Mendi Finance is one of the first lending/borrowing protocols launching on Linea Build that’s growing in popularity lately
What is Mendi all about?
Mendi Finance is an EVM compatible lending/borrowing protocol that launched on Linea.
Mendi aims to be the number 1 lending platform by providing the highest incentives possible through their unique bribe-reward tokenomics.
100% of all profits will go to $MENDI stakers.
Mendi Finance provides peer-to-peer lending solutions that are fully decentralized, transparent and non-custodial.
Users will be able to lend any supported assets on their platform, and use their capital to borrow supported assets.
At launch, Mendi Finance will offer the following high-liquidity money markets with dynamically adjusted incentives:
More assets will be continually added once Mendi is live and running
Mendi Finance is a friendly fork of Sonne & Mare Finance that operates independently.
Both projects have achieved a TVL close to 50 million dollars before
Mendi also offers #RealYield through sharing revenue up to 100% for stakers.
• First 3 months: 80% of protocol revenue and $VC rewards.
• After: 100% profit goes to stakers.
$MENDI is also rewarded to users who lend/borrow tokens in the protocol + used for the bribing mechanism on #velocore:
• 10% for lender
• 70% for borrowers
• 20% for bribes
Emissions will gradually decreases over 3 years to maintain protocol health.
60% of the rewards and bribes will be allocated to protocol participants as well.
The remaining token distribution can be found in the image down below ↓
Mendi will launch with a Liquidity Generation Event where investors can deposit USDC to the contract which will be paired up with 3.2% of total $MENDI, then locked for 180 days to guarantee early liquidity.
This means you get more tokens then you paid for initially.
Early adopters are rewarded 24% more tokens than the amount you purchase.
You participate in LGE with $100 in USDC.
You will receive $124 worth of $MENDI tokens at launch.
The official LineaBuild website has posted a teaser on Mendi Finance.
The founder of Mendi can also be found speaking at Web3 Berlin soon.
The project is early stage but looks very credible.
There’s also a testnet version for you to try:
What are your thoughts?
Will you be participating in the liquidity generation event or will you be borrowing/lending assets?
Let me know
There’s also a discord if you like to keep up to date on everything Mendi.
This is a sponsored post.
I only raise awareness however to projects that receive my credibility approval.
This happens through a background check to the best of my abilities.