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rphair authored Oct 31, 2023
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109 changes: 109 additions & 0 deletions blog/2023-10-16-october.md
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---
slug: 2023-10-16-october
title: "Lenfi - Lending protocol"
authors:
name: Denicio Bute
title: Community Manager - Cardano Foundation
url: https://github.com/weqanhet
image_url: https://avatars.githubusercontent.com/u/61522394?v=4
tags: [lending, borrowing, defi, lenfi]
description: "In today's interview, we'll explore the world of Lenfi, a decentralised protocol for lending and borrowing which operates without custodial control. Lenfi was built on the Cardano blockchain and we have a special guest joining us, Mantas, the lead developer responsible for this exciting project. So, what exactly is Lenfi and why did they choose Cardano as their platform? Read further to discover these answers and more."
image: https://developers.cardano.org/img/og/og-blog-lenfi.png
---

import ThemedImage from '@theme/ThemedImage';
import useBaseUrl from '@docusaurus/useBaseUrl';

[<ThemedImage
style={{width: '300px'}}
alt="lenfi.io"
sources={{
light: useBaseUrl('/img/devblog/lenfi-light.svg'),
dark: useBaseUrl('/img/devblog/lenfi-dark.svg'),
}}
/>](https://lenfi.io)

In today's interview, we'll explore the world of Lenfi, a decentralised protocol for lending and borrowing which operates without custodial control. Lenfi was built on the Cardano blockchain, and we have a special guest joining us, Mantas, the lead developer responsible for this exciting project. So, what exactly is Lenfi, and why did they choose Cardano as their platform? Read further to discover these answers and more.

Here's an interesting insight. Were you aware that Lenfi enables depositors to offer liquidity? You can deposit your funds with predetermined conditions or in any of the liquidity pools. Let's explore the depths of Lenfi's universe to grasp its tremendous potential.


<!-- truncate -->
<br />

**_Hey, Mantas, happy to connect today and learn more about the Lenfi project. Can you tell us more about the project and the problem you are trying to solve?_**

Lenfi is a lending and borrowing protocol that reinvents popular Ethereum lending protocols using the best of Cardano’s eUTxO model. The project started under the Aada Finance name, launching the first peer-to-peer lending protocol on 13 September 2022. The upcoming pooled lending protocol aims to make Lenfi an all-in-one solution for decentralized loans on Cardano.


<br />

**_Can you introduce yourself and let us know what your role is in Lenfi?_**

My name is Mantas, I am the lead developer of the protocol. My role is to put all the pieces together into a working product.


<br />

**_What are the most important use cases for Lenfi?_**

Undoubtedly, Lenfi’s V1 launch has turned into a pivotal moment for Cardano DeFi. Initially, it allowed users to create loan requests. Later, an additional smart contract introduced “reverse” logic, which allowed lenders to deposit liquidity and offer it to potential borrowers. Thanks to Lenfi’s multi-asset availability, protocol users can take advantage of trading strategies like:
Shorting
Longing
Yield Farming
Earning Interest
With the introduction of the pooled lending version, Lenfi will open new opportunities before DeFi users. Some of them include:
Seamless and trustless borrow and supply features
Permissionless pool creation and ownership
Decentralized batching
Decentralized liquidations for commission-earning


<br />

**_Why did you choose to launch your project on Cardano?_**

The primary reason the team chose to launch on Cardano was the new prospect and agnostic blockchain architecture. In the summer of 2021, Cardano didn’t have smart contracts yet, which offered a great opportunity for everyone who wanted to get a fair start. The few-month gap before the Alonzo hardfork gave me enough time to study eUTxO and its intricacies.


<br />

**_Going forward, how will Lenfi make an impact in the crypto space or on the world at large?_**

So far, we have achieved a general acknowledgement from the Cardano community for our commitment to the principles of decentralization and transparency. Going forward, our best achievement would be to expand our impact beyond our native blockchain and set the trend on a global scale.


<br />

**_Now, what are your accomplishments so far, and what are you most proud of?_**

We were lucky to gather a small but active and sincere community of people with a shared interest - DeFi. It helped us to build the product that users wanted to use. I think we also succeeded in keeping the path we chose and not getting distracted. We are still on this path. I’m also happy that we managed to fulfil all promises and get things done even when there was no clear way how to do it.


<br />

**_Why should people choose Lenfi? What are the advantages over other lending protocols?_**

It's the most decentralised and open-source lending dapp on Cardano. Using Lenfi - you have to trust public code, using competitors you have to trust the people running the protocol.


<br />

**_Does Lenfi have a roadmap? If so, please share it with us and explain what you have achieved so far._**

The closest milestone is launching pooled lending on mainnet.


<br />

**_Tell us about your team. Who are the people behind Adastat?_**

- **Ruslan Soluyanov**: (Product Manager, Cofounder of AdaStat)

- **Mantas Andriuska** is the co-founder and currently one of the two Aiken smart contract developers on the team. He has appeared in several YouTube and Twitter Space interviews regarding the launch and development of the Aada Finance V1 - the first peer-to-peer lending protocol on Cardano.

- **Micah Kendall** is a main Aiken Smart Contract Developer.

- **Lukas Armonas** is a Digital Marketing expert and Project Manager of Lenfi. He has appeared in several interviews and is responsible for the documentation, educational, and marketing part of the project.

- **Ovidijus Dargis** is the Operations Manager responsible for creating and implementing business growth strategies to promote the project. He oversees various business activities like partnerships and public relations.
2 changes: 1 addition & 1 deletion docs/get-started/aiken.md
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Expand Up @@ -44,4 +44,4 @@ These editor integrations are currently available for Aiken:

You are ready now to write and execute your first smart contract on Cardano. Have a look at the [hello world example contract](/docs/smart-contracts/aiken).

Visit the Aiken website and explore [other examples](https://aiken-lang.org/getting-started/vesting).
Visit the Aiken website and explore [other examples](https://aiken-lang.org/example--hello-world).
2 changes: 1 addition & 1 deletion docs/smart-contracts/overview.md
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Expand Up @@ -128,7 +128,7 @@ Of course not all contracts are as complex, requiring the same amount of infrast
Cardano introduced smart contracts in 2021 and now supports the development and deployment of smart contracts using multiple different languages.

:::tip
Writing well-designed smart-contracts require you to have a solid understanding how how Cardano works in general, so make sure that everything on this page makes sense to you before you start creating contracts. Many topics are described in more detail on the [Technical Concepts](/docs/get-started/technical-concepts) page as well.
Writing well-designed smart contracts requires you to have a solid understanding of how Cardano works in general. So, make sure that everything on this page makes sense before you start creating contracts. Many topics are described in more detail on the [Technical Concepts](/docs/get-started/technical-concepts) page as well.
:::

- [Aiken](aiken) - for on-chain validator scripts only: a language & toolchain favouring developer experience.
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4 changes: 2 additions & 2 deletions docusaurus.config.js
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Expand Up @@ -33,9 +33,9 @@ module.exports = {
// id: always change it when changing the announcement
// backgroundColor: use #FD7575 for warnings and #2AA18A for announcements
announcementBar: {
id: "state-of-the-ecosystem-2023", // Any value that will identify this message + increment the number every time to be unique
id: "announcement_index3", // Any value that will identify this message + increment the number every time to be unique
content:
`The <strong>Cardano State of the Developer Ecosystem 2023</strong> survey is out! Your voice matters: please take a few minutes to <a target="_blank" href="https://cardanofoundation.outgrow.us/cardano-developer-ecosystem-survey-2023">participate in the survey</a> 💗.`,
`<strong>Build out the Developer Portal together with us, ⭐️<a target="_blank" rel="noopener noreferrer" href="https://discord.gg/Exe6XmqKDx">join Discord.</a></strong>`,
backgroundColor: "#2AA18A",
textColor: "#FFFFFF", // Use #FFFFFF
isCloseable: true, // Use true
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9 changes: 9 additions & 0 deletions src/data/showcases.js
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Expand Up @@ -1198,6 +1198,15 @@ export const Showcases = [
source: null,
tags: ["wallet", "nftsupport"],
},
{
title: "DROPSPOT",
description:
"Premium NFT-as-a-Service, project advisory & design, minting services, white label services, claim services, loyalty programs, collectible design & development, activations and artist collaborations.",
preview: require("./showcase/dropspot.png"),
website: "https://dropspot.io/",
source: null,
tags: ["marketplace", "nftsupport", "minting"],
},
{
title: "DexHunter",
description:
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1 change: 1 addition & 0 deletions static/img/devblog/lenfi-dark.svg
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1 change: 1 addition & 0 deletions static/img/devblog/lenfi-light.svg
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