Lendefi Launches Canary Mainnet Onto The Binance Smart Chain

Lendefi Finance announces the launch of its leveraged trading protocol onto the Binance Smart Chain (BSC) Mainnet. The launch represents a significant step forward in Lendefi’s roadmap.

Lendefi allows leveraged trading through undercollateralized loans. Traders are able to access funds for leveraged trading and lenders are able to generate interest payments from their trades. The protocol manages both trades and loans within an escrow that facilitates a trustless transaction between lenders and traders. Lendefi will continue to develop its suite of tools with the aim to deliver a comprehensive leveraged trading experience.

The Lendefi protocol has successfully completed the testnet and audit phase of development and is moving forward with its mainnet release. The mainnet release will initially take the form of a Canary release. Safety is the primary concern of the Lendefi protocol and the Canary mainnet release will allow Lendefi to undertake further testing of the protocol to minimize potential risks.

Canary mainnet releases allows a fully functional product running on the BSC mainnet but specifically for testing purposes given there are minor differences between the operation of BSC’s testnet and mainnet which need to be accounted for during the release process.

As the staged release of Lendefi’s mainnet iterations occurs, Lendefi intends to ramp up its marketing initiatives to drive awareness and utilization of its leveraged trading protocol. A bug bounty will be initiated as the final stage of testing along a roadmap that has already seen a successful audit, testnet and Canary mainnet release.

The Future For Lendefi

The Canary mainnet release of Lendefi’s protocol represents the final milestone for Lendefi before the full mainnet release. The Lendefi team aims to continue development to improve the protocol for the benefit of users and token holders.

Additional functionality and features will continue to be added to the protocol and include:

Staking functionality

• An affiliate referral program
• Farming options
• The additional of Limited Orders and Stop-Loss trading functionality
• Governance enhancements through Lendefi’s DAO mechanism
• Multi-Chain integration with Polygon, Optimistic, HECO and Fantom.

About Lendefi

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.

INFO:

https://medium.com/lendefi/lendefi-launches-canary-mainnet-onto-the-binance-smart-chain-a826ad8e28fe