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Difference between revisions of "Solend"
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changed some "our" and "we" language to more neutral terms and re-formatted the page
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* Short | * Short | ||
=== | == Design == | ||
[[File:Solendchart.png|thumb|Borrow APY's are governed by this chart |alt=|363x363px]] | |||
Borrow APYs are set as a function of utilization, where APY changes based on how much of the pool is borrowed. Each token has it's own "Min", "Optimal" & "Max" that is laid out in the [https://docs.solend.fi/protocol/parameters/main-pool parameters] page. | |||
This way, the protocol can set market friendly rates that attract inflow of capital when utilization rises, while also keeping rates in line for borrowers. | |||
==== Supply APY: ==== | ==== Supply APY: ==== | ||
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==== Borrow APY: ==== | ==== Borrow APY: ==== | ||
When a user is borrowing, they are paying a Borrow APY to the pool (for the users who supplied). This borrow APY is calculated based on the Parameters & The Math, and are displayed on their UI when a user is borrowing. Borrow APY is added to the user's loan on a per-slot basis, so the amount of money a user has to repay goes up over time. | When a user is borrowing, they are paying a Borrow APY to the pool (for the users who supplied). This borrow APY is calculated based on the Parameters & The Math, and are displayed on their UI when a user is borrowing. Borrow APY is added to the user's loan on a per-slot basis, so the amount of money a user has to repay goes up over time. | ||
== Solend Token (SLND) == | == Solend Token (SLND) == | ||
Solend's token is called SLND, the total supply is 100 million SLND. The tokens are allocated as follows: | Solend's token is called SLND, the total supply is 100 million SLND. The tokens are allocated as follows:[[File:Slndtokens.png|thumb|Solend Tokenomics|271x271px]] | ||
[[File:Slndtokens.png|thumb|Solend Tokenomics]] | |||
15% of SLND is allocated to investors. Only 10% was distributed in the seed round, and an additional 5% is set aside. These tokens begin vesting at 1st October 2022. | * 60% of SLND is allocated to the community. Breaking it down, half of that is allocated for the liquidity mining program and the other half is allocated to the Solend Treasury, owned and governed by the Solend DAO. | ||
* 5% of SLND is allocated to the IDO, coming from the treasury. The Solend Treasury will own the IDO funds and LP position, alongside all the revenue generated from protocol fees. | |||
* 25% of SLND is allocated to the core team. Vesting for the team begins on 1st June 2022, depending on when they joined. | |||
* 15% of SLND is allocated to investors. Only 10% was distributed in the seed round, and an additional 5% is set aside. These tokens begin vesting at 1st October 2022. | |||