What Is LENA?
LENA – Lending and Earning on Non-fungible Assets, is the newest Web3 liquidity provider that facilitates decentralized and permission-less borrowing and lending of all NFT collections, while offering ETH liquidity pools for staking rewards, borrowing lending and more. Empowering user autonomy and transparency is at the forefront of our design philosophy, as we offer services which span across all Web3 assets.
LENA Unique Features
NFT Vesting/Borrowing
On the LENA Network, when you vest your NFT with us, you may take out a loan and receive ETH, the amount of which is dependent on the utilisation rate of the lending pool, and the floor price of your NFT.
Lending
When lending ETH, your ETH goes into a common lending pool, which will act as the liquidity for the aforementioned NFT loans. The interest rate that the borrower pays then gets passed onto you, the lender, with a small transaction fee charged by the LENA Network.
Roadmap
2022 Q3
- Launch of LENA Network testnet
- Start of LENA Pre-TGE Point Drop (Fair Launch) Event
- Fund raise for Series A of LENA Network
- Announce platform prime liquidity provider line-up
2022 Q4
- Receive Preliminary code audit report
- Official oracle launch on mainnet
- Gated access to mainnet private alpha launch
- Launch of LENA Community Security Bounty Program
- Launch of LENA Network Mainnet Public Access
- Enable NFT Collateral on bluechip NFT
- CryptoPunks
- Bored Ape Yacht Club
- Mutant Ape Yacht Club
- Meebits
- Sandbox LAND
- ETH lending vault goes live
- LENA Token Launchpad and IDO details release
2023 Q1
- LENA Token Launchpad and IDO drop
- LENA Token Generation Event
- Conclude of Fair Launch event and TGE token conversion
- DEX Listing and LENA/ETH liquidity reward pool launch
- LENA vesting and LENA governance vesting reward goes live
- Target TVL of 10,000 ETH
- Tier 2 CEX listing
- Chainlink partnership and additional solutions for additional dedicated price feed, increasing robustness of price feed data
- Enable token governance portal and create the first community voted protocol decision
- Receive final report for code audit
2023 Q2
- Execute the first LENA buyback, using 100% of the revenue generated from Interest Rate Spread, Liquidation
- Integrate insurance coverage (eg: NexusMutual)
- Additional CEX listing, with Tier 1 exchange included
- Target TVL of 20,000 ETH
- Add multi-language support for front-end UI
- Start developing LENA v2
2023 Q3
- Complete code audit of v2
- Launch of LENA Network v2 (Phase 1)
- Introduction of LENA Marketplace
- Enable MorFT trading of NFT & lendNFT positions (Margin Trading NFT)
- Marketing campaign and trading bonus for LENA marketplace
- MorFT trading competition – a unique margin trading competition on NFT, aim to educate users on MorFT and gain traction
2023 Q4
- Launch of LENA Network v2 (Phase 2)
- Introduce Permissionless Market, enabling non-bluechip NFTs to be listed on LENA Network
- Launch of LENA Network Insurance Fund, further securing the protocol from market risk
- Target to list introduce and onboard >50 NFT series on the LENA Network NFT pool, NFT series owner will lock LENA into bootstrap insurance fund in return for listing the NFT
- Launch of NFT Risk Tranche, categorizing NFT depending on risk and charging volatility fee for listing high risk NFT
- Introduce volatility fee distribution to LENA stakers, insurance fund and ETH liquidity provider
- Partnership with NFT projects / DeFi protocol on spot delivered NFT margin trading MorFT
2024 Q1
- Introduce NFT Fractionalization Toolkit
- Introduce fractional NFT trading
- Introduce NFT lending options, allow users to rent NFT (eg: LAND)
- Zero-knowledge NFT over the counter trade on LENA marketplace
- Target TVL of 50,000 ETH and 3% market share on NFT trading volume
- Launch LENA to the moon 🙂
Token economy
LENA will serve as the token for protocol governance, which the community can drive key parameter changes that will directly impact the growth and revenue of the protocol.
Utilities
- Protocol Revenue Share
- Interest Rate Premium
- Liquidation Fee
- Volatility Risk Premium
- Insurance Pool
- Insurance Bootstrapping
- Governance Right
Detailed Token Metrics
TBA
Token Distribution
The LENA Network has a fair and sustainable supply schedule, with up to 48 months vesting and emission to liquidity providers, users, and most importantly our long term supporters which vests $LENA in the governance portal.
Token Distribution
| Borrow & Lending Incentive |
30% |
Linear over 36 months |
This tranche of tokens will be distributed to users of the platform, including ETH lenders and borrowers |
| Retroactive Airdrop |
2% |
Unlocked at TGE |
Airdropped to users before our v2 permissionless market launch |
| Token LP |
13% |
20% Unlocked at TGE
80% Linear over 36 months |
Incentives to liquidity providers of LENA/USD, LENA/ETH DEX pairs, and to bootstrap liquidity on centralized exchanges |
| Initial Liquidity Offering |
5% |
Unlocked at TGE |
Initial token offering through Launchpad, the liquidity raised will be used to bootstrap the ETH lending pool on the platform |
| Token Vesting Incentives |
10% |
Linear over 36 months |
In addition to platform revenue share, this tranche will serve as an extra incentive for users to vest tokens |
| Treasury |
10% |
20% unlocked at TGE
80% linear over 36 months |
Project treasury for funding operations, marketing |
| Founding Team |
15% |
Linear over 30 months, 6 months cliff |
Token share for the founding team member’s development effort |
| Seed Investors |
15% |
|
|
Token Release Schedule
TBA
Partners & Advisors
TBA
Team
TBA
Investors
TBA
