Lendroid is Now on Mainnet. Let’s Build Awesome Stuff Together!

Today, V1 of the Lendroid protocol goes mainnet. This is a proud moment for all of us at Lendroid and also marks a milestone in an exciting journey. We are truly grateful for the steadfast support of our community and the invaluable help and insights from our collaborators.

This is the contract address of the protocol:
0x35042608a9a7b7E3973f4e028Da3394Cf1e7d35C

Protocol features, audits, and our bug bounty program

Here is an overview of what is possible with this version of the protocol:

Order fill + cancel
Loan approval
Fixed interest
Loan pre-closure
Position topup + liquidation
Non-custodial token transfers
Support for ERC20 tokens. Currently DAI and WETH are enabled

The audit certificate of the Lendroid smart contract from Quantstamp can be accessed here.

Besides a robust dev process and full audit, we also believe an active hacker community that discovers hidden bugs, and a bounty program that reflects proper gratitude keeps a smart contract airtight. We invite bounty hunters to our bug bounty program, which follows the OWASP Risk Rating methodology, and offer rewards up to USD 50,000 depending on the severity of the risk(s) identified. To report bugs, you are encouraged to reach out to us at connect@lendroid.com and help provide the following details:

Bug identified
Steps to reproduce the bug
Possible fixes

Alternatively, you can also create an issue on our Github repository. The severity and reward amount will be determined based on the discretion of the Lendroid team.

Figure 1 : OWASP Risk rating methodology

Building on Lendroid as a Keeper — Relayer / Wrangler Tools

As a foundation, Lendroid is an enabler for complex financial instruments on the blockchain. And the solution to filling the vacuum of liquidity, great UX and on-chain efficiency lies in a vibrant keeper ecosystem. Therefore, to make the protocol usable on the mainnet, Relayers and Wranglers must be built on top of the protocol. While there is no restriction to how many Relayers can be built, loans on Lendroid need to be approved by Wranglers.

To become a Relayer on Lendroid, we have tried to make it easy to build on top of the protocol by not only suggesting ideas of possible dApps, but also by strengthening our dev tools, including a full-fledged UI template, which you can simply make your own. Please refer to our comprehensive Relayer guide available here. For ideas on different types of Relayers that can be built, refer here.

To become a Wrangler, please reach out to us via Telegram or send an email to connect@lendroid.com.

Building on Lendroid as a Keeper — Terms & Conditions

Before building on Lendroid, we encourage all potential Keepers to please read the following:

NOTICE:

The Lendroid protocol smart contract and its associated documentation namely lendroid.js (collectively “Lendroid Protocol”) shall only be accessed through authorized channels. Any other means or channels for obtaining the Lendroid Protocol in not recommended. Interested Parties are encouraged to use the following channels to access: Lendroid.com or github.com/lendroidproject. The deployed smart contract is immutable, which means the creator or deployer cannot change or modify it in any manner. This is the nature of blockchain software, and is not particular to this code. The creators of this code have taken diligent efforts to keep it bug free. However, due to the uncertain nature of blockchain software, there might be bugs discovered in the future. The creators or deployers cannot fix these bugs and shall not be held liable for any losses that might be incurred as a result. The Lendroid Protocol is for educational and experimental purposes, and should not be used for commercial purposes. Please seek professional advice before enabling the use of the Lendroid Protocol for commercial reasons.

TERMS:

The complete list of license terms are detailed in our GitHub page here

Please note that any dApp you build must also include the logomark ‘powered by Lendroid’. You can use the following image.

You can access the media/brand asset kit at this link.

Looking Back, and Looking Ahead

Over the last six months, the Lendroid team have made significant progress on the protocol, releasing it first on Kovan. We then released a proof-of-concept dApp called ReloanR, which reflects the capabilities of V1 of the protocol, and acts as a UI template for potential relayers. In the background, while responding to some strong winds in this marketplace, we have also been working on V2 of the protocol.

We look forward to seeing you build on the protocol. Understanding the innate risks, we recommend taking this gently, a smaller number of loans to begin with until the protocol is used to higher transactions. To ease in, the protocol will remain in its current version for the next six months. However, we are hungry for feedback. We will take it all in and implement changes or additions after the next iteration.

Do write to us on vii@lendroid.com for protocol-related inquiries and information. For inquiries related to partnerships and press, please write in to anand@lendroid.com.

Published at Sun, 08 Sep 2019 07:33:56 +0000

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