As we continue into 2024, Lendr Network is excited to announce a series of transformative changes to our protocol based on the feedback we have gathered from our early adopters. This redesign marks a significant step forward in our journey to become an industry leader in the field of real world asset (RWA) tokenization.
The primary goals of this protocol redesign are simplicity, clarity, and decentralization. Here’s a glimpse into what we’re planning:
A Renewed Focus
We are taking numerous steps to clarify to new users that Lendr’s purpose is to provide investment diversification on chain through synthetic real world asset tokenization. Our website has undergone a redesign, now with a sharper focus on RWAs, and our documentation will similarly be simplified and updated in the near future.
Single Chain Deployment
We’re transitioning to a single chain deployment model. This change means that users will now collateralize on a single blockchain in order to create our RWA tokens. This change will make understanding our tokens and platform significantly easier for new users, enhancing the overall user experience. Our tokens will still be available on multiple chains:
Bridging Lendr RWA Tokens
Along with our single chain deployment model, we will making Lendr’s RWA tokens available on multiple chains through bridging. Users will simply need to bridge the tokens or purchase them on an appropriate DEX or CEX.
Single Reward Token
In the interest of further simplifying the protocol, Lendr Network will be moving to a single reward token system. Each RWA token will no longer have a separate reward token, instead all of our tokens will use a new Lendr token. The launch of this token will take place some time in the future after other protocol changes are complete.
User Interface Updates
We understand that not everyone using our platform is collateralizing assets, some users simply want to purchase our tokens. To cater to all our users we’re simplifying our UI/UX to include a simpler interface for non-collateralizing users.
Future DAO Ownership
Lendr Network will aim to eventually hand over control of the protocol to a DAO (Decentralized Autonomous Organization). The new reward token will also function as the governance token in this DAO, controlling protocol fees, minting of new reward tokens for new RWA token deployments, and other essential protocol functions. This change will not take place for some time as we want to ensure that the protocol is sufficiently developed before decentralizing.
Emergency Fund
We will also be introducing an emergency fund, controlled by the DAO. This fund is a proactive measure to ensure preparedness for any protocol-related emergencies, reinforcing the platform’s resilience and reliability.
Upcoming Documentation Update
To align with these exciting changes, we will soon update our documentation, providing clear, detailed information to assist our users in understanding these protocol changes. However, because our goal is simplicity and clarity, we expect that many of these changes will be quite intuitive to understand.
These changes are a testament to our commitment to listening to our community and adapting our services to meet their needs. We believe these enhancements will help position Lendr Network at the forefront of the RWA DeFi space, offering a more streamlined, user-friendly, and robust platform.
Stay tuned for more updates as we continue to redefine the future of decentralized finance.
