Key points of this article
Lendle supports deposits of USDe, FBTC, cmETH, and other assets that can accumulate airdrop points.
The interaction cost is about 0.4 MNT, and you can mint Layer3 cube to share 400,000 MNT.
Lendle is the native lending protocol on the Mantle chain, currently with a TVL of about 30 million dollars, making it the second largest lending protocol on the Mantle chain.
Lendle's contract code is forked from Geist Finance, and the Lendle V1 code is audited by Sourcehat (the same auditing unit as Geist).
The platform token LEND has been issued. By staking assets on Lendle, you can earn LEND tokens. Staking and locking LEND tokens allows you to share platform income.
Advanced task operation steps
The task of Lendle is to experience the operation of depositing and borrowing assets.
1. Deposit any asset worth five dollars.
Basically, the assets on Lendle, apart from stablecoins AUSD, USDC, and sUSDe which provide relatively high APY, most assets have low APY. Here, everyone can choose the assets they own to deposit.
* You can deposit USDe to participate in $ENA airdrop (20x points), FBTC (4x Sparks points), cmETH (20x COOK airdrop points).
2. Borrow any amount of cmETH or FBTC.
It is recommended that everyone lend out FBTC, as the APY for lending FBTC is positive (Rewards 4.99% > Interest 2.19%).
* Be careful not to click "MAX" to borrow all assets. In case of price fluctuations, if the health factor drops below 1, your collateral assets will be liquidated.
3. Borrow any amount of AUSD.
AUSD has a higher interest rate (-6.83%). It is recommended that if you do not need AUSD, you can lend out 1 AUSD and immediately repay 1 AUSD after completing the L3 task.
4. Mint a cube (raffle ticket).
After completing the above three tasks, you can return to the Layer3 task page to mint a cube and receive two raffle tickets to share in the 400,000 MNT prize pool.
Summary
Lendle's strategy mainly focuses on experiencing a complete cycle of deposits and borrowing, involving assets including FBTC, cmETH, and AUSD, the three native assets on the Mantle chain.
The cost is approximately the interaction cost of 0.312 MNT + 0.1 MNT for minting CUBE = about 0.412 MNT.
Regarding AUSD, it is a stablecoin recently launched by the Mantle chain and its partners. There may be different interest rates on various platforms, and there might be arbitrage opportunities. Everyone can observe and see.
Overall, the interest rates of Lendle are indeed not attractive compared to other lending platforms on the Mantle chain. However, Lendle's official team frequently participates in Mantle activities, so there is still a level of participation and exposure.
If I were the author, I might consider staking USDe in Lendle to earn ENA airdrop points. Given that ENA often has good news and significant price increases, participating in the ENA airdrop in the last few months of S3 still has the potential for decent returns.
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※ While holding cmETH to participate in Defi Fest, if you want to earn an additional 10% COOK airdrop points, don't forget to fill in the referral code section in Methamorphosis:
"myronchiu", both you and I can earn an additional 10% points.
※ Partners who want to participate in the Ethena third quarter airdrop to earn ENA can use my code:
"eu54u"
※ The above content does not constitute investment advice. Users should operate based on their own risk tolerance. Please participate in the investment market with caution, DYOR.
※ Attached images are from the Lendle website and community.
