Proposal: Add $GENS to Lenfi as a borrowable/lendable asset

Graveyard
1

Proposal: Add GENS token to Lenfi

Short Summary

GENS tokens are the native tokens of the Genius Yield Protocol.

  • Approve
  • Disapprove
0 voters

Motivation

I am a Lenfi Community member and GENS token holder who would like to have the [GENS] token added to Lenfi as an asset for lending/borrowing.

Project and token overview
Genius Yield is moving forward with its protocol, and as the project goals on the roadmap are hit, we could see a significant increase in demand for the GENS token.

Genius Yield is designed to address the complexity of navigating yield opportunities in DeFi. The Genius Yield team’s mission is to democratize DeFi for everyone by providing best-in-class automated liquidity management, powered by AI.

By adding GENS as a borrowable/lendable asset, Lenfi will benefit from a new TVL stream. Plus, Lenfi could attract new users from the Genius Yield ecosystem.

GENS token utility

  • Governance token
  • Genius Yield ecosystem rewards (DEX platform fees & Yield) Optimizer fees go to GENS stakers)

Token data

  • Tokenomics: Tokenomics - genius yield
  • Current circulating supply: 25.7M (source: Taptools)
  • Total supply: 100M
  • Exchanges & Pools (in ADA): ViFi 560K, Minswap-500K, Wingriders-110K
  • Genius Yield currently has over 18M ADA in locked staking

Conclusion
By adding GENS as a borrowable/lendable asset, Lenfi will benefit from a new TVL stream. Plus, Lenfi could attract new users from the Genius Yield ecosystem.

References

Communities

4 Likes