lease welcome to the first edition of Everlend Monthly Report!
The report consists of two parts: the first one is a short digest of Solana lending ecosystem news, and the second one is devoted to Everlend’s dev news, stats, and community.
Solana lending ecosystem news
Solend
A risk parameters update for several pools.
Crema Finance exploit was conducted using Solend flash loans.
GST deposit and borrow limits increased to 1.5M and 700K respectively.
Issues with the lsIN price oracle caused wrongful liquidations.
A prize of $10,000 USDC for the best Solana Summer Camp Hackathon project built using Solend.
cUSDС vaults on Hedge are live.
Rewards for stSOL have been increased from 80K LDO to 90K LDO.
Max LTV for RAY, GMT, and GST has been reduced.
SLND1 participation reward distribution.
Introduction of two types of fees: interest rate spread and liquidation insurance fees.
SRM deposit limit increased to 1M.
Permissionless Pools announced.
Additional incentives for Coin98 pool.
Permissionless Pools will use Switchboard oracles.
Saber UXD-USDC LP token is listed in the UXD Pool.
Caps have been raised for the USDH pool.
mSOL deposits have increased by 800K since Marinade Finance began its liquidity mining gauges.
Integration with Sentre announced.
Port
Partnership with Amulet Protocol announced.
Larix
Homepage update: now users can access the most popular protocols directly from the homepage.
Strategic relationship with HyperPay announced.
Larix has temporarily suspended deposits and borrowing for the Step Finance isolated pool.
Jet
Product Roadmap for 2022 (and beyond) is published.
Voting on the first on-chain proposal (add USDT as a collateral type on Jet).
Voting on should mSOL be listed as a collateral type on Jet V2.
Apricot
Everlend
Development updates
The most significant update last month was definitely the implementation of the Liquidity Mining Module, which allows Everlend users to track and claim their liquidity mining rewards collected from the supported protocols. In this regard, we published a quick tutorial titled “How to claim LM Rewards on Everlend”.
We are also excited to announce that the security audit by Kudelski of Everlends smart contracts has now been completed. Our development team successfully resolved all the issues that were previously highlighted and we are now more confident than ever to maintain Everlend as secure and as future-proof as it gets. The next steps are to open source the code and announce a bug bounty program in the upcoming weeks.
On the front-end side, we redesigned and launched the new Everlend landing page. Feel free to take a look at an updated roadmap, an introductory video, and loads of info about Everlend & its core features.
Integrations
The integration with Realms was an essential piece to make the interaction with DAOs as seamless as possible and therefore it was highly prioritized by our team. Since July, DAOs that use Realms can deploy their treasury funds to Everlend only within a couple of clicks directly from the governance app.
Everlend aims to be as transparent as possible, and this is why we partnered with Solana FM. Now you can easily track all Everlend transactions — blockchain is the ultimate source of truth!
Stats
Everlend TVL in July was relatively stable in terms of deposited assets quantity. USDC and ETH deposits decreased at the end of July, and BTC, FTT and USDT ones — at the beginning of August, during the Slope hack panic.
Total Everlend TVL in terms of USD value decreased by 29,6%, from $274K to $193K.
In terms of APY we had quite good results. Everlend daily average APYs during July look as follows:
The most exciting result for the team is that Everlend monthly average APY for soBTC, soFTT, and SOL surpassed the respective average APYs of all its integrated protocols! Green, yellow, orange, and red colors in the table below reflect a protocol’s rank, from the highest APY to the lowest one respectively.
Table 1. Monthly average APY per asset (Everlend, Solend, Port, Larix)
Community
We are proud to announce a collaboration with Dean’s List, a Grape Protocol sub-DAO. These guys are adding a lot of value to Everlend’s UX/UI — stay tuned for more updates! Feel free to join this UX/UI research and share your thoughts on our Discord — your feedback is precious (and could be rewarded).
In July the Everlend team had one interview on HodlersHub, an AMA session with Mean Finance, and another one with NXDF. More Discord AMAs and Twitter spaces are on the way.
A couple of Everlend community members participated in a poker contest — congrats to @Cherry for winning the tournament!
After the poker contest, there was a Poll about the “Game Night” event, and we found out that most people that took the poll don’t know how to play poker, but they also indicated that they are willing to learn. We decided to have a different game all together, so a new Game Night is in the pipeline!
That’s all for July, thanks for reading and being a part of the Everlend community. Join us on our social media channels and stay tuned for more updates in the upcoming weeks!