🚀Value Accrual
The LENDS token is designed with multiple value-boosting mechanisms to reflect the protocol's growth and ensure long-term incentives for LENDS holders.
Key Features
Long-term Retention: By locking their LEND tokens, holders can access additional revenue generated from lending to specific vaults or loan pools, fostering long-term commitment to the protocol.
Increased Governance Power: As the Lends Protocol expands, the governance power of the LEND token becomes increasingly valuable, driving demand for the token as users actively participate in crucial decision-making processes.
Rewarding Fee Rebate System: LENDS holders benefit from the protocol's fee rebate system, as a portion of collected fees is allocated to reward active participants, or "stakers". This positive feedback loop ensures that the protocol's successful growth directly benefits LENDS token holders.
Ongoing Development: As the protocol evolves and introduces new features, LENDS holders may enjoy additional value-building mechanisms, further enhancing the token's appeal to investors.
Steps to Stake LENDS Tokens:
To benefit from the various value accrual methods, users must participate in the following locking mechanisms involving LENDS Protocol and its LENDS token:
1. Connect Your Wallet:
Connect the wallet holding your LENDS tokens. For instance, if you're using xDeFi, you'll see the interface after connecting your wallet.
2. View Your Position:
If you have an active position, you can view details such as the amount staked, your voting power, and the initiation date of your stake. Initially, you may not have any claimable rewards, but you can claim them using the provided button once available.
3. Stake Your LENDS:
To stake your LENDS tokens, enter the amount you wish to stake (e.g., 5000 LENDS). The interface will display projected earnings and APY over various time periods (yearly, monthly, weekly, and daily), along with the exchange rate and the amount of xLENDS you will receive.
4. Lock Period:
Note that the current lock period is 30 days. This period and the APY might change in the future, so always refer to the latest information. During the lock period, you cannot withdraw or unstake your tokens.
5. Confirm Your Stake:
To finalize your staking, click on the stake button, approve the transaction in your xDeFi wallet, and your LENDS tokens will be staked.
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