Everlend Development Update - Q4 2021

November and the beginning of December saw the release of two long-anticipated documents: The Governance and Risk Framework, which is an essential piece to objectively compare and assess the lending protocols that we plan to integrate. We are also happy to have finally published our Litepaper, which hopefully sheds more light on technical details and our long-term vision for Everlend.

Development Updates

In terms of development the last couple of months have been very busy and our team has made tremendous progress.

Our Developers have been working extra shifts to be able to deliver a small teaser of our Yield / Loan Aggregator before the Christmas holidays. Today we are very excited to announce the launch of the closed beta version of Everlend on Friday 24th of December.

The closed beta can be seen as a showcase, which as the name says won’t be available for the public, but will be battle tested by our early backers and members of our Discord Group “Everlegion”. However we will provide a test version for everyone in the coming weeks.

Users will be able to make a deposit and have their funds automatically rebalanced. To make the User experience as authentic as possible we will also activate Liquidity Mining rewards, which will be paid in various asset types of the underlying money market. Withdrawals of funds are also possible at any time. In the beginning we will have 2 integrated money markets: Port Finance and Larix.

We made sure to support all standard Solana wallets from the library to make Everlend as accessible as possible. (https://github.com/solana-labs/wallet-adapter/tree/master/packages/wallets )

With Everlend we want to bring DeFi to the masses and with its straightforward design we are targeting crypto veterans as well as absolute beginners who aren’t yet familiar with DeFi products. The UX is being designed by IDEO We3 and we think they are doing an excellent job.

The UI also needs some tweaking. We will be using a couple of placeholders on the test version for now.

Plan for the upcoming weeks:

Alpha Version is planned to go live in January next year. We hope to be able to implement as many features as possible for our start. For now we decided to begin with Liquidity Aggregation first and add Loan Aggregation after some weeks of testing. Liquidity Mining rewards will be paid out on/after day 1.

Our smart contracts will of course be audited before the launch of Alpha Version and most likely will have a separate announcement via our Social Media Channels, so stay tuned for that.

The full document about the Tokenomics of ELD, Everlends governance token, and an updated Roadmap will also be shared with the community shortly after the holidays.

Decentralized, cross-chain lending protocol with yield farming and liquid staking powered by Solana and built by Attic Lab and Everstake.