Good day Lendingblockers,
November has been a very busy month for us and we are excited to share what we have been up to with you!
Platform performance data
The Earning and Borrowing activity growth has been strong for November.
Deposits (non-LND) - MoM growth of 33.38%
Deposits (only LND) - MoM growth of 9.20%
Earning activity - MoM growth of 28.26%
Borrowing activity - MoM growth of 162.36%
We also saw good user growth of 28.42% month-on-month.
A quick word on LND Rewards - as of 1st of December, we had over 263m LND currently staked on our platform, that represents about 26.30% of the total LND supply. We have unlocked the airdropped tokens from October and the locked LNDs for November will be unlocked on the 1st of January 2022.
Anyone who received LND Rewards payout for November will receive an email of breakdown of their airdrop across Earning, Borrowing and staking shortly.
Platform tech update
The primary tech focus for November was building the internal exchange that would allow trading of the LND token.
We are currently in the early stages of testing this relatively large new feature and we want to make sure that it is robust enough before it goes live.
We are still on track for internal exchange release in the middle of December.
In the coming weeks, we will be reworking our marketing pages of the public website - adding new pages for Refer & Earn, Exchange, redesigning the top menu bar, experimenting with new CTA buttons and their placements.
We received some legal clarification around the topic of providing liquidity to Uniswap and how it can provide an exit to the Bilaxy hacker who holds close to 4m LND tokens. After much deliberation, we have the green light to add liquidity to Uniswap once the internal exchange goes live.
As for the CEX listing, we would like to get your opinion on this. We are in talks with a centralised exchange, currently ranked around 50 on CMC, however, we are reconsidering if it would be best to add liquidity and pay for market making on HitBTC (where we’re already listed) instead of paying for the exchange listing on a new exchange.
So the two options are:
1) Pay for a new exchange (approximate rank 50 on CMC)
2) Pay for market making on HitBTC (where we are already listed)
Vote on your option here.
Growth & ecosystem
To encourage growth and spread the word about Lendingblock, we launched the referral program - Refer & Earn - earlier in November! It gives the opportunity for you to get a 25 USDT Earn per referral and give them a 50 USDT Earn as a welcome gift. Learn more about it here.
Lendingblock has been included in the list of winners of Techround 100 2021! We are very pleased to be in the top 100 and we’re grateful to Techround and judges for recognising our efforts in the fintech space. You can read more about this here.
We are also in advanced talks with a handful of reputable crypto marketing agencies. The objective of the marketing campaign would be to acquire new users and spread the word about Lendingblock. We are looking to begin these marketing efforts in January of next year.
We’re proud of the milestones that we completed in November and we are looking forward to sharing the launch of exchange news with you all later this month!