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Decentralized Lending Pool (DLP) Protocol Launched on Testnet — Swap Between Fixed and Variable Rates

Aave DLP key features — What makes it great

  • Instant deposits and withdrawal within the reserves smart contract
  • Instant borrowing from the reserves, with one single, perpetual credit line — no scheduled repayments.
  • Multi-collateral borrowing: users will be able to borrow against multiple collaterals at the same time.
  • Possibility to borrow at either variable or fixed interest rate, and switch between the two options at any time. 🚀
  • Decentralized insurance fund, which will collect a small part of the pool income to cover losses in case of liquidation issues.
  • High granularity in handling different collaterals — Every collateral will have a specific Liquidation Threshold and Loan To Value ratio, which means that riskier collaterals will allow smaller loans and will be liquidated earlier, to ensure the safety of the protocol.

Fixed rate in a pool based lending platform? Whoa!

Fixed rates give the ability to investors to foresee their total exposure in advance, which will allow better investments. But having fixed rates in a pool based protocol is inherently difficult. So how was it implemented?
Selection of the borrow rate mode in the Testnet client

Web interface

To extensively test the protocol a basic User Interface has been developed. Access to the client is for now on a per-invite basis. We are looking for people interested in testing the protocol. If you want to try it out shoot a mail to and we will provide access. Please note that the client is a work in progress, and the tokens listed are not representative of the actual tokens that will be available in the final version. The actual UI/UX of the product will be much simpler and clean, and the tokens listed will be carefully selected after evaluating specific parameters. The primary goal right now is to test the core functionalities of the protocol and to sort out the most glaring bugs, once that is done, access will be made public. If you are interest but don’t know how to test an Ethereum dApp, please check this comprehensive article first.
A sneak peek of the testing client

Documentation, API, ABIs

Documentation of the protocol is available at this link.

And the token ?

LEND token will be natively used in the protocol for governance purposes: you will be able to express your voting power using the token in the pools and decide on strategic governance decisions at the protocol level using your lend token holding.
A detailed article on the governance will follow in the coming weeks to introduce the various governance functions and how pool level voting power is calculated.

Announcing the protocol auditing by Trail of Bits

DLP Protocol will be completely audited and the technology is open source. We are glad to announce that the first iteration of the protocol will be audited by Trail of Bits, who is a world leader in the information security industry, particularly around bytecode analysis of compiled software.

When open source?

Protocol will be released open source once the debugging and auditing of the contracts is completed.

That’s it — Get in touch and start testing!

To discuss the new features, request access or make feature requests, don’t forget to join our Telegram channel, or tweet at us or shoot us an email to — we love to hear your feedback!


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