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Participants
Participants in Lenen can be generally divided into the following four categories, Yield Farmers, Lenders, Borrowers, and Liquidators.
Lenders can earn interest by providing basic assets to the Lenen protocol. The depositor's interest rate is determined based on the lending rate of the USDT fund pool. The higher the lending rate, the higher the interest rate; lenders deposit USDT Mainstream assets other than Lenen will not receive interest rates, reducing mixing risks.
If at any time, the collateral value of the borrower's loan falls below the minimum required collateral, the loan can be liquidated. Anyone can liquidate a loan in a liquidated state without permission. The liquidator repays the loan and receives in exchange the value of the borrowed LP tokens multiplied by the liquidation incentive. The liquidation mechanism helps ensure the stability of the protocol.
Last modified 9mo ago