SINGAPORE, Aug. 02, 2022 (GLOBE NEWSWIRE) — TEN Finance is proud to announce that LEND and the $LEND token will first be accessible on the Dice Community. LEND is the latest extension of the TEN Finance Ecosystem and can be a groundbreaking launch that sees TEN increasing horizons and being accessible on different chains. LEND can be a landmark launch and the primary native TEN product to launch on one other chain. LEND is supported and backed by the CUBE Community ecosystem incubation companion Huobi Incubator as a key lending protocol on the Dice Community.
The primary aim of TEN Finance is to simplify the DeFi panorama to extend consumer adoption by making it accessible for customers of all technical talents and subsequently deliver decentralized finance (DeFi) to the plenty. LEND is the latest addition to the revolutionary merchandise being supplied by TEN.
Lending and borrowing protocols have been a cornerstone throughout the DeFi panorama. These merchandise have given DeFi some actual substantial use instances as this implies customers have the power to lend and borrow belongings with out the necessity of an middleman or centralized occasion. Nevertheless, one factor folks seen is that always these platforms are behind difficult UI that is not simply understood by most market members. In step with TEN Finance’s core values, LEND by TEN will give attention to innovating these cornerstone DeFi merchandise while ensuring they’re utterly accessible for all customers of all technical capability.
LEND, is a multi chain lending platform. Customers can deposit their crypto belongings and earn curiosity, or use them as collateral to borrow tokens. LEND will set up swimming pools of algorithmically derived and aggressive rate of interest fashions, based mostly on present provide and demand of every respective asset. Suppliers and Debtors of belongings work together straight with the protocol in incomes and paying a floating rate of interest. That is all achieved with out the necessity to negotiate phrases of maturity, rate of interest or collateral with any peer or counterparty!
- Lending & Borrowing
- Governance Protocol
- First protocol to present income to Token holders
LEND by TEN Finance will first be accessible on Dice Chain and BNB Chain however has plans to shortly broaden to Avalanche, Cronos and Ethereum amongst different EVM appropriate chains.
How does LEND work
All belongings supported for provide on the LEND protocol by TEN Finance are built-in via a tToken contract. This represents the stability of the equipped token to the LEND protocol by the consumer. By means of the minting of tTokens within the LEND markets, customers are in a position to earn curiosity via the tToken’s trade charge, which will increase in worth over time relative to the underlying asset and in addition offers the consumer the power to make use of tTokens as collateral.
TEN Finance is designing this ecosystem to stay round within the DeFi house by supporting the customers, and one of many main methods TEN Finance is doing that’s providing $LEND as an incentive reward to customers of the protocol.
$LEND tokens would be the native token for the LEND protocol by TEN. Throughout the token construction the token will give holders governance and voting rights in essential selections for shaping the way forward for the platform. It would not finish there although! $LEND tokens are additionally the important thing to incomes passive revenue from the protocol. As soon as the token has launched, holders can provide $LEND to the protocol in trade for $tLEND which truly makes them eligible to earn a big portion of the whole income generated by the protocol.
$tLEND tokens can then even be staked or locked by customers to earn extra Platform Reward Charges based mostly on a 90-day vesting schedule. Locking tokens for the complete 90-day time period means an elevated share of protocol income can be acquired.
Though there are quite a few lending protocols in the marketplace, the workforce feels there are only a few that provide actual worth to the vast majority of customers. Particularly, within the capability to earn passive revenue straight from the protocol. The LEND protocol addresses this by being the primary LENDING protocol to share platform income straight again to $LEND token holders on Dice Chain & BNB Chain.
With help from the CUBE Community ecosystem incubation companion Huobi Incubator, LEND is destined to make waves within the DeFi ecosystem
Model: TEN Finance
Electronic mail: firstname.lastname@example.org
Web site: https://lend.finance
SOURCE: TEN Finance