Overview of the Nearlend DAO project- A new lending and borrowing project in the Near Protocol ecosystem

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2022-06-23 16:52:41

Nearlend DAO project

Nearlend DAO project overview

What is the Nearlend DAO project?

Nearlend DAO a DeFi project about Lending and Borrowing built on the Near Protocol ecosystem. The Nearlend DAO project develops open source code to create liquidity pools with algorithmically determined interest rates based on supply and demand.

The Nearlend DAO project connects lenders who want to make a profit on idle money and borrowers who want to use borrowed funds to do production or investment. In addition, the lending platform Nearlend DAO intends to create an NFT-Fi, with the NFT being used as collateral on the Nearlend DAO project.

Special features of the Nearlend DAO project

The Nearlend DAO project develops and builds a place for users to easily access financial services by allowing users to get attractive profits without having to negotiate like the traditional market.

Collateral

The Nearlend DAO project pooled all the lenders’ supply into a pool to create more liquidity and better balance for the ecosystem. Lenders can withdraw their assets at any time without waiting for the debt to come due.

The Nearlend DAO project intends to focus on creating a protocol for all valuable assets including NFTs. Nearlend intends to support NFT as a collateralized asset like cryptocurrency.

Borrowed property

If users wish to borrow assets on Nearlend, they need to accept nToken tokens as collateral, and then with nToken they can borrow any asset present on the platform.

Nearlend DAO only requires borrowers to specify loan assets with no requirement for loan term. Borrowing will be based on real time and interest rates will be adjusted automatically based on market supply and demand. Different assets have different interest rates and are calculated automatically according to market supply and demand.

NFT Marketplace

At the end of 2021, the NFT market was valued at US$41 billion. The Nearlend DAO project believes that NFT will grow even more and has set a strategy in the next 2 years to develop an NFT marketplace that allows users to use NFT as collateral.

Building the NFT lending marketplace will help NFT collectors and investors have benefits such as:

  • Drive instant liquidity and accurate pricing for NFT
  • Diversify investment portfolio
  • Open up a new potential market with other DeFi applications

Governance Knife

Nearlend started out as a protocol with centralized governance and will gradually transform into semi-decentralized governance or a DAO – decentralized governance. The members of the DAO will make high-level decisions regarding the activities and investments of the project. The permissions that members of the DAO can use are:

  • List of new Liquidity Pools
  • Update interest rate model
  • Change the main parameters of the protocol
  • Add or remove protocol functionality
  • Update oracle address
  • Appointment of a new division manager
  • Distribution of revenue from the protocol to members and departments of the DAO.
  • Approving budgets for new projects with financing from the “Reserve & Treasury Fund”
  • Add new permissions for DAO

However, in order to become a member of DAO, users need to hold at least 1% of the total tokens or 1,000,000 NEL tokens. Each member of the DAO has the right to make a proposal and it will be approved if more than 51% of the members agree with the proposal.

Basic information about the project’s Token

Token NEL Key Metric

  • Token Name: Nearlend DAO token
  • Ticker: NEL
  • Blockchain: Near Protocol
  • Token Standard: NEP-20
  • Contract: updating…
  • Token Type: Governance
  • Total Supply: 100,000,000 VND

Token NEL Allocation

Token NEL Allocation
Token NEL Allocation
  • Liquidity Mining: 45%
  • Team & Advisors: 15%
  • Token Sale: 18%
  • Marketing & Partnerships: 11%
  • Liquidity listing: 2%
  • Reserve & Treasury: 9%

Token NEL Use Case

The NEL token of the Nearlend DAO project is a token used for governance, and participates in voting on the development direction of the project.

Nearlend DAO project development roadmap

Roadmap Nearlend Knife
Roadmap Nearlend Knife

Quarter 2 – 2022

Product development

  • Attractive APY profit
  • Use tokens as collateral
  • Loan feature with collateral
  • Loan repayment feature
  • Features of withdrawing collaterals
  • Asset liquidation mechanism
  • Price Feed Integration
  • NFTs can be used as collateral
  • Can borrow capital with NFT

Business Development

  • Formation of the main development team
  • Looking for advisors
  • Looking for potential investors and partners
  • Release the marketing plan
  • Preparing for the Seed Sales round
  • Establishment of a legal entity mechanism

3rd quarter – 2022

Product development

  • NFT withdrawal feature
  • Create liquidity for NFT
  • Comprehensively updated UX/UI
  • Testnet launch
  • Integrated Price Feed for Token/NFT
  • Developing Liquidity mining for the project’s NEL token
  • Token vesting
  • Audited project
  • Betanet launch
  • Released Nearlend DAO NFT

Business Development

  • Notice to investors and partners
  • Engage users in the testnet
  • Released Whitepaper V2.0
  • Statistics of data and feedback from users

Quarter 4 – 2022

Product development

  • Mainnet launch
  • Update the new version for the product

Business Development

  • Airdrop organization
  • Implement a campaign to attract TVL
  • Preparing for Pre-sale
  • Prepare for Public-sale
  • Prepare Liquidity listing

The main investors in the project Nearlend DAO

Nearlend DAO project investors
Nearlend DAO project investors

Overview of the Nearlend DAO project, should Nearlend DAO be used for profit optimization purposes?

The Nearlend DAO project is a lending project on the Near Protocol ecosystem with the intention of using NFT as collateral in the future. However, at present, the Nearlend project has only just begun to develop, there are not too many investors and specific audiences, users have not yet experienced the project, the project team is still anonymous and the time is not yet. token issuance, investors need to carefully monitor and make reasonable decisions in the future.

Through this article, you have somewhat grasped the basic information about the project to make your own investment decisions. CHK is not responsible for any of your investment decisions. Wish you success and make a lot of profit from this potential market

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