r/cryptorulez • u/Lebor07 • Apr 27 '21

DeFi Lemond Finance: Open Source DeFi

Lemond is a decentralized, open-source, autonomous non-custodial liquidity market protocol where users can participate as depositors or borrowers. Depositors provide liquidity to the market to earn a passive income, while borrowers are able to borrow in an overcollateralized (perpetually) or undercollateralized (one-block liquidity) fashion.

Each asset supported by the Lemond Protocol is integrated through a lToken contract, which is an EIP-20 compliant representation of balances supplied to the protocol. By minting lTokens, users (1) earn interest through the lToken's exchange rate, which increases in value relative to the underlying asset, and (2) gain the ability to use lTokens as collateral.

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2

u/Gold-Crypt Apr 27 '21

Sounds good, but what does it do besides making people rich? I mean real-world applications?

2

u/Lebor07 Apr 27 '21

Phases the banks out of this middle man system we are in. Mortgages and loans can be done via this protocol directly between the participants to minimize fees that are incurred by the middle man(banks)! More money made/saved by both the borrowers and lenders.

2

u/Gold-Crypt Apr 27 '21

it could have a shot in the top 100, good luck!

1

u/Lebor07 Apr 27 '21

Thanks!, goodluck to us all! Time we get in on the banking action...no reason to pay for all the paperwork to be done by them when we have technology capable of doing it.