Lendroid is a non-custodial lending engine powering financial services on the Ethereum blockchain.
History
Lendroid is a trust minimized, open protocol on the Ethereum blockchain. Lendroid powers peer to peer loans and lending-based dApps on the blockchain.
There are four key players on the protocol.
- Relayer: Provide off-chain interfaces to interact with the platform as well as manage order books and offer books. They are compensated in LST deposited by Lenders
- Lender: Set the conditions of the loan and provide Dai to be loaned
- Borrower: Receive credit by depositing collateral and LST to act as a bounty for Wranglers in the case of liquidation. The mechanics of borrowing are more or less the same - define terms, create loan contracts, execute - with added layers of authenticating the loan and monitoring its health.
- Wrangler: Monitor the loans off-chain to initiate an auction should collateral fall below the liquidation ratio. Once the auction commences any wrangler can submit a bid to repay a loan and receive a portion of the collateral in return
Fees for matching orders, monitoring loans, topping them up, rolling them over, closing or liquidating – are paid in LST, the native Lendroid token.
