-> Notification to Lendingblock Customers ->
Lendingblock February 2022 Update
Platform News
Mar 4, 2022

We are pleased to report that February has been our most successful month yet, continuing our strong start to the new year.

Platform Metrics

Users: We now have over 2500 active Lendingblock clients, and welcomed a total of 1600 new people to the Lendingblock family in February. We are currently averaging 67% monthly growth in clients since October, which has us on track to reach 100,000 active users in our first year.

This growth has been driven by the success of our ongoing referral program, which gives a 50 USDT Earn to referred users and 25 USDT Earn to the referrer. If you are not already taking part in this program, we urge you to take advantage by sharing your individual referral code with friends and family. https://app.lendingblock.com/app/settings/referral-program

We have also conducted some analysis on the geographic location of our users, and to date have users from 96 countries. With the ongoing geopolitical situation, it is also timely to emphasise that we do not and will not restrict individual access for people based in Russia or Ukraine.

Deposits: As with user numbers, our assets under management continue to grow at pace, with February setting a new record, and total assets under management breaking the $7m mark. This is particularly pleasing given that BTC and ETH prices continue to move largely sideways.

This month’s deposit breakdown was 40% BTC, 50% ETH, 7% USDT, and 3% LND.

Changes to the monthly airdrop methodology 

From March onwards, we are extending the LND Reward Airdrops to include and incentivise trading activity on the Lendingblock Exchange, in addition to the monthly rewards for Borrowing, Lending, and Staking. 

These monthly reward pools will be split equally, ie 25% for LND Buying, 25% for Staking, 25% for Earning and 25% for Borrowing. Given the reward pool balance is currently 88,573,500 LND of which 10% will be distributed, the LND amount for each pool will be just over 2.2m LND

These changes will commence 1st of March and continue until further notice.