Sydney, Australia, Dec. 15, 2022 (GLOBE NEWSWIRE) — Lenen tesnet has officially launched on November 30th. It is the first decentralized, transparent and non-custodial liquid asset lending protocol under the Vision Chain Metaverse ecosystem.
Referring to other testnets, there is a very high possibility that they will also airdrop tokens to early supporters. This milestone marks a major achievement in the Vision roadmap — to meet the borrowing needs of Metaverse residents, to provide users with a more efficient and innovative digital product!
As we all know, in the public chain system, especially the public chain DeFi ecosystem, the lending protocol plays an important role as the underlying cornerstone, providing financial support for the growth and development of many DeFi derivative tracks including DEX, interest rate protocol, options, etc. Thus becoming an indispensable leading component.
Lenen protocol uses USDT as the underlying asset, and users can participate as lenders or borrowers in the isolated lending pool. Through the underlying support of Vision Chain, Lenen optimizes and improves the protocols and mechanisms of blockchain technology at all levels. The unique pool mortgage rate setting model and risk control system allow users to borrow more tokens with fewer liquidation risks and lower liquidation penalties, it can also effectively provide multi-chain liquidity release for users holding various long-tail asset Tokens, expand income exposure, and realize value transmission at all levels of the lending network.
As the first decentralized lending protocol in the Vision ecosystem, Lenen integrates functions such as liquidity mining, lending, stake and governance, focusing on the incremental market of the Vision Chain DeFi ecosystem, and has launched Vtimes Wallet, VisionScan, and Vision Bridge, Vanswap and the upcoming Vision NFT marketplace will jointly build the underlying supporting facilities of the Vision Metaverse, providing sufficient and complete support for scenarios such as Metaverse business and Metaverse life.
According to the project roadmap, the Lenen lending platform is divided into four phases. In the first stage of the test network, users will be encouraged to participate in the test through airdrop incentives, the test network tutorial has been published now. After the test net is successfully launched, the IDO stage will be launched to inject value into the ecosystem, so that Vision users and Lenen users can enjoy the bonus of platform development, the launch of the Lenen mainnet will also usher in the final stage.
In the next stage of the roadmap process, Lenen will use the cross-chain protocol to introduce more assets into the Vision ecosystem, and launch “long-tail asset” lending services beyond mainstream assets, as well as DAO governance, and the NFT lending, to further explore the incremental direction of the DeFi ecosystem of the Vision Metaverse.
Source: Lenen Protocol