LeoDex is the first third-party frontend for Chainflip Lending - self-custodial onchain loans for BTC, ETH, SOL, USDC and USDT straight from https://leodex.io/lend.
Supply, Borrow, Repay and Withdraw from Chainflip's Lending Pools
Chainflip lending has been slowly scaling into one of the best onchain lending protocols. For crosschain DEXes, this is a phenomenal achievement.
We all know that DeFi is rebuilding the traditional finance industry. We are doing it one great feature at a time. Chainflip's lending protocol aims to bring a $20T global lending market to onchain finance.
As the world's investors continue to grow their crypto positions, the desire for financial engineering around those positions will grow.
For myself, I have used Bitcoin Lending for years through protocols like MakerDAO. The Problem? Lending on those protocols requires Wrapped Bitcoin (WBTC). You can't lend native onchain BTC.
If you're looking for a native option, your next best thing are companies like Coinbase and the (now defunct) BlockFi's of the world. Bitcoin lending is still a massively untapped market. Chainflip adding it to their protocol is an absolute game changer.
What You Can Do Today with Lending
- Supply BTC, ETH, SOL, USDC, or USDT and earn the pool's interest rate
- Borrow against what you've supplied ā one balance, one screen
- Repay and withdraw back to your own wallet (Bitcoin, Ethereum, or Solana) anytime
- Browse everything ā live rates, the interest-rate curve, pool utilization ā with no wallet connected
Just head to https://leodex.io/lend and explore the markets.
How it Works
- Deposit to your Chainflip account (from your connected wallet, or by address/QR for BTC and SOL) - this is called the "State Chain" and it allows you to interact with the lending protocol
- Supply to a pool - click the supply button next to any pool on the page
- Borrow against it - borrow against your collateral at any time
- Repay / withdraw to your wallet - 1 click to exit
Note the deposit minimums (i.e. $20 for stables, 0.01 ETH) ā our UI tells you before you send
Rates: Chainflip Beats TradFi at 2% APR to Borrow BTC
Rates on Chainflip lending are dynamic. They're set by pool utilization on a kinked curve. We've built a tracker directly at the top the Lending page.
What you see here is the current interest rate for borrowing BTC based on the utilization curve of how much BTC can be borrowed on Chainflip.
What Makes Chainflip Lending Different
There are tons of lending protocols and TradFi apps in the lending space these days. Chainflip sets itself apart in a few very critical ways:
- Supplied funds are collateral ā no more idle crypto. You earn on it
- Everything settles on the Chainflip State Chain; every payout and loan is verifiable onchain (something TradFi can never offer)
- Native BTC ā not wrapped
I've used protocols like MakerDAO for years and the one major breaking point is WBTC. There was a time with the Justin Sun debacle where I thought WBTC might get removed from MakerDAO (in fact, there was a major debate and governance proposals about it). I ended up removing my WBTC position from MakerDAO right before the major rally to $100k+ and this cost me hundreds of thousands of dollars.
Had Chainflip lending been around, I wouldn't have had that issue. I would've been sitting comfy with my native onchain BTC. That isn't to say there's no risk, that's just to say that you don't have the added custodian risk for wrapped assets - which Chainflip has already been successfully solving for years with crosschain native BTC swaps.
So with that in mind, here's a few things to watch out for:
- Lending 2.0 is new protocol territory; start small and stay informed
- Interest rates float with utilization; again - start small and stay informed
- For more info on lending, check out the "FAQ" section at the very bottom of https://leodex.io/lend where we've put a ton of info
Try Lending today: https://leodex.io/lend. If you have any feedback for our team, use the "?" help icon to send feedback directly to us anonymously. It helps us (seriously) improve the site!
10 comments
Sounds tempting, but after all that happened with @leostrategy, do you really think I trust leodex to send my precious bitcoins???
A). this is chainflip, we are just an interface for it
B). leostrategy and leo-everything-else have nothing to do with each other but if you want to conflate everything then don't use it
Who is saying that. One time scammer is always be a scammer. You are just tryign to come back again with the new schemes. That's all.
I have a different memory, I thought at least at some timepoint you have appreciated and endorsed what @leostrategy was doing, before all the scams.
He didn't just endorse. He was a core, leading member, can't remember the exact role, something like ceo. But let's not kid ourselves. Leostrategy was always just a way for khal to go anon to exit a potential shitshow if things turned out like cub...if not to directly scam people
A smart guy :)
I am wondering why still so much people are in the LEO bubble. Although, it is much less than at peak times, right?
Congratulations @leofinance! You have completed the following achievement on the Hive blockchain And have been rewarded with New badge(s)
Your next target is to reach 650 posts.
You can view your badges on your board and compare yourself to others in the Ranking
If you no longer want to receive notifications, reply to this comment with the word
STOPWhat happend with the LEO lending? You didn't able to manage that one even after having community support and you are expecting this one to success when whole community left you because of your scammy behavior. Don't try to fool the investor.
This sounds like a convenient way to access stablecoins while keeping everything in one place. Iām curious to see how the lending feature works in actual use. š
This is very interesting.