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Welcome to "Starknet A2Z" by @crypto_gurkha.
The series where we explore #Starknet's ecosystem.
We will explore @zkLend, a money market protocol that was recently launched on @Starknet Mainnet.
To explore more #Starknet dApps, visit starknet-ecosystem.com
🧵⏬
The series where we explore #Starknet's ecosystem.
We will explore @zkLend, a money market protocol that was recently launched on @Starknet Mainnet.
To explore more #Starknet dApps, visit starknet-ecosystem.com
🧵⏬
ZkLend is a Money-market protocol aiming to be a transparent, secure, & effective platform to cater to the liquidity requirements of users. It operates as an open lending market designed for retail & institutional clients, allowing them to deposit and borrow digital assets.
Users participating in the protocol have the opportunity to generate a yield by depositing digital assets, as they receive interest from borrowers who utilize those assets.
Additionally, users have the option to leverage their deposited assets as collateral in order to borrow other assets, thereby contributing to a dynamic and adaptable #Starknet ecosystem.
Making it 2 major use cases & 2 primary products!
Making it 2 major use cases & 2 primary products!
Lend
Users can choose to deposit their digital assets into the market pools, thereby contributing liquidity & earning interest on the lent assets. The yield received is influenced by the borrowing demands for these assets, without any imposed limitations such as lock-up periods
Users can choose to deposit their digital assets into the market pools, thereby contributing liquidity & earning interest on the lent assets. The yield received is influenced by the borrowing demands for these assets, without any imposed limitations such as lock-up periods
Borrow
Users have the option to borrow assets from the market pools by using their own assets as collateral. The borrowing cost for each asset is determined by the interest rate model, which takes into account factors such as the type of asset and the utilization of the pool.
Users have the option to borrow assets from the market pools by using their own assets as collateral. The borrowing cost for each asset is determined by the interest rate model, which takes into account factors such as the type of asset and the utilization of the pool.
As previously mentioned zkLend offers two primary products to cater different user segments
Artemis:
A permissionless service for DeFi users, providing overcollateralized loans. It is targeted at retail users, offering a decentralized solution without compromising accessibility
A permissionless service for DeFi users, providing overcollateralized loans. It is targeted at retail users, offering a decentralized solution without compromising accessibility
Apollo:
A permissioned and compliance-focused solution for institutional clients, including institutions, SMEs, and hedge funds. It provides undercollateralized loans where applicable.
A permissioned and compliance-focused solution for institutional clients, including institutions, SMEs, and hedge funds. It provides undercollateralized loans where applicable.
The interest rate model:
It determines the interest rates for borrowing & lending assets on the platform, using a dynamic approach based on the utilization rate of each asset market. The utilization rate calculates the availability of capital in a borrowed liquidity pool.
It determines the interest rates for borrowing & lending assets on the platform, using a dynamic approach based on the utilization rate of each asset market. The utilization rate calculates the availability of capital in a borrowed liquidity pool.
Deposit APY - Annual Percentage Yield:
The interest earned by liquidity providers who deposit their assets into the pools. The calculation of Deposit APY involves factors such as the utilization rate, stable borrowing rate, variable borrowing rate & asset-specific reserve ratio
The interest earned by liquidity providers who deposit their assets into the pools. The calculation of Deposit APY involves factors such as the utilization rate, stable borrowing rate, variable borrowing rate & asset-specific reserve ratio
zkLend's interest rate model and Deposit APY aim to strike a balance between borrowers' demand for assets and lenders' incentives to supply liquidity, creating a dynamic and efficient lending market.
When a user exceeds their borrowing capacity, their collateral asset is auctioned off at a discount. Liquidators purchase the asset and receive a bonus as a reward. The bonus is deducted from the borrower's collateral as a penalty, based on the percentage of collateral liquidated
To ensure enough liquidity for withdrawals, a portion of the total revenue is allocated to the zkLend safety module. Additionally, liquidators are incentivized to repay debt on behalf of the borrower, further promoting risk mitigation and maintaining the stability of the platform
A major role in zkLendverse will be ZEND, zkLend’s native protocol token.
While the team has not announced dates for token launch, we know that it will be central to the protocol’s operations to foster user engagement
While the team has not announced dates for token launch, we know that it will be central to the protocol’s operations to foster user engagement
Recent News!
zkLend Alpha is now live on the mainnet!
Which includes $ETH, $USDC, $USDT, $DAI, and $WBTC.
Users can now deposit assets, borrow funds, and engage in Starknet ecosystem.
zkLend Alpha is now live on the mainnet!
Which includes $ETH, $USDC, $USDT, $DAI, and $WBTC.
Users can now deposit assets, borrow funds, and engage in Starknet ecosystem.
To ensure a secure rollout, #zkLendMainnet Alpha implements borrow caps at launch. This means borrowing power is initially limited. This will change with Network improvements
To ensure the utmost security, #zkLend has partnered with Starknet-leading entities, in the likes of Oracle provider, @PragmaOracle, which offers decentralized and transparent price feeds on-chain.
And To ensure security and reliability, Smart contracts have undergone comprehensive audits conducted by ABDK and @nethermindeth.
medium.com/zklend/our-mai…
medium.com/zklend/our-mai…
Team:
With a background in Tradefi and WEB3, the Hong Kong-based team is well-versed in the #Starknet realm.
@bfu_fubrian
@jane0mac
@0x_MOONGIRL
@zkLendIntern
With a background in Tradefi and WEB3, the Hong Kong-based team is well-versed in the #Starknet realm.
@bfu_fubrian
@jane0mac
@0x_MOONGIRL
@zkLendIntern
Are you interested in exploring cutting-edge projects that are being built on Starknet?
Follow us and make sure to check our Homepage to discover the latest #Starknet projects and join us on our journey of innovation
starknet-ecosystem.com/en
Follow us and make sure to check our Homepage to discover the latest #Starknet projects and join us on our journey of innovation
starknet-ecosystem.com/en
@Starknet
@StarkWareLtd
@CairoLang
@StarknetFndn
@odin_free
@GuthL
@dimahledba
@EliBenSasson
Shout out to @crypto_gurkha for the research & post! Also @0xNurstar & @starkience for your support!
@StarkWareLtd
@CairoLang
@StarknetFndn
@odin_free
@GuthL
@dimahledba
@EliBenSasson
Shout out to @crypto_gurkha for the research & post! Also @0xNurstar & @starkience for your support!
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