-> Notification to Lendingblock Customers ->
Lendingblock May 2022 Update
Platform News
Jun 3, 2022

Platform performance 

We’ve had continued user growth in May, with the total number of active Earners and Borrowers now over 7600. Deposits continued to climb, with BTC continuing to be the dominant asset on the platform.

UST de-peg 

As many of you might be aware, UST (an algorithmic stablecoin that tried to have its value pegged to USD) de-pegged earlier this month, causing significant losses. For the avoidance of doubt, unlike some of our peers, Lendingblock has never had any positions in UST nor Terra (LUNA) and we had no involvement of any kind in Terra’s ecosystem before, during or after the de-peg. 

SEO improvements, site changes and growing organically 

We have continued to improve our website and generate new content during May to achieve higher scores for SEO purposes. If you have missed it, we’ve pushed out some pieces that talk about the basics of crypto lending and crypto borrowing. We will continue to generate SEO focused articles and spread the knowledge in the coming weeks. 

Ever since we launched the retail crypto lending & borrowing platform, we have been in contact with crypto interest listing sites with the intention of listing our juicy rates there. Our outreach has received mixed reception (understandably to an extent, being the new kid on the block when it comes to offering crypto yield services to individuals), however, we are continuing to have conversations with key rates comparison websites and we are keen to see results shortly. 

Copper.co announcement 

We have been working with Copper (leading crypto custody provider) ever since we launched Lendingblock retail and earlier in May, we made our partnership public. You can find the announcement here