Proposal: Add ANGELS as a borrowable and collateral asset to Lenfi

Proposal: Add ANGELS as a borrowable and collateral asset to Lenfi

Proposal Description

Whitelist ANGELS as a borrowable and collateral asset to Lenfi.

Short Summary

Adding ANGELS as a borrowable and collateral asset on Lenfi will give the platform users the chance to engage with Angel Finance’s passive income project.

  • Approve
  • Disapprove
  • Abstain
0 voters

Motivation

1. Project and token overview

Angel Finance is an Angel-themed passive income project on Cardano. It uses various trading techniques, such as liquidity positions, farm yield, lending ADA, trading Cardano Native Tokens (CNTs), participating in Initial Stake Pool Offerings (ISPOs), and trading in traditional markets to acquire funds. The latter are later distributed among the community and team, maximizing investment by taking advantage of lucrative yield farming opportunities.

2. Explain the positioning of the token in the Cardano ecosystem. How will it benefit the protocol?

Integrating ANGELS as a borrowable and collateral asset on Lenfi offers several benefits:

  • Increased Utility: Adding ANGELS to Lenfi will expand its use cases, allowing holders to leverage their tokens for borrowing, lending, and collateral purposes.
  • Enhanced Liquidity: By enabling ANGELS as a collateral asset, more liquidity will flow into Lenfi, fostering a more robust lending and borrowing environment.
  • Passive Income Potential: Lenfi users will have the opportunity to participate in Angel Finance’s passive income project, benefiting from monthly profit distributions.
  • Diversification: ANGELS token provides exposure to a diversified range of Cardano Native Tokens, projects, and yield farming opportunities.

Tokenomics and profit distribution data for ANGELS:

  • Total supply: 496,000 ANGELS
  • Liquidity: 10% allocated for liquidity on the open market
  • ITO: 90% allocated during the Initial Token Offering
  • Monthly profit distribution: 80% of profits distributed to staked ANGELS holders

3. What’s the asset’s utility?

  • Profit Distribution: 80% of all profits made by Angel Finance are distributed monthly to staked ANGELS holders.
  • Exposure to DeFi: Provides exposure to the best tokens, projects, and technology in the Cardano ecosystem.
  • Liquidity and Yield Farming: Funds are used to acquire liquidity positions and participate in yield farming, generating returns for ANGELS holders.
  • Traditional Market Trading: Experienced traders manage funds in traditional markets, further diversifying and hedging investments.

Conclusion

Adding ANGELS as a borrowable and collateral asset on Lenfi will leverage its passive income potential and provide users with new opportunities to engage with the Cardano ecosystem. This integration will enhance Lenfi’s appeal to a broader range of users, showcasing the protocol’s security and efficiency while capitalizing on the diverse investment strategies of Angel Finance.

References

Discord - Angel Finance
X - x.com
Documentation - Welcome to Angel Finance | Angel Paper
Tokenomics - Tokenomics | Angel Paper

1 Like