LEND is a ERC-20 compatible token that is sold for token sale participants. ETHLend aims to attract future users of the decentralized application by selling LEND tokens that will provide 25% discount on deployment fees on ETHLend, when paid with LEND.

ETHLend wants to deliver a strong token to the market by introducing buybacks for rewarding token holders. ETHLend uses part of the fees on ETHLend to buyback LEND from exchange and burn it. The goal is to remove inefficient LEND that is not used for the DAPP, therefore avoiding price decrease on LEND.

Buybacks decreases the total supply of LEND and increases the percentage of ownership for the token holders. Any value increase against ETH means that less LEND is required when using LEND for paying deployment fees.

Our 24-month vesting plan for the developers supports the aim for delivering a strong token which total supply decreases as ETHLend becomes more popular.

Pre-Sale

2 000 ETH.

Token Sale

37 600 ETH.

Pre-Sale

Pre-sale cap is 60 000 000 LEND (6% of total LEND sold).

Minimum amount to participate: 1 ETH.

Pre-sold tokens are deducted from the 1 000 000 000 LEND sold on official token sale.

Token Sale

Token sale cap is 1 000 000 000 LEND (deducted by pre-sold tokens).

Minimum amount to participate: 0.01 ETH.

No. There will be no further LEND available for sale after Token Sale.

Pre-Sale

Pre-sale ICO starts on 25 September 2017 at 12 GMT.

Pre-sale ICO ends on 25 October 2017 at 23.59 GMT.

Token Sale

Token Sale ICO starts on 25 November 2017 at 12 GTM.

Token Sale ICO ends on 9 December 2017 at 23.59 GTM.

Instructions will be provided few weeks before the token sale.

Pre-Sale

Pre-sale cap is 60 000 000 LEND (6% of total LEND sold).

Token sale price: 1 ETH = 30 000 LEND.

(price includes 20% bonus tokens for all pre-sale participants).

Minimum amount to participate: 1 ETH.

Pre-sold tokens are deducted from the 1 000 000 000 LEND sold on official token sale.

Token Sale

Token sale price:

First 200 000 000 LEND: 27 500 LEND = 1 ETH

(price includes 10% bonus tokens)

Next 100 000 000 LEND: 26 250 LEND = 1 ETH

(price includes 5% bonus tokens)

Remaining LEND: 25 000 LEND = 1 ETH

Token sale cap is 1 000 000 000 LEND (deducted by pre-sold tokens).

Minimum amount to participate: 0.01 ETH.

Ownership of LEND does not entitle rights other than the right to use LEND on ETHLend and a 25% discount on deployment fees when paid with LEND. LEND does not entitle or represent any ownership right or stake, share, obligation, security or any equivalent rights, or any right to receive future revenue of the ETHLend company or foundation, shares, intellectual property rights or any other form of participation in or relating to the ETHLend applications, and/or ETHLend and its affiliates. LEND cannot be refunded and are not intended to be a digital currency, security, commodity, share, derivative, or any other form of financial instrument. Additional details on LEND is found on Token Sale Terms & Conditions few weeks before the token sale.

Buybacks are used to remove inefficient and unused LEND from the market to avoid price decrease on LEND and to strengthen the position of the DAPP users.

Buybacks increase the value of LEND by limiting the total supply of the token and by increasing the percentage of the ownership of token holder’s LEND. Buybacks mean that ETHLend will use part of its fees to buy LEND from exchanges and burn these tokens (erasing the tokens forever).

ETHLend derives cash-flow when loan requests are deployed or funded. These fees are in place to fund the development of decentralized lending on ETHLend. Currently, the fees for deploying a loan request is set to 0.01 ETH, which the borrower pays. Similarly, the lender pays 0.01 ETH for funding the loan (these fees are subject to change).

ETHLend will use flat 5% of these fees to buy LEND from the exchange to burn the LEND. Moreover, additional 1 to 5% is used on top of the flat 5% fee depending on the fee volume growth in ETHLend (compared to previous year’s volume). Therefore, ETHLend can use as much as 10% of the fees for buybacks to increase the value of LEND and the percentage of the ownerships of token holders by decreasing the total supply of LEND permanently. The buybacks start on January 2018. Here is a demonstration of the fees used for buyback:

  1. First year (during 2018) = 5%
  2. 5% + additional 1% if fee revenue is 20% higher than in previous year
  3. 5% + additional 2% if fee revenue is 40% higher than in previous year
  4. 5% + additional 3% if fee revenue is 60% higher than in previous year
  5. 5% + additional 4% if fee revenue is 80% higher than in previous year
  6. 5% + additional 5% if fee revenue is 100% higher than in previous year

Creating more value for the DAPP users. The buyback model provides value to use for holding LEND. Therefore, buybacks motivates to use the token due to the increasing added value effect. When the price of LEND is increasing, the DAPP users can spend less LEND for paying the deployment fees.

Secondarily and indirectly, LEND provides token holders cash-flow. When the percentage of the token holders ownership is increasing, the token holder can sell the increased portion on every burn to realize profit. This makes LEND sought after token.

ETHLend sells maximum amount of 1 billion LEND. Each time the crowdsale smart contract receives ETH, the smart contract mints LEND and send the LEND to the senders address. The maximum cap for minting is 1 billion LEND.

ETHLend aims to raise 40 000 ETH, which 2 500 ETH on pre-sale.

300 000 000 LEND are distributed to ETHLend key personnel and Founders fund.

No additional LEND are minted, ever.

LEND is distributed immediately once ETH is sent to the crowdsale smart contract. This solution provides more security since the crowdsale smart contract mints LEND when ETH is received. Therefore, participants can send smaller amounts to verify whether they have received LEND. Instant distribution is fair since the participants do not need to wait for weeks to access the tokens. Instead once ETH is received, LEND is minted and sent to the participant’s address.

The token sale is performed with the use of Ethereum smart contract. Since all transactions are confirmed on the blockchain, the smart contract is resistant for security threats. The crowdsale smart contract code shall be available on GitHub and the code will be reviewed and audited by third party security auditing service.

The smart contract in itself is simple to avoid complex transactions. The smart contract will have extra security since the tokens are minted only when ETH is send to the address. This means that only way to receive LEND is by sending ETH, making it more resistant to misuse and fraud. Moreover, this gives the participant the opportunity to send a smaller amount of ETH to test whether LEND is received. Therefore, if the token address display is compromised, the loss is limited.

The token sale page shall be held on a DDOS protected environment, on a separate server with writing locks on the token sale page files from the server side. The token sale page will be simple and as static as possible to avoid any complexity. Besides the above, additional security measures are adopted.

ETH will be used to develop further the technology behind the ETHLend.

Below is provided funds allocation:

  • 35% on core development
  • 20% on user experience development
  • 20% on management of ETHLend Foundation or LLC
  • 15% on promotions
  • 10% on unexpected costs

Yes. ETHLend development team and key personnel is bound to 24-month Vesting period. During the vesting period the LEND cannot be sold.

ETHLend introduces the following Vesting model for the core team:

  1. 80% of LEND is locked once Token Sale distribution has ended
  2. 60% of LEND is locked after 6 months from Token Sale distribution
  3. 40% of LEND is locked after 12 months from Token Sale distribution
  4. 20% of LEND is locked after 18 months from Token Sale distribution
  5. 0% of LEND is locked after 24 months from Token Sale distribution

ETHLend will use a multi-signature wallet to store the raised funds.

Yes. LEND can be traded immediately after the token sale. However, the primary use-case for lend is as a discounted ticket for paying ETHLend DAPP deployment fees.

Pre-Sale Starts In

000 days 00 hours 00 minutes 00 seconds

62 500 000 LEND