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ZeroLend Launches on Blast Mainnet with Over $18M in TVL

ZeroLend, a cross-chain lending protocol, has announced its launch on Blast Mainnet, an Ethereum Layer 2 solution that offers native yield and low gas fees. The launch marks a significant milestone for ZeroLend, as it expands its reach to more users and assets across different blockchains.

What is ZeroLend?

ZeroLend is a lending protocol that allows users to deposit supported tokens and earn yield on them. Users can also borrow tokens from the protocol by providing collateral. ZeroLend supports a variety of tokens, including ETH, USDC, USDT, DAI, stETH, and ZERO, the native token of the protocol.

ZeroLend is built on three Layer 2 solutions: zkSync, Manta, and Blast. These solutions enable fast, cheap, and secure transactions on Ethereum, as well as interoperability with other blockchains. ZeroLend claims to have over $68 million in total value locked (TVL) across its three platforms.

What are the benefits of launching on Blast Mainnet?

Blast Mainnet is an Ethereum Layer 2 solution that utilizes optimistic rollups, a scaling technique that batches transactions on a sidechain and periodically submits them to the main chain. Blast Mainnet aims to provide a seamless user experience, high scalability, and low gas fees for decentralized applications (DApps) on Ethereum.

By launching on Blast Mainnet, ZeroLend offers several benefits to its users, such as:

  • 4x yield: Users can earn four times the yield on their deposits compared to other platforms, thanks to Blast’s native yield mechanism that distributes Blast points to users based on their activity.
  • 80% of Blast Developer Points: Users can also earn 80% of the Blast Developer Points, which are tokens that represent a share of the fees generated by the Blast Network. These tokens can be redeemed for ETH or other tokens on the Blast Exchange.
  • Airdrop that goes back to farmers: Users can participate in an airdrop of ZERO tokens that will be distributed proportionally to the users’ deposits on ZeroLend. The airdrop will last until May 2024, when the ZERO token will be officially launched.
  • Blast Gas Fees refund for users: Users can enjoy low gas fees on Blast Mainnet, as well as a refund of the gas fees paid in ETH or other tokens. The refund will be credited to the users’ accounts on ZeroLend within 24 hours.
  • ZERO airdrop to Blast LPs on Zero Gravity: Users can also earn ZERO tokens by providing liquidity to the ZERO/ETH pair on Zero Gravity, a decentralized exchange powered by ZeroLend. The airdrop will reward the liquidity providers based on their share of the pool.

How to use ZeroLend on Blast Mainnet?

To use ZeroLend on Blast Mainnet, users need to follow these steps:

  • Connect their Ethereum wallet (such as MetaMask) to the Blast Mainnet bridge (1).
  • Deposit their tokens from Ethereum to Blast Mainnet using the bridge. The deposit may take up to 15 minutes to confirm.
  • Visit the ZeroLend website and connect their wallet to the protocol.
  • Choose the token they want to deposit or borrow and enter the amount.
  • Confirm the transaction and start earning yield or paying interest.

What are the future plans of ZeroLend?

ZeroLend has ambitious plans for the future, as it aims to become a leading cross-chain lending protocol in the decentralized finance (DeFi) space. Some of the upcoming features and developments include:

  • Launching the ZERO token in May 2024, which will serve as a governance and utility token for the protocol. ZERO holders will be able to vote on proposals, access exclusive features, and receive rewards.
  • Integrating with more Layer 2 solutions and blockchains, such as Polygon, Arbitrum, Optimism, Binance Smart Chain, and Solana, to increase the liquidity and diversity of the protocol.
  • Adding more supported tokens and markets, such as WBTC, LINK, UNI, SUSHI, and NFTs, to cater to the demand and preferences of the users.
  • Developing new products and services, such as flash loans, fixed-rate loans, undercollateralized loans, and credit delegation, to enhance the functionality and innovation of the protocol.

Conclusion

ZeroLend is a lending protocol that leverages the power of Layer 2 solutions and cross-chain interoperability to offer a fast, cheap, and secure lending experience to its users. By launching on Blast Mainnet, ZeroLend provides several incentives and advantages to its users, such as higher yield, lower gas fees, and airdrops. ZeroLend also has a clear roadmap for the future, as it plans to launch its own token, integrate with more platforms, and develop new features. ZeroLend is a promising project that aims to revolutionize the lending market in DeFi.

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