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Lendefi Finance - Get Undercollaterized Loans on the BSC

David Hamilton • Apr 09, 2021

Lendefi Finance wants to make it easier for you to get access to funding. The developers behind the project wanted to create a decentralized alternative to the current lending business models. They came up with a unique peer-to-peer undercollateralized lending system that leverages top DeFi lending pools to provide lenders with more protections. 

 

This strategy allows the platform to offer these services in a permissionless and trustless manner to its users. In comparison, the majority of peer-to-peer DeFi lending platforms in service today require full collateral to offer you services. This requirement often serves as a financial barrier to new users. Lendefi eliminates this concern in some unique ways.

 

For one, its open policies eliminate the red tape usually associated with taking out loans. Consequently, the platform also eliminates the costs each of these parties adds to the cost of taking out traditional loans. These cost savings are passed on directly to the users in the form of lower interest rates and rewards to lenders.

 

Responsive Development

The development team has already proven to be very responsive to the needs of their users. The network launched in December 2020 on the Ethereum network. Since that time, Ethereum has experienced growing congestion which has resulted in record-high gas fees for users. In some instances, the gas fees are higher than the actual transactions. 

 

Lendefi Goes BSC

Lendefi Finance's developers realized that these fees were going to be a hindrance to its clients and migrated the network over to the Binance Smart Chain (BSC). BSC is the fastest-growing competitor to Ethereum at this time. The network features lower fees, higher scalability, and a variety of features only found on fourth-generation blockchains such as staking and farming.

 

Added Features

The move has allowed Lendefi to begin development on both staking and yield farming protocols. These features are set to be released soon. Staking and farming are terms that refer to the act of locking your cryptocurrency into a smart contract in exchange for rewards. 

 

The difference between the two strategies is that farming doesn’t have required lockup periods and staking does. Both farming and staking are ideal features to have on the platform. These services are now the standard in DeFi because they enable regular and new users to secure more stable and consistent ROIs when compared to trading. 

 

Lendefi Finance Ecosystem

There are lenders and borrowers in the Lendefi ecosystem. The lender receives rewards in the form of variable interest rates charged to borrowers. Borrowers pay the interest and a small fee which is the difference between the interest rate the borrower pays and the lender receives.

 

Deflationary Fee Structure

Uniquely, these fees are used to remove the platform's native token, LDFI, from the market via a buyback and burn mechanism. This deflationary approach to DeFi allows developers to better avoid inflation. These tokens can also be used to payout rewards for lenders, stakers, and farmers. Users can trade LDFI on PancakeSwap.

 

Dual Currencies

Lendefi Finance introduces two new currencies to accomplish its decentralized lending strategy. The first token is LDFI. This token holds multiple responsibilities within the network. It functions as a utility, rewards, and governance token. Notably, the first LDFI was minted in January 2021. This was the same time that the network began its migration to the BSC. 

 

The second token, BUSD, is the currency used for borrowing and lending. This token is a stable coin pegged to the value of the USD. The decision to utilize a stable coin for lending is wise for many reasons. For one, it makes accounting much easier. Additionally, new users are better able to understand the process because everything is displayed in USD values.

 

Secure Lending

One of the primary concerns that developers wanted to address was code errors. The platform has undergone multiple code audits by a variety of reputable firms. Additionally, the platform has never been successfully hacked to date. 

 

Financial Protections

Lendefi Finance provides lenders with some solid benefits. The network's unique strategy of securing loans via liquidity provided on the DeFi ecosystem like PancakeSwap introduces some huge advantages. For one, they never have to worry about getting repaid on time.

 

These large liquidity pools provide plenty of funding to ensure your repayment is in full and never delayed. Additionally, the platform will liquefy the borrower’s collateral if the value drops below a preset percentage. In this way, Lendefi Finance removes any counter-party risk between the borrower and the lender and removes many of the financial barriers associated with these tasks.

 

A Community-Driven Project

Another bonus comes from the fact that Lendefi is a community-driven project. The network is simply code that functions as a decentralized autonomous organization (DAO). To participate in voting, you need to hold over 1% of the tokens in a network wallet. 


You can delegate your voting rights to other members of the network. They also have the ability to delegate their voting rights to you. These users can vote on all technical upgrades and changes to the business model. 


Critical changes regarding the interest rates, the addition or removal of new assets, how rewards are distributed, and other vital changes are up for community discussion. Community governance mechanisms are more popular than ever in the DeFi sector. These helpful protocols help to maintain cohesion throughout a decentralized community. 

 

Lendefi Finance - A New Twist on Peer-to-Peer Lending

Lendefi Finance has a lot of things going for it at this time. The network is on BSC which is a big plus when you look at the astronomical gas prices on Ethereum at the moment. Additionally, lenders are sure to enjoy the added protections provided by the security mechanisms introduced by the network. For these reasons, you should expect to hear more from this team in the coming weeks as more lenders make the move to more cost-efficient networks.

Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. None of the content on Crypto Folds is investment advice nor is it a replacement for advice from a certified financial planner. Please do your own research before purchasing or investing into any cryptocurrency.  

Leetah Launches Presale Phase for LEET Tokens Eyeing $5 Million Soft Cap

By Press Release • 09 May, 2024
The Leetah project has officially launched its presale phase for the platform's native token, LEET. The project takes inspiration from the term "Leet" ("elite") and the features of a cheetah in a fun crypto twist. With a 5-phased roadmap, this new meme coin has a serious design that wants to bring value to its community. The ongoing presale phase aims to raise a soft cap of $5 million, a new important milestone for the project.  Leetah's Presale and Engagement Opportunities The project's presale will start at an initial price of $0.0065 for each LEET token. The team plans to leave the presale open until investors buy all allocated tokens. Specifically, with a total supply of 1,337 billion tokens, the presale will allocate 35% of this amount. Another 25% will let the team develop the project through its roadmap. LEET will go live through a decentralized exchange (DEX), for which the team allocated 30% of the token supply. The remaining 20% will cover marketing expenses (10%), airdrops (5%), and affiliates benefits (5%). The project will also feature a "Refer and Earn" program. The initiative will allow participants to earn additional LEET tokens by referring friends and family to the presale. With a 10% reward on their referrals' purchases in USDT, this program incentivizes active promotion and engagement within the community. Multi-Chain Launch Plans Leetah aims to launch on multiple blockchain platforms, including Ethereum, BNB Chain, and Solana. This approach will not only promote accessibility for investors but also set the foundation for potential expansion in the future. The project has already gained traction within select alpha communities with its unique presale strategy and innovative features. Specifically, this project's plans feature five different phases: Phase 1 (or "LeeTah is born") involves launching social channels and the website, followed by the presale phase. Phase 2 ("LeeTah grows") focuses on community building and marketing initiatives while passing a contract audit for security purposes. Phase 3 ("LeeTah roars") will see an increase in marketing efforts and community contests. At this stage, the team also expects to conclude the presale phase. Phase 4 ("LeeTah sprints") will mark the launch of Leetah's NFT collection and its listing on CoinGecko and CoinMarketCap. Finally, Phase 5 ("LeeTah Feeds") will involve the project's listing on major centralized exchanges and the launch of LEET TOOLS. About Leetah Leetah is a project driven by experienced developers to implement and test cutting-edge technologies in blockchain and digital token offerings. The project aims to be a leading name in Web3, pushing boundaries for investors and cryptocurrency enthusiasts worldwide. The ongoing presale phase for its native token, LEET, aims to raise a soft cap of $5 million. Leetah plans to launch on multiple blockchain platforms and has an ambitious roadmap featuring 5 phases of development. With its unique concept and strong team, Leetah wants to leave its mark in the Web3 sector. Anyone curious about Leetah and the LEET token can visit the project's website . The social media pages below frequently share news on Leetah's developments. X (Twitter) | Telegram

NOWPayments Enables Cryptocurrency Purchases of Tangem Wallets: Expanding Payment Options with BTC, ETH, USDC, and More

By Press Release • 09 May, 2024
NOWPayments, a leading crypto payment gateway , is proud to announce a strategic partnership with Tangem, the world’s leading provider of secure and easy-to-use hardware crypto wallets. This collaboration is set to revolutionize the way customers engage with digital currencies by enabling the purchase of Tangem wallets using a broad spectrum of cryptocurrencies. Responding to substantial customer demand within the Tangem community, this partnership facilitates the ability to purchase hardware wallets directly with cryptocurrency, providing a much-needed solution for enhanced transaction convenience and security. Through this initiative, customers have the opportunity to acquire Tangem wallets using a diverse range of digital currencies, including BTC, ETH, USDT, USDC, XRP, APE, SOL, TRX, MATIC, ADA, ALGO, LTC, DOGE, BCH, SHIB, DAI, and KAS. This not only meets consumer expectations for seamless transactions but also boosts the utility and adoption of these cryptocurrencies in everyday purchases.  Furthermore, this partnership significantly benefits our blockchain partners by increasing the transactional use and visibility of their tokens, thereby strengthening their position in the global crypto market. Tangem AG is a Swiss technology company known for its remarkably simple and secure self-custodial hardware wallet. The Tangem Wallet, the size of a standard bank card, enables users to securely store, buy, swap,, transfer, and manage thousands of cryptocurrencies anywhere and anytime, while being the only owner of your private keys. Tangem is redefining the wallet experience by delivering top-level security, simplicity and accessibility. “Our partnership with NOWPayments marks a significant milestone for Tangem, as we continue to evolve and adapt to the changing landscape of digital payments. Being able to accept payments in crypto not only expands our reach but also aligns perfectly with our mission to simplify and promote the use of cryptocurrency in everyday transactions. It underscores our commitment to innovation and customer-centric solutions, enabling us to better serve our community and partners while driving forward the broader adoption of digital assets”. NOWPayments and Tangem are committed to continuously developing and refining the infrastructure that supports digital currency transactions. This collaborative effort is a testament to our shared dedication to promoting a more inclusive and efficient financial ecosystem. About Tangem Tangem is a leading Swiss-based provider of secure hardware wallet solutions designed for the safekeeping and management of digital assets. Its mission is to empower individuals to take control of their digital wealth, with an emphasis on security, ease of use, and flexibility. Tangem's innovative products have garnered significant interest from investors and customers alike, driving the company's continued growth and success. For more information, visit the website . Follow Tangem’s latest news on X (Twitter) , Telegram , Discord , YouTube , Instagram , and LinkedIn . About NOWPayments NOWPayments is the leading cryptocurrency payment gateway offering support for over 300 digital currencies, enabling businesses and individuals to accept crypto payments with ease. The platform stands out in the market with its low transaction fee of only 0.5%, the lowest fee on the market. Clients can directly withdraw euros to their bank accounts, enhancing the convenience and usability of the service. Each account benefits from personalized attention through a dedicated account manager and round-the-clock support, ensuring a smooth and responsive user experience. With NOWPayments, embracing the power of cryptocurrencies has never been easier or more accessible. For more information, visit the website . Follow Tangem’s latest news on X (Twitter) .

Galaxis Unleashed: The Highly Anticipated Token Launch on Bybit

By Press Release • 09 May, 2024
On the 10th of May 2024 at 10AM UTC, Galaxis, a Swiss-based Web3 platform, is set to announce its initial token launch, which will be accessible through the Bybit exchange platform. Galaxis is a platform designed to empower creators and brands to build and manage their communities, ensuring that once a community is established, it remains under the sole ownership of its creator and members. Along the journey, partnerships with high-profile individuals like DJ Steve Aoki, actor Val Kilmer, and NBA personality LaMelo Ball have been established. Over the past few years, more than 225,000 NFTs have been sold, generating over 32,000 ETH ($100 million) in secondary sales of NFTs. Now, the focus is on mass distribution. CEO and co-founder Andras Kristof, who also installed the first Bitcoin ATMs in Singapore, shares some exciting news: "The next step includes supercharging the ecosystem with our $1M dollar Creator Grants programs, the CoinMarketCap Incubation, and many other exciting opportunities where both creators and members get paid. All this is happening on the Galaxis Platform, which is launching soon.” Galaxis, as a post-hype NFT utility platform, believes that this new technology will transcend the hype and bring real value to all industries beyond Web3. 

MAOCAT Successfully Raises Presale Funds, Bringing Back the Memecoin Hype

By Press Release • 09 May, 2024
The team working at MAOCAT has recently acknowledged the great success of the project's presale fundraising round. With this operation, they have managed to raise a significant amount and attract the attention of investors and meme fans. The project's diverse ecosystem, featuring staking, farming, launchpad, and NFT marketplace functionalities, is proving appealing. With many memecoins failing to gain traction in the presale stage , MAOCAT is already standing out in this sector. A Rare Successful Presale Story Crypto enthusiasts know that presales are a crucial phase for any project, where success is elusive. While many projects have not even managed to survive the presale phase, MAOCAT has already managed to raise over $300,000. This means that the team has already allocated more than half of the available tokens for the presale. The presale token quantity stands at 3,000,000,000 tokens, while the total supply is 5,000,000,000 MAOCAT tokens. This means the team reserved 60% of the total supply (3,000,000,000 tokens) for the presale allocation. The remaining 40% will help fund future initiatives and ecosystem development for MAOCAT.  The presale will follow a gradual increase in token price, from $0.0015 per token in Phase 1 to $0.003 per token in later phases, with a selling quantity of 300,000,000 tokens per phase. The project also has a clear taxation structure: Marketing Tax: 3% Liquidity Pool (LP) Tax: 3% Development Tax: 2% Buy and Sell Taxes: 0% This taxation structure aims to ensure the project's long-term sustainability and growth. MAOCAT has already shown itself as a rare success story in presales, as its numbers are showing. Building a Diversified Ecosystem with MAOCAT The project's ecosystem relies on various innovative features to provide a diverse and profitable experience. MAO CAT offers NFT minting, farming, launchpad, and a marketplace for trading and collecting. These features allow users to participate in the fast-growing NFT market and earn from their investments. Additionally, the project's fixed staking feature provides stability and rewards for holders of $MAO. Future updates will also include the ability to launch tokens through the IDO process and acquire MAO CAT NFTs. With a diverse ecosystem, MAOCAT aims to capture various market segments and continue growing in popularity and value. The rarity tiers of the 10,000 MAO CAT NFT collection offer unique benefits for holders. Moreover, the project plans to fairly mint and reveal these NFTs through different methods. With MAOCAT, users can benefit from owning rare and legendary NFTs while supporting the growth of the underlying project. About MAOCAT Derived from the Chinese word "máo," MAOCAT is an Ethereum-based memecoin that has gained popularity worldwide. Thanks to its unique features and capabilities, MAOCAT aims to create a robust blockchain ecosystem with a strong community. This team's idea is to enter a market where dog-themed memecoins are prevailing and bring something fresh to the table. An early adopter of the project can easily participate in the presale on the Ethereum chain. In order to do so, one only needs to connect a wallet to the presale purchase window and send ETH. With over $300,000 already raised in the presale round, MAOCAT has shown how serious it is about its vision. The project's official website and whitepaper represent an easy-to-read, simple suite of information for any crypto enthusiasts. Furthermore, MAOCAT's social pages constantly update the community on new developments and milestones. X (Twitter) | Telegram | Instagram | YouTube
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