LayerBank V1: Empowering Users in the Decentralized Lending Space
LayerBank V1, built on ConsenSys' zkEVM technology, brings simplicity and transparency to decentralized finance (DeFi). This non-custodial lending protocol operates on the Linea blockchain, offering users control over their assets and eliminating intermediaries.
Key Features
LayerBank V1’s tokenomics center around the $LAB token and offer compelling benefits:
1. Yield Boosting: Users' APR increases based on their $LAB token stake.
2. Revenue Sharing: Weekly distribution of platform fees to $LAB stakers.
3. Automatic Buyback and Burn: Buying back $LAB tokens when users claim platform fee shares, with most revenue allocated to token burning.
These features ensure the long-term growth and success of the platform.
Lending on LayerBank
LayerBank's lending model is based on over-collateralization, enabling users to supply assets, borrow funds, and earn $LAB tokens as rewards. Supplying liquidity earns users lTokens representing their share of the loan pool, growing in value over time due to accrued interest.
Liquidation and Max LTV
Liquidation occurs when collateral value falls below the borrowed amount. A liquidation penalty, equivalent to 15% of collateralized assets, is distributed to $LAB stakers weekly. A higher stake results in a greater share of the reward.
Official Bridge
https://bridge.linea.build/
Third-party bridges
C.Bridge: https://cbridge.celer.network/1/56/USDC
Pheasant Network: https://pheasant.network/
Orbiter: https://www.orbiter.finance/?source=Ethereum&dest=Arbitrum
XY Finance: https://app.xy.finance/
Learn about LayerBank:
Revolutionary lending protocol for EVM rollups, reshaping #DeFi! 🌐
For more info:
🌐 Website: lineabank.finance
💬 Discord: discord.gg/lineabank
📜 Docs: docs.lineabank.finance
Parameters
Parameters like Max LTV and Liquidation Threshold vary and depend on DAO decisions and circumstances.
Locker
Users can lock $LAB tokens for up to a year, receiving benefits based on their xLAB score. Benefits include Yield Boost (up to 3x), a share of platform fees, and $LAB staking rewards, incentivizing user participation.
Protocol Revenue Sharing
LayerBank earns revenue from borrower interest fees, liquidation penalties, and platform revenue share claims. This revenue is predominantly directed to buy back and burn $LAB tokens, creating a strong demand and upward pressure on token prices.
LayerBank V1's transparent, user-centric approach to DeFi lending distinguishes it in the market, promising long-term sustainability and benefits for the community.
