to be presented to participants of the token launch.
Three types of NFTs were created:
Platinum – will be distributed to the first 10 participants
All things gold – 11-60 participants
Silver – 61-155 (all the rest).
EverLend.app currently serves as the sole lending platform in the Everscale network. According to its creators, EverLend.app aims at becoming one of most essential and popular projects in the ecosystem.
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