Lemond Protocol — a Juicy way of Loan
We’re thrilled to announce the grand launch of our Juicy interest rate protocol — Lemond.
Lemond is scheduled to initially run on OKExChain, supporting BTC, ETH, OKB, OKT, USDK, USDC, DAI, USDT firstly and will have a follow-up deployment to Ethereum and other important public chains.
Lemond is a decentralized, open-source, autonomous, non-custodial liquidity market protocol where users can participate as depositors or borrowers. Depositors provide liquidity to the market to earn a passive income, while borrowers are able to borrow in an overcollateralized (perpetually) or undercollateralized (one-block liquidity) fashion.
Each asset supported by the Lemond Protocol is integrated through a lToken contract, which is an EIP-20 compliant representation of balances supplied to the protocol. By minting lTokens, users (1) earn interest through the lToken’s exchange rate, which increases in value relative to the underlying asset, and (2) gain the ability to use lTokens as collateral.
lTokens are the primary means of interacting with the Lemond Protocol; when a user mints, redeems, borrows, repays a borrow, liquidates a borrow, or transfers lTokens, she will do so using the lToken contract.
Each market has its own lToken (lETH, lOKT…), which you’ll receive when you supply that asset to the protocol; lTokens represent your balance in Lemond. View them in your wallet, program them, or send them to cold storage — it’s all up to you!
Simply by holding lTokens, you’ll earn interest, which accumulates through the lToken’s exchange rate — over time, each lToken becomes convertible into an increasing amount of its corresponding token.
Remember, comparing with other DeFi protocol, Lemond is much more Juicy:-p