Lendefi Finance (Lendefi) is pleased to announce the launch of its leveraged trading protocol on the Binance Smart Chain Mainnet (BSC).
The Lendefi protocol has successfully completed the testnet development phase and is progressing with its mainnet release. The mainnet release will initially take the form of a ‘canary’ release. Security is the primary concern of the Lendefi protocol, and the release of the Canary Mainnet will allow Lendefi to conduct further testing of the protocol to minimize potential risks.
A canary mainnet release enables a fully functional product to be deployed on the mainnet, but it may impose restrictions on how the release is managed. There are minor differences between the operation of the BSC testnet and the mainnet that must be taken into account in the approval process.
Since the Lendefi protocol demonstrates security and robust functionality, it can move to a full mainnet version on BSC. The new technology partners of Lendefi Chain desecration will help with the publication of the Canarian mainnet.
With the gradual release of Lendefi’s mainnet iterations, Lendefi intends to step up its marketing initiatives to increase awareness and use of its leveraged trading protocol. These initiatives include freebies, promotional collaborations, and direct mail. A bug bounty is initiated as the last test phase along a roadmap that has already experienced a successful audit, testnet and canary mainnet release. Lendefi recently updated its token which can be viewed here.
The Lendefi Value Proposition
Lendefi enables leveraged trading through under-secured loans. Traders can access funds for leveraged trading, and lenders can earn interest payments from their trades. The protocol manages both trades and loans within an escrow account that enables a trusted transaction between lenders and merchants. Lendefi will continue to develop its suite of tools with the aim of delivering a comprehensive leveraged trading experience.
About Lendefi Finance
Lendefi is an innovative new protocol that facilitates leveraged trading in digital assets through under-secured secured loans. The Lendefi protocol enables leveraged investment positions to be created within the DeFi environment. A trustless relationship between the lender and borrower is provided and maintained by the protocol to eliminate counterparty risk.
Learn more about the latest official news from Lendefi below.
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Via the Binance Smart Chain
The Binance Smart Chain is a dual chain architecture that enables users to build decentralized apps and digital assets on a blockchain while enjoying the fast trading and exchange experience on the Binance Chain. Highlights of the BSC are that it is EVM compatible, has a block time of around three seconds and enables cross-chain transfers. The Binance Smart Chain has become one of the most important growth drivers in the DeFi sector.
Find out more about BSC on their channels.
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