What is Mendi Finance & Why Are We Launching on Linea?
Mendi Finance is decentralized lending protocol that aims to be the go-to native lending protocol on the Linea blockchain. The protocol is based on a unique tokenomics that builds upon Velocore’s bribing mechanism to ensure high incentives are distributed to the community. Mendi will distribute 80% if its revenue with stakers as a staking yield in the first 3 months, increasing to 100% after that period. Stakers will also have the option to receive staking rewards either in the Mendi token $MENDI, or in USDC because we believe users should be free to choose the option that suits them the best.
20% of our emissions are used as bribes on Velocore to encourage the protocols community to vote for the MENDI-USDC liquidity pool. The rewards generated by the liquidity pool will be used exclusively to reward the stakers of the Mendi protocol.
The rest of our emissions will incentivize early adopters of the protocol. 70% of the emissions will reward borrowing assets from the protocol to ensure a high utilization of the protocol. The rest of the emissions will be used as supply incentives.
Last updated
