Token Generation Event – Lendroid Support Token

The Lendroid Support Token (LST), the ERC20-compatible native token of the protocol, has been envisioned for a three-fold objective – to lubricate processes and drive utility on the protocol; to incentivize participation; and to empower governance.

There are four players on the protocol, two of whom provide utility and two others who avail of these utilities and participate to maximize profits. The Lenders and Traders pay for the essential services of the Relayers and Wranglers.

Since Lendroid is a non-rent-seeking protocol, a user can begin participating on the protocol even without possessing a single token of LST, by providing vital services like monitoring loan lifecycles and margin accounts. While initial parameters will be set by the Lendroid team, the LST has also been envisioned as a vehicle to enable Code upgrades, Network parameters, and Supported assets.


Essential Details


Token Allocation

There are a total of 6,000,000,000 LSTs in all. Total LST available for public sale are 2,400,000,000. The tokens are ERC20 compatible and the accepted currency is ETH.



Vesting Schedule



TGE Economics

Initial public sale price per LST –

We have set a total hard cap of 200,000 ETH. We have opted for a hybrid model, where we intend to raise 100,000 ETH from various investors, at no extra discount. The remaining 50% of available tokens will be retained for the TGE with the wider community.

Pre-Sale

There has been healthy interest from the community in a pre-sale of LST. The total number LSTs we plan to make available for pre-sale is . However, this is subject to revision based on the demand. We also intent to offer a discount of up to 10% for pre-sale contributors. The discount is dependent on the amount contributed.

The cap per contributor during the pre-sale has been set at 4,000 ETH

Public Sale

The public raise will be capped at 100,000 ETH with a 3-day registration for the sale. Based on the number of registrations, the ‘per person’ cap will be fixed. For a more detailed understanding of how this will work –

Say 1,000 people register. The allotted 100,000 ETH will be equally distributed amongst them resulting in a cap of 100 ETH per person. The possible scenarios are –

• On the first day of the token launch, all the 1,000 participate and contribute 100 ETH each, and the token sale ends the same day. This is highly unlikely.

• From the second day onwards, we remove the cap per person and allow the token sale to proceed until the 100,000 ETH is raised. Any tokens not sold will be held back by the foundation and would be used later.