You can read our previous report here to see the progress we have made.
Note on Expired Pools/Soon to Expire
As a reminder, if you are a lender and your pool has expired, please be sure to collect your capital, interest and any defaults! As a borrower, make sure to repay any loans that are soon to expire. Defaulting is always a choice, but if you wish to receive all of your collateral back, you must repay the total loan + all interest due!
Newly Supported Tokens
The following tokens have been added which can be used as both collateral and lend tokens:
We are working on adding many more supported tokens, also recommendations by the community are being considered. Please feel free to recommend any tokens in our Discord (link found below).
V2 Contract Audits
We have successfully completed an audit of our V2 contracts with Zellic! we are very excited to bring these updates to you all and are working hard to launch these by the end of April. Through our new V2 contracts Vendor users will be able to take advantage of strategies that make use of their unborrowed funds. This will improve capital efficiency and provide incentives for lenders. You can read more about strategies in our Medium post covering them.
Along with strategies we have also introduced the ability to deposit funds into pools during deployment. This will reduce the process of creating a pool down to one step, thus creating an even easier experience for our users.
Mainnet Launch 🎊
Vendor Finance is officially available on Ethereum Mainnet! This launch was done through a partnership with Olympus DAO (more details below). The following tokens are available as both collateral and lend tokens:
- And Many More!
This marks our first official launch on another chain and will give us access to a much larger market. We are currently looking for more partners that could benefit from liquidation-free lending in one of the largest markets in DeFi. If you or someone you know would like to get started with lending Ethereum Mainnet, please feel free to reach out to us.
The Olympus DAO proposal mentioned in our previous progress report has successfully gone through! Olympus DAO is now lending out $500k from their treasury against their gOHM token. Since it’s initial launch, the pools utilization has hovered between 95% and 100%. This has been a great experience for us as well as Olympus DAO.
- Community tweets:
That’s all for now! We look forward to the next update! You can read more about how the protocol will work in our documentation which you can find here: Docs. Please feel free to follow us on Twitter and join our Discord for any question and to receive more updates in the near future!