Community Update

05 February, 2022

In this Lendefi Community Update, we would like to inform you about the current status of our development progress. We strive to be fully transparent about the progress with detailed updates.

First of all we want to clear the situation about the past. We have been working together (since April 2021) with a developer team called Blockchain Labs Asia, unfortunately they were not able to deliver and we had to make a hard cut, which left us behind with an unfinished codebase and more problems like the bridge bug, which happened straight after we made the cut. In the meanwhile we had been in contact with the team from Chainsulting, they helped us to get back on track and got the new token created. In the last 2 months they continued working on high standard documentation of the platform and supported the internal developers to fix the last bugs.

The documentation was critically important, first to identify all errors and also to give us a detailed overview of what we have and what we do not have. After that time we can now confidently say, we have a version which is just about ready to go to mainnet and a fully documented platform, which gives us the advantage to get new developers faster into our platform as before.

February will be used to fix one last bug around the lending pool liquidity and prepare for mainnet release.

Afterwards, our development team will redeploy to BSC mainnet and make further improvements to the codebase. Further work on fully implementing staking, farms, other EVMs and improvements to lending will follow.

Summary

A big thank you to the community for believing in the project and your patience while we complete all these big milestones. Besides the clear focus on development, we are constantly preparing the marketing and liquidity formation starting with mainnet launch.

Given we are also a community driven project, each of you is automatically a part of this project. Therefore, we ask you to be more active than ever before. Every social media activity helps us to spread the word now.

We have great opportunities with our upcoming product release and there is a great upside potential ahead of us. We’re very confident that all development steps will open new doors for the project.

Thank you and stay tuned for further updates and announcements.

The Lendefi protocol will deliver leveraged trading and secured lending for cryptocurrency markets. Utilizing an undercollateralized loan model, Lendefi facilitates a trustless relationship between lender and borrower, managed by the protocol to remove counterparty risk.

For further information please join our global Telegram group, visit our website, join our Twitter feed or inspect our Gitbook documentation.