Lenfi needs more borrowable and collateral assets in order to grow TVL, volume, and protocol fees at a faster rate
Short Summary
Adding STRIKE as a borrowable and collateral asset on Lenfi will give Strike Finance users the option to leverage their tokens for borrowing, lending, and collateral purposes.
- Approve
- Reject
- Abstain
1. Project and token overview
Strike Finance is an open-source and non-custodial derivatives protocol on Cardano. Our mission is to be a leading DeFi platform by being the derivatives protocol that Cardano deserves.
2. Explain the positioning of the token in the Cardano ecosystem. How will it benefit the protocol?
Integrating Strike as a borrowable and collateral asset on Lenfi offers several benefits:
- Increased Utility: Adding Strike to Lenfi will expand its use cases, allowing holders to leverage their tokens for borrowing, lending, and collateral purposes.
- Enhanced Liquidity: By enabling Strike as a collateral asset, more liquidity will flow into Lenfi, fostering a more robust lending and borrowing environment.
Tokenomics
- Total supply 25 million
- Circulating supply 18.00M STRIKE
- Liquidity: Liquidity 1.58M â‚ł
- Team allocation unlocks starting after 6 months with 2 years linear vesting.
3. What’s the asset’s utility?
- Collateral: STRIKE can be used as an additional form of collateral in our forwards and perpetual futures contracts. Using STRIKE as additional collateral offers benefits such as discounted fees and access to higher leverage in perpetual futures contracts. In the event of liquidation, any STRIKE used as collateral will be burned.
- Staking: STRIKE holders can stake their tokens and earn a percentage of protocol fees.
- Governance: STRIKE holders can participate in the protocol’s governance, voting on important decisions such as upgrades, new feature implementations, and changes to fee structures.
- Trading Fees: Holders of STRIKE will have discounted trading fees for using the platform. The discounted fee for STRIKE holders can be stacked on top of the discounted fee when using STRIKE as additional collateral.
Conclusion
Adding Strike will expand its use cases, allowing holders to leverage their tokens for borrowing, lending, and collateral purposes. 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.
