Proposal to Add LendFlare Gauge on Ethereum

Summary:

Lend Flare is proposing to deploy a LFT/ETH pool on Curve. This movement will increase the liquidity depth of LFT which will continuously provide loan services to all Curve LP holders.

Abstract:

Our proposal is to help increasing the liquidity depth of Lend Flare DAO token which will provide loan services for all Curve LP holder.

Lend Flare is a decentralized borrowing platform on Ethereum blockchain that allows Curve LP holders (the borrowers) to draw fixed-rate, fixed term and high LTV loans against Curve LP used as collateral, with no concerns for assets being liquidated due to price fluctuation. The collateral LP will be reinvest in Convex to ensure a maximum profit and give all back to borrower. Loans are paid out through Lend Flare from Compound platform. Liquidity providers (the lenders) who deposit loan liquidity through Lend Flare on Compound platform will receive one of the highest interest rate compared to other current lending platforms.

Motivation:

Curve is the biggest AMM in DEFI world and building blocks for a lot DEFI lego projects like Convex and Yearn. Thus, Curve LP is one of the most valuable yield assets at the moment. However, only a few lending platforms allows Curve LP holders to leverage against their assets. Therefore, Lend Flare steps up and design specifically for Curve.

The original motivation is to provide a safe, trustable borrowing services to Curve LP holders while still providing them profits. Liquidity depth of LFT will be crucial since it is one of the main interest we provide to lenders. Currently, 15% of total supply is permanently locked in Uniswap and we are seeking for more.

With upcoming 4 pool and 2 pool proposal, Lend Flare will become one of the biggest Curve partners. Instead of removing liquidity from other pair, Curve LP holders can borrow stables against their assets while keeping all Convex rewards with fix borrow rate and no liquidation concern.

References:

Celo homepage
Documentation
Source code

For:

Curve investors will be able to unlock their assets without losing their original Curve position while keeping all Convex rewards. With increasing liquidity of LFT, Lend Flare will be able to grow and driving more liquidity into Curve.

Against:

Not enough people know about Lend Flare. Lend Flare is a new platform, we will continue improving our platform and keep offering good service to Curve community.

Authors:

LendFlare team

3 Likes

Would be good to get some clarity on this>?

https://twitter.com/bout3fiddy/status/1511699315433086977?s=20&t=FRQlMDt9POn6fQbTFyOQrg

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