Q3 was an interesting and busy quarter for our team. In August we announced the project pivot and that we are now putting all efforts into developing a yield / loan aggregator for all major Solana money markets (read more here).
Unfortunately, we had to start from scratch and rewrite practically everything. Our team had to rethink the whole concept, the architecture and the tokenomics, which pushed our previous development plan behind. However, we are now more motivated than ever to create something special and add further value to the DeFi space as well as the solana ecosystem.
We basically spent the whole month of August doing the groundwork. Our belief is that it is important to spend enough time laying the foundations before you actually start writing the code. We have now shifted from planning and conceptualizing to executing and all our developers are now working full steam on V1 of the Aggregator.
With the aggregator our goal is to maximize users returns and at the same time simplify and improve the overall DeFi experience for the end user. Everlend will attract traders and investors who are not able to monitor and adjust their funds 24/7.
The lending landscape on Solana is growing at an unprecedented speed and has changed quite significantly over the past months. There are now 5 protocols operating on mainnet beta: Larix, PortFinance, Solend, Acumen and Oxygen. As a money market aggregator Everlend sees each of these protocols as a potential partner and plans to integrate them.
Project updates
Our development roadmap has been updated and already released to the public. You can find the Medium article here.
We proudly announced our collaboration with Delphi Labs, who we have been in talks with since the beginning of July. We believe their knowledge and experience in delivering some of the best DeFi protocols will add a lot of value to our team. (Read more here)
The redesigned version of our landing page has been deployed. It contains the most important facts, key features and the roadmap of our protocol at a glance. We are very content with the modern, dark color design. Please have a look and let us know what you think: https://everlend.finance/
The Litepaper is now undergoing a few final touches and minor amendments and is expected to be out within 1–2 weeks. We have decided to go with a fully fledged litepaper that will cover all the aspects of the protocol and yet will explain the details in a simple and clear language.
V1 of Everlend is planned to go live in November and will focus on deposit optimization. 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.
What’s next? October and November are going to be even more interesting with some exciting news coming.
Thank you to everyone for bearing with us and sticking around, we truly appreciate your commitment and support.
Thank you,
Everlend team
