Introduction of $LEND
Hello everyone, welcome to my new interesting topic…
I am here to inform you all by writing a review to introduce a very unique new project LEND_finance so for that, consider the article below to get an overview of this project and how it is going to happen. Provide a very good and attractive offer for all. Immediately, we continue the discussion below
LEND is a decentralized lending protocol that allows individuals and protocols to access financial services. The protocol is completely permissionless, transparent, and totally non-custodial. LEND is the first lending protocol on BNB Chain, Ethereum and Polygon to share revenue fees generated by the platform directly back to token holders.
LEND establishes pools of algorithmically derived interest rate model, based on current supply and demand of each respective asset. Users can use LEND to lend any supported assets on our markets for others to borrow and earn interest, and also use the provided capital as collateral to borrow another supported asset. LEND opens up the possibility of lending and borrowing crypto assets.
supported assets include BTC, ETH, BNB, USDT, DOT, LTC, renBTC, sETH, SNX, AAVE, COMPOUND and NFTs.
Key features of Lend platforms:
-Lowest Interest Rates in the industry
-Aave's Flash Loan support
-NFT (Non-Fungible Token) support
-DEX liquidity support from Uniswap
How it works:
The flashed loan is an instant loan that you take out and then pay back immediately when your transaction goes through. This can be helpful if you need some extra money to complete a trade or if you want to quickly buy something before it sells out.
In order to take out a flash loan, you first need to have collateral in one of the following forms: BTU ( pegged 1:1 with BTC), ETH, BNB or USDT. You also need to have a certain amount of AAVE tokens as collateral so that you can take out the loan. The more AAVE you have deposited, the more you can borrow. After you have your collateral ready, you can go ahead and take out a flash loan by clicking on the "Lend" button on the Aave dashboard.
You will then need to specify how much you want to borrow and in what form (e.g., BTC). Once you have specified these things, click on the "Borrow" button and your loan will be funded immediately. All that's left to do now is repay the loan plus interest when your transaction goes through!
If you are unable to repay the loan plus interest within the specified time frame, your collateral will be liquidated and you will lose your AAVE deposit. Therefore, it is important to only take out a flash loan if you are confident that you will be able to repay it within the specified time frame! Pros: -You can get access to quick capital when you need it -No credit check required -Can be used for speculative purposes Cons: -High interest rates -You could lose your collateral if you can't repay the loan plus interest -May not be available in all jurisdictions Interested in taking out a flash loan? Click here to learn more about Aave's Flash Loans!
So there we have it! That's everything you need to know about LEND platform in order for individuals and protocols access financial services! Be sure to check out our website for more information about our other products and services! Thanks for reading!
For More Information:
Website: https://www.lend.finance/
Whitepaper: http://lend.gitbook.io/
Telegram: http://t.me/lendfinance
Twitter: http://twitter.com/lend_finance
Github: https://github.com/tenfinance
Medium: https://medium.com/lendfinance
Bitcointalk Username: CryptoboyRamesh
Bitcointalk Profile Link: https://bitcointalk.org/index.php?action=profile;u=2749610
BSC Wallet Address: 0xaCB71A1c5af4160C082F3786fd6bbD5A9b7FABDA
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