Molend, the next-generation lending protocol, launches on the Ethereum Layer 2 blockchain Mode. Users can now engage in collateralized lending and borrowing using Molend. Mode is the DeFi L2 designed for growth, incentivizing and directly rewarding developers, users, and protocols to foster the development of the Mode and superchain ecosystem.
Traditional Lending vs Decentralized Lending
Traditional bank lending services are known for their complex and lengthy processes, causing inconvenience for borrowers. Decentralized lending protocols, on the other hand, offer fast loan disbursements and high security, gaining increasing popularity and occupying a significant share in the DeFi space. In simple terms, users can borrow other digital assets by collateralizing their existing digital assets and engage in various profit-generating activities. This includes taking long or short positions on assets through lending, participating in DeFi farming to generate yields, or simply earning interest on deposited assets.
Empowering Users with Molend’s Flash Loans and Loop Feature
Molend provides two primary functions: depositing and borrowing. By placing funds into Molend, depositors can earn interest from the borrowing activities of others. Flash loan, a distinctive feature of Molend, allows borrowing & repaying from the liquidity pool in a single transaction, eliminating the need for collaterals when a borrower can repay the loan atomically. Users incur only a minimal processing fee in addition to the standard gas fee, making it an efficient option for quick financial transactions. Flash Loans are particularly useful for arbitrage, enabling users to profit from price discrepancies across different protocols and liquidation opportunities.
Furthermore, Molend will be introducing the Loop feature in the near future to simplify the process of leveraging and borrowing assets for users. The Loop feature enables users to lend and borrow the same type of asset multiple times with a single click. More details about this feature will be revealed soon.
Note: Molend will use a point system to track users' deposits/borrowings, and allocate airdrop rewards based on the number of points.
As a highly anticipated flagship product, Molend has many advantages. Molend has high composability and can be integrated into other platforms for use. In terms of user experience, Molend provides a user-friendly data dashboard, allowing users to accurately assess profit trends and execute investment strategies. Flash Loans provide efficient investment tools for advanced users, while most of the fees generated are directly subsidized to users who have. The team behind Molend has extensive experience and a strong technical background in the cryptocurrency industry, enabling them to identify and address user pain points accurately.
Earn Rewardsfor Being an Early User on Molend
MODE has a mainnet airdrop campaign for early users and a point system dedicated to it. Molend will be a close partner of the campaign, meaning Molend users will earn more MODE points by using Molend.
Moreover, Molend is also allocating 10% of its governance token, $MLD, to early users through airdrops. As a holder of $MLD, you have governance rights over the protocol AND receive protocol revenue sharing. 50% of the loan interest generated across the protocol will be directed to $MLD holders, enabling $MLD tokens with strong value capture capabilities.
Our point system tracks your deposits and borrowings, allowing us to allocate airdrop rewards based on the points you accumulate. The more you engage with Molend, the more rewards you can earn!
In the future, Molend will explore additional gameplay and features while partnering with more blockchain networks and ecosystems. Stay tuned for updates!
About Molend
Molend is the next-generation lending protocol built on the Ethereum Layer 2 blockchain, Mode Network. Depositors earn passive income by providing liquidity, while borrowers access assets through over-collateralization. Powered by Mode, Molend ensures secure lending with transparent governance. Join Molend to be part of the decentralized lending revolution and unlock a world of possibilities in the Mode and Superchain ecosystem.
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