Guidelines of LEMD loan mining via OKExChain Main Net.
Deployment on OKExChain would be done within Aug 2nd
Pool activation on 13.00 Aug 3rd UCT.
LEMD could be used to get inbound and outbound yields; to be used for NFT loan market(future orientation);to be used to get member badge for qualification of innovative offering mode(future orientation);to be used for governance of the entire ecosystem(DAO)
Loan mining guidelines as per below.(Liquidity mining guidelines will be presented in another article.)
Tokens available & Contract Address
◇LEMD Token Contract Address：
◇LEMD Contract Address for LP Pool:
600M LEMD of loan mining and liquidity mining will start to be released since 13.00 Aug 3, 2021 UCT with a 4-year-duration approx.
First four weeks will be Genesis phase of mining with 30 LEMD releasing per block and approx. 657,870 LEMD in total per day. After four weeks, output of LEMD will decrease daily by 0.0738% comparing with previous day until the end.
Details per below link.
LEMD Daily Release
Sheet1 Day,Mining,Team 1,657870,32893.5 2,657870,32893.5 3,657870,32893.5 4,657870,32893.5 5,657870,32893.5…
240M LEMD for loan mining and 360M LEMD for liquidity mining. Token allocation ratio will be dynamically adjusted according to the market situation.
Tutorial for borrow and lend
- Visit https://www.lemond.money/ and click “Lend”to enter the loan mining page. Click “Connect”and select related wallet(shifting to OKExChain main net)
2. Deposit tokens: Click “+” button to view details of related loan module. Click “Supply” to deposit tokens and “Withdraw” to take out tokens. (Click “MAX”and then click “supply”at the bottom can deposit all the selected token.
*Leave some OKT test tokens in your wallet as gas fee, otherwise transactions would fail.
3. Borrow tokens: Click “Borrow” to borrow tokens and “Repay” to return tokens. Please press “As Collateral” to activate borrow function.
4. Return borrowed tokens: Click “Repay” to return your borrowed tokens.
*When you have borrowed tokens and you want to withdraw tokens you deposited, you have to return your borrowed tokens otherwise the amount you can withdraw equals to the amount shown by clicking “Safe Max”.
*Due to calculation lag of block, it’s normal to have small redundancies shown in the balance after “Repay”.
5. Withdraw tokens: Click “Withdraw” to get your deposited token back. If “As Collateral” button has been turned on, by clicking “SAFE MAX”, you can withdraw a certain amount with the remaining to keep your collateral at a safe level.
*If all the borrowed tokens have been repaid, you can withdraw all the assets by inputting manually.
6. Claim: Rewarded LEMD would be shown in the page. By completing “Repay” or “Withdraw”, LEMD is automatically claimed while you can also claim it manually.
7. Liquidate：The progress bar on the Lend page shows the percentage of the current loan value to the mortgage value. When the Borrow limit is 100%, and the user’s loan value actually reaches 80% of the mortgage value, liquidation occurs.
*Real minted LEMD for previous Airdrop Episode on OKExChain test net will be distributed on a 1:1 basis after pool activation on OKExChain main net.
*Cross Chain function under developing, notification will be sent before activation.