As mentioned in the Medium article from a couple of weeks ago we decided to slightly shift our focus and put all efforts into developing a Liquidity / Loan Aggregator for the Solana Ecosystem. Our goal is to integrate with all major money markets and become the go-to Meta lending protocol on Solana.
Everlend is a highly ambitious project with a truly unique and complex architecture. We took a lot of time researching and assessing the whole DeFi market to be able to deliver something which brings additional utility to the space. After having numerous talks with our stakeholders and industry experts we have finally finished conception phase and we are now very excited to be able to fully concentrate on development and present the recent adjustments on our roadmap to the community. However we would like to reiterate that the dates are still rough estimates as development is still at an early stage and hence the timeline is difficult to be accurately determined.
Liquidity Aggregator (End of October / Beginning of November)
Nevertheless, our team is pushing very hard to release the MVP of our Liquidity Aggregator by End of October / Beginning of November. Our users will be able to deposit their funds, provide and withdraw liquidity and Everlend will utilize aggregation and optimization algorithms to achieve the highest possible yield.
Loan Optimizer V1 (Early December)
Next step is the launch of V1 of our Loan Optimizer, which provides Everlend users with the best borrowing rates at the time the loan is taken. This feature is still very unique to the DeFi space and is expected to attract many traders and investors pursuing the lowest interest rate. Loan interest rate and liquidity yield will also be decoupled, which means the loan can be taken out on money market A while the funds will provide liquidity on money market B to always ensure our users the best performance for their funds.
ELD token launch and insurance pool (February 2022)
An important milestone will be the launch of our governance token ELD, which will happen shortly after our public sale. We haven’t yet determined all the details of the procedures of the public sale, but we are already working closely with our legal team to sort out any legal hurdles and to fully comply with regulatory frameworks in various jurisdictions. After the TGE Everlend users will be rewarded for liquidity provision and borrowing via our governance token and will have the possibility to stake their ELD into the insurance pool and receive additional rewards for providing a security layer for the protocol. On average 10% of all the fees will go to the insurance pool users. ELD token holders are also entitled to submit and vote on governance proposals.
Loan Optimizer V2 (March 2022)
The second version of our Loan Optimizer will enhance the refinancing feature. Refinancing means loan optimization. The loan rates are now monitored across all underlying money markets and borrow positions will be automatically refinanced and moved between protocols to ensure the user pays the lowest interest on the market.
Everlend Money Market (Q2 2022)
Our original mission was to build a decentralized cross-chain money market for the Solana ecosystem. This hasn’t changed and we expect it to materialize by Q2 of 2022. Everlend will enable users to place deposits and / or take out loans directly from our lending protocol. Our money market will be scored and assessed by our aggregator like any other money market that is integrated with our protocol. It will also mark the start of the Loss Protection System, which aims to protect lenders from the risk of borrowers defaulting.
Launch of DAO (Q3 2022)
Another milestone will be the launch of the DAO. Our team plans to fully transform Everlend Finance into a DAO in Q3 2022. The platform governance will now be fully driven by ELD token holders. Via the internal voting system the DAO can change key parameters such as interest rate curve, collateralization ratio, liquidation threshold, optimal utilization ratio and rеserve factor of Everlend to further decentralize and optimize its work.
Loan Optimizer V3 (Q4 2022)
Finally, with version 3 of our Loan Optimizer the algorithms that are driving the process of refinancing and rebalancing can be created by anyone and then be approved by the DAO. This is another huge step towards decentralization and the utilization of the DAO.