Lenfi
ValidatedDeFi
Lending
DeFi lending and borrowing on Cardano
- 174 Followers174 Followers
- 145 Likes145 Likes
About Lenfi
Lenfi is a decentralized non-custodial lending and borrowing protocol built on the Cardano blockchain. It allows users to participate as depositors and borrowers in a peer-to-peer or peer-to-pool fashion. Depositors can provide liquidity by depositing funds with pre-set terms or to any of the liquidity pools to earn passive income.
Lenfi, formerly known as Aada Finance, is a decentralized non-custodial lending and borrowing protocol built on the Cardano blockchain. It enables users to participate as depositors or borrowers in a peer-to-peer or peer-to-pool fashion. Lenfi aims to unlock financial potential by providing a range of services such as shorting, longing, yield farming, and stablecoin borrowing. The protocol emphasizes permissionless liquidity, non-custodial operations, and transparent governance, leveraging Cardano's eUTXO model to ensure secure and efficient transactions.
Lenfi Magic Store Validation Score
See Results ››Validation Score
4.4Validation Date: -
- VictorYes
- monyaNo
- SergsYes
- MoneyTalksYes
- im_charlesYes
- skcryptoYes
- Pavel97Yes
- LookYes
- Dmitriy1979Yes
- AlenaMamyYes
- DenisYes
- PevstNo
- krabYes
- AmineYes
- cmarius05Yes
- BddgjkYes
- TipsdeckYes
- qwertyulopYes
- nhoxinh99Yes
- YasserYes
Lenfi Review Score by Real Users
- 20
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- 1
- 0
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Lenfi Magic Store Trust Score
- Security Validators Score
- 06.02.2024Validation Date
Lenfi User Trust Reviews
Lenfi FAQ
Lenfi’s NFT Bonds are unique financial instruments that allow users to leverage their digital assets in a more flexible and innovative way. These bonds enhance the functionality of loans within the protocol, providing users with the ability to utilize their NFTs as collateral for borrowing and lending. This not only opens up new opportunities for asset utilization but also integrates the growing NFT market into the DeFi ecosystem, making Lenfi a pioneer in combining these two revolutionary technologies.
Lenfi’s permissionless liquidity feature allows individual investors to create their own liquidity pools without requiring any approval from centralized entities. This empowers users to have full control over their funds and the conditions under which they are lent out. It democratizes the investment process, making it accessible to a broader range of users, and enables anyone to become a pool manager, thus increasing the diversity and resilience of the ecosystem.
The eUTXO model used by Lenfi enhances transaction efficiency by providing a more scalable and secure way to process transactions. Unlike traditional models, the eUTXO model allows for multiple outputs from a single transaction, which can be processed in parallel. This reduces bottlenecks and increases the throughput of the network, ensuring that Lenfi can handle a higher volume of transactions efficiently and securely.
The Lenfi DAO ensures transparent and fair governance through its decentralized decision-making process. All proposals and changes to the protocol are voted on by the community, with each vote being recorded on the blockchain for transparency. This means that no single entity has control over the protocol, and all decisions are made collectively by the stakeholders, ensuring that the interests of the community are represented and safeguarded.
Lenfi employs several security measures to protect user assets, including smart contract audits, non-custodial operations, and overcollateralization. Smart contracts are rigorously tested and audited by third-party security firms to identify and fix vulnerabilities. Being non-custodial, users retain control of their private keys, reducing the risk of hacks. Overcollateralization ensures that borrowers provide more collateral than the value of the loan, protecting lenders from defaults.
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