Lendland HowTo

Before Starting

1. Install your MetaMask wallet plugin. Check MetaMask Instruction from GeneChain documentation.

2. Configure your RPC network.

3. Main Genenet

   • Network Name: GeneChain

   • New RPC URL: https://rpc.genechain.io

   • Chain ID: 80

   • Currency Symbol: RNA

   • Block Explorer URL: https://scan.genechain.io

4. Adenine Testnet

   • Network Name: GeneChain Adenine Testnet

   • New RPC URL: https://rpc-testnet.genechain.io

   • Chain ID: 8080

   • Currency Symbol: tRNA

   • Block Explorer URL: https://scan-testnet.genechain.io

   After preparing the MetaMask wallet and setting up the network, you can start using Lendland.

How to get test assets

1. Get test RNA from faucet: https://faucet.genechain.io

2. Get test VBC, NOVA, LEND, USDT on testnet from Supply window of Lendland app as shown below.

Introduction

Lendland is a Money Market Protocol which establishes money markets with algorithmically set interest rates based on supply and demand, allowing users to frictionlessly exchange the time value of GeneChain assets.

The whole Lendland application is consists of 4 parts.

1. Dashboard - Lendland Dashboard through which you can perform borrowing operations.

2. Markets - Statistical information analysis collected and aggregated by a group of programs.

3. Prices - A summary of the price data automatically updated by the contract based on the prices of Novaswap and external exchanges.

4. Governance - Showing proposals and voting information(Opening soon).

Dashboard

Lendland Dashboard through which you can perform borrowing operations.

Navigation

You can see Navigation part on the top of the page as below.

1. If you are using testnet, you'll get a prompt reminding that you are using the testnet.

2. Switch between different parts of Lendland by clicking Markets, Prices, Dashboard.

3. The button on the right side of the Dashboard shows the balance of LEND tokens you hold. Click this button to pop up the detailed information page, where you can view the amount of unclaimed LEND and claim it here.

1. The last button shows your account address information, if MetaMask is not connected, you can connect by clicking this button.

Data summary area

The Middle of the page is the data summary area where you can see:

1. The total amount of supplys and borrows in USD.

2. The Net APY. The formula to calculate this APY is described below:

   Copy

   # Interest earned through supplying assets
   # Interest paid for borrowing assets
   # Distribution of LEND by supplying and borrowing
   Net APY = Interest earned + Distribution of LEND - Interest paid

3. Borrow Limit, which is your percentage of collateral assets usage. Liquidation occurs if Borrow Balance meets or exceeds Borrow Limit.

   • How Borrow Limit being calculated?

     • Each market has a value called collateral factor(0-1) which is used to specify the percentage of assets that can be used as collateral, so we can calculate the collateral amount for each single market that users participate in by using the collateral factor.

     • Then we can calculate the Borrow Limit through price data and the user's collateral amount of each market.

       Copy

       BorrowLimit = sum(supplyAmount * priceInUSD * collateralFactor)

       About Liquidation

       In Lendland, we have set an upper limit for borrowing, which is limited to 80% of the value of the collateral. When you have borrowed the max value of assets, you can get this Borrow Limit:

We assume that the price of the assets you've borrowed now is increasing 11.1%, your Borrow Limit will become:

At this point, you should reduce your ratio of borrowing ASAP. Once Borrow Limit reaches 100%, liquidation will be triggered.

Tips to avoid being liquidated: 1. Reduce borrowing percentage, keeping below 60% will be safer. 2. Repay the borrowing in time or increase the collateral when the price changes greatly.

Markets area

The main part of Dashboard is Market area, which contains two kinds of markets: Supply Markets, Borrow Markets

1. Every market contains market name, APY, wallet balance information.

2. Collateral of Supply Markets means whether to use the asset as collateral. If disabled, this asset will no longer be used towards your borrowing limit, and can’t be seized in liquidation.

3. Liquidity of Borrow Markets means the USD value of liquidity left in the market.

   Special Instructions: The Lendland market may set a borrowCap value to limit the maximum value of the underlying asset to be lent. If the total borrow amount in the market has reached the value of borrowCap, then even if the supply of assets is sufficient, the remaining liquidity will still be ZERO.

Once the asset is successfully supplied or borrowed, the market you are supplying and borrowing will be displayed on the top of the list.

1. Supplying shows all markets you've supplied. The APY/Earned and supplying balance will also be displayed here.

   • Earned is the underlying asset that you have earned through supplying.

2. Borrowing shows all markets you've borrowed from. The APY/Accrued, % Of Borrow Limit will also be displayed here.

   • Accrued is the borrowing interest that you should repay along with the amount you'v borrowed.

   • % Of Limit refers to the percentage of borrowing amount in this market to the Borrow Limit

Supply Markets

You can deposit your assets to Supply Markets. By clicking every market item, you can Supply/Withdraw your Assets. Assets supplied to a market are represented by an ERC-20 token balance ("eToken"), which entitles the owner to an increasing quantity of the underlying asset.

The above picture is described below:

1. Input box in which you can input an amount you want to supply/withdraw.

2. Supply APY: the supply APY of the market

3. Distribution APY: the APY of LEND Distribution for this supply market if enabled.

4. Borrow Limit summary.

5. Your supplying balance and wallet balance.

Click the Supply/Withdraw button to send transaction through MetaMask, and waiting for trasaction result.

Borrow Markets

You can borrow assets from Borrow Markets. By clicking every market item, you can Borrow/Repay your Assets. Assets borrowed from a market are underlying assets.

1. Input box in which you can input an amount you want to borrow/repay.

2. Borrow APY: the borrow APY of the market.

3. Distribution APY: the APY of LEND Distribution for this borrow market if enabled.

4. Borrow Limit summary.

5. Your borrowing balance and wallet balance.

Click the Borrow/Reapy button to send transaction through MetaMask, and waiting for trasaction result.

Markets

Markets is a data analysis service used to analyze the Lendland markets. The homepage is divided into two parts: Data Overivew and All Markets.

Data Overivew

You can see the following data: 1. Total Supply value in USD and daily change in percentage. 2. Total Borrow value in USD and daily change in percentage. 3. Top 3 Supply and Borrow markets, and the percentage to the total value. 4. volume change in 24h, unique count of Suppliers and Borrowers.

All Markets

All the markets is listed here. You can view the following data: 1. Total supply value of the market in USD. 2. Total borrow value of the market in USD. 3. Supply APY 4. Borrow APY.

Market Details

Click the item you can view the market detail page.

Prices

A Price Oracle maintains the current exchange rate of each supported asset; the Lendland protocol delegates the ability to set the value of assets to a committee which pools prices from the top exchanges. These exchange rates are used to determine borrowing apacity and collateral requirements, and for all functions which require calculating the value equivalent of an account.

You can view the current prices here, along with the daily change of the price.