👀Overview

LENX Lend Overview

LENX Lend Platform Summary

LENX Lend stands as a multi-chain lending platform that creates lending opportunities between two ERC-20 assets, mainly involving xBTC. Each lending pair operates independently, providing a space for anyone to engage in both lending and borrowing activities.

When lenders contribute ERC-20 assets to a pair, they receive lxTokens that accrue yield. The lxTokens can be exchanged for increasing quantities of the original asset as interest accumulates.

Key Participants in the Ecosystem

At the core of LENX Lend's operations are the Lenders and Borrowers, who interact through specific Lending Pairs.

• Lenders contribute Asset Tokens to a pair and are issued lxTokens in return.

• Borrowers pledge Collateral Tokens to obtain Asset Tokens. The process of borrowing is subject to an interest rate, which is compounded and paid out to lenders when they redeem their lxTokens.

Apart from the Lending Pairs, the ecosystem is supported by additional components such as Oracles that use Chainlink or Pyth infrastructure depending on the specific chain.

• Oracles are employed to establish market rates for both Asset and Collateral Tokens, integrating data from various sources to ensure a reliable and tamper-proof price feed.

• The deployment of each pair is facilitated by a Deployer contract, while a Pair Registry maintains records of all LENX Lend Pairs introduced to the platform.