Link to WORKING DEMO on LOANS FOR ENS NAMES (live on testnet):
https://lendroidproject.github.io/demo/Consider the three main functions provided by current public exchanges – Exchange (regular trading), Margin Trading, and Lending. Ever since 0x rolled out, a wholly decentralized ecosystem comprising all three functions has begun to seem highly plausible. The catalysts for this are ‘relayers’ – incentivized entities that facilitate the hosting of order books on 0x. The orders themselves are settled on the Ethereum blockchain using smart contracts.
Lendroid is a non-rent seeking, open protocol that enables Decentralized Margin Trading on the Ethereum blockchain. This promises to be an exciting journey, a logical next step in a welcome shift within the [Suspicious link removed]munity.
Lendroid enables the whole Trading experience on-chainThe positive, ecstatic reception that has greeted 0x – a protocol for peer to peer exchange of ERC20 tokens – is the most recent illustration of the shift towards a wholly trust-independent, secure and decentralized exchange. The implications are tremendous, and new 0x relayers such as such as Radar and The Ocean have already begun to enter the fray. However, where 0x has enabled the Exchange function very well, the Lending and Margin Trading functions remain outside of the ecosystem. And these are the missing pieces that Lendroid brings together to create a comprehensive solution.
What Does Lendroid Enable You to Do?1.
Leverage: Using Lendroid, one can use assets (say ETH, ETC, DGD, REP or MKR) as collateral, take a loan against it, and hold a position on leverage. This means borrowing money to buy digital assets whose value you believe will increase.
2.
Short Sell: If holding long is to make money off your faith in the growth of an asset, short selling is where you monetize your lack of faith! An investor (or fund manager) can put up collateral, and borrow a token that he feels will lose value in the future. He sells it in the market. And shortly, when the token is indeed cheaper, he buys it back and repays the loan
3.
Earn Interest: One could choose a low-risk, low-friction means to make the asset work – by lending it to borrowers looking for funds for their own trading related activities. Say there’s some ether and the investor’s decision is to go long, he could lend a portion of it out for an interest. This earns additional income for the portfolio, with limited downside.
Who are the Stakeholders in this Ecosystem?There are four players on the protocol, two of whom provide utility and two others who avail of these utilities and participate to maximize profits. The Lenders and Traders pay for the essential
services of the Relayers and Wranglers
The Lender: The primary participant. His trust in the trust-independent protocol will power the creation of a global lending pool. Innovative rules and fail safes have been put in place to not let down his basic expectations – of protecting his capital and earning risk-free interest in a low-friction manner.
The Relayer: The first point of contact for both lender and trader on the Lendroid protocol. Off chain, this entity effectively takes up the liquidity related functions of an exchange in a wholly decentralized manner. Relayers provide an interface, and manage order books and offer books. They are key to creating the shared global lending pool.
The Margin Trader: Enjoys leveraged lending in a uniquely decentralized environment. He deposits collateral, avails the loan offered by lenders and engages in margin trading/short selling. He opens a margin account, within which he is free to change positions or add collateral. He can withdraw his collateral or liquidate his Margin Account when there are no loans owed.
The Wrangler: An entity conceptualized exclusively for the Lendroid ecosystem. By monitoring and ‘Wrangling’ terminal accounts (at liquidation level), the Wrangler maintains the general health of the ecosystem, while also protecting the interests of the Lenders. Monitoring accounts is a computationally intensive role. The applications of such processing power spill beyond the requirements of the protocol, and can begin to enhance the experience of the other participants.
Does Lendroid Have a Token? How Does it Help the Ecosystem?
To quote Ethereum Foundation advisor William Mougayar, “...there needs to be a specific linkage between user actions and the resulting effects of those actions on the overall value to the organization.”
Lendroid has a native token, called the Lendroid Support Token (LST). This ERC20-compatible native token of the protocol, has been envisioned for a three-fold objective –
- To lubricate processes and drive utility on the protocol
- To incentivize participation
- To empower governance
Participation on Lendroid requires a user to spend LSTs. Those that do not are incentivized to earn LSTs by engaging in activities that contribute to the health of the ecosystem.
The LST is a vehicle to enable Code upgrades, Network parameters, and Supported assets. These will subsequently become community-based processes. The vehicle for such governance will, however, be the LST.
What Kind of Enterprise is Lendroid?The Lendroid Foundation is a not-for-profit organization headquartered in Singapore, engaged in developing the non-rent-seeking, open protocol for Decentralized Lending and allied financial
applications.
What Does Lendroid Hope to Achieve?Imagine a truly trust-independent protocol, where lenders and borrowers can discover each other and speak a common language.
Where the interests of a Lender — the primary source of liquidity — are protected. Where the terms of the loan are inviolable, ‘on-chain’. A range of interesting applications and financial instruments based on lending can take root, take shape. And facilitating all of these exciting financial models would
be, we hope, Lendroid. If you need a de-facto lending protocol for digital assets, we’re here.
Lendroid is itself non-rent-seeking. It is non-partisan. For one, it makes us feel good about what we’re doing. But the larger implication here is that there is no drag on those who choose to build on this protocol, or integrate with it in any manner. This is something projects like Keep, Radar Relay, 0cean are discovering.
The revolutionary bit about all this is the gradual creation of a shared, global lending pool. For lending to be effective, it is imperative that liquidity is pooled in one place.
Lendroid would enable a universally accessible liquidity pool, not a centrally-controlled one. The difference between the two is the key to true trust-independence - the blockchain promise.
MEET THE TEAM
Token Generation Event (TGE) details and token distribution
A maximum of 6 Billion Lendroid Support Tokens(LST) will be created during the one-time token launch event, after which no more LSTs will ever be created.
More details about the token generation will soon be made available.
Roadmap
• Q1 2017 - Whitepaper on Decentralized Digital Asset Lending released to the community
• Q2 2017 - Loans for ENS names demo launched on Kovan
• Q3 2017 - Whitepaper describing our approach to decentralized margin trading.
• Q4 2017 - Network launch on Ethereum with support for ERC-20 tokens
• Q3 2018 - Protocol/Network governance moved from multi-sig to token holder voting
• Q4 2018 - Multi-chain asset support.
BOUNTIES
Details coming soon!
