The Lendefi protocol will deliver leveraged trading and secured lending to cryptocurrency markets. Utilizing an undercollateralized loan model, Lendefi facilitates a trustless relationship between lender and trader, managed by the protocol to remove counterparty risk.
The launch of Lendefi's testnet is an important milestone for the Lendefi protocol and represents our transition onto the final stretch towards mainnet launch.
We encourage people to go and view Lendefi's testnet here:
https://testnet.lendefi.finance/trade
The launch of our testnet allows Lendefi to stress test the protocol and initiate the User Acceptance Testing. This places the protocol under pressure and identifies possible weaknesses within the codebase. Once the stress testing is complete, we will open a Bug Bounty to reward participants for identifying any weaknesses that have been missed during stress testing.
The User Acceptance Testing will allow Lendefi to gauge how well the protocol is accepted by users. This is important to ensure ease of use and universal accessibility.
We created a form to register for the testing process and were pleased to see a strong response from within the Lendefi community. Unfortunately, it will not be possible for every registrant to participate in the testnet testing. Lendefi is now in the process of contacting the first wave of testers.
Testers will be supplied with feedback forms and test tokens for use during the testing process. The tokens utilized during testing do not hold value but represent the same utility as authentic digital assets.
Although there are a limited number of testers who will be given access to Lendefi's testnet, we are expecting these testers to share their experiences and screenshots with the Lendefi community. This will ensure the wider community remains involved and can comment and provide input during the testing process.
The launch of Lendefi's testnet moves the protocol into the penultimate stage before mainnet launch on the Binance Smart Chain.
The mainnet launch will deliver the Lendefi protocol to the DeFi market and allow leveraged trading for traders while providing lenders with the opportunity to earn interest on digital assets. We have previously covered the value proposition of leveraged trading in our Medium article:
Lendefi: Leveraged Trading Through Undercollateralized Lending (https://medium.com/lendefi/lendefi-leveraged-through-undercollateralized-lending-dd83cfe4d97c)
The opening of Lendefi's testnet represents a significant milestone for the Lendefi protocol. We are pleased to have on-boarded our first testers and we’re excited to see the feedback they will share with the Lendefi community.
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For further information please join our global Telegram group (https://telegram.lendefi.finance), visit our website (https://www.lendefi.finance/), join our Twitter feed (https://twitter.com/lendefi_io) or inspect our GitBook documentation (https://lendefi.gitbook.io/lendefi-finance/).