Last Updated on December 19, 2022 by cryptocreed
Lend Protocol has hosted its new round of airdrop on the Galxe platform where you can earn free NFT by answering a few simple questions. Lend Protocol airdrop allows you to mint NFT on completing each quiz.
These airdrops are conducted for many rounds and in each round, you can claim free NFT by just simply answering these few questions of the airdrop.
There are 8 sessions but you will get only 1 NFT whether you complete 1,4, or 8 sessions. Those who complete 8 will get a bonus.
How To Join Learn To Lend Airdrop
First, visit their official post to learn how protocol and airdrop work, click here to visit the GitBook page. Now under “Learn To Lend” choose the airdrop number you want to join, and choose the newest number. Under Take The Quiz you will find a google form link click on that.
For example, check the below image.
Submit the answers asked in the form, in the 8th airdrop they will ask you 5 questions and your BSC address. Once you submitted the form visit their Galxe profile here “https://galxe.com/LEND/campaign/GCs21Uws2d” after 2 days to check if you are eligible to receive an airdrop or not.
LearnToLend 01 – Introduction To LEND Defi
Q1) What is the LEND Finance ecosystem?
A DeFi Lending Protocol
Q2) What can the LEND platform be used for?
Lending crypto assets to earn interest, Borrowing crypto against deposited collateral & Earning platform revenue through $LEND Tokens
Q3) What do Lenders get for supplying / depositing assets to the protocol?
Competitively high interest + $LEND tokens as a reward
Q4) What utility do $LEND tokens have?
Can be used to claim a share of ALL revenue generated by the protocol & Governance!
Q5) How can LEND users earn $LEND tokens for free?
All of the above – LEND rewards ALL users with bonus $LEND tokens! We want everyone to have an equal opportunity to share platform revenue.
Q6) How does LEND stand out from other existing competing DeFi protocols?
All of the above – LEND is the best!
Q7) On initial launch LEND will first be available via … (complete the sentence)
BNB Ecosystem
Q8) LEND is a natural extension of the … (complete the sentence)
TEN Finance Ecosystem
Q9) How does LEND keep users safe?
All of the above! – Wow! LEND really cares about user safety & longevity of the platform!
LearnToLend 02 – Discover $LEND Tokens
Q1) What is the $LEND token?
$LEND Tokens are the native reward token for the LEND ecosystem.
Q2) What can $LEND tokens be used for?
All of the above!
Q3) If you’re a LENDER looking to maximise your earnings how do $LEND tokens benefit you?
Lenders can stake/lock $LEND tokens to earn up to 25% of ALL generated protocol revenue as additional passive income.
Q4) How much of all protocol revenue can be earned through staking & Locking $LEND tokens?
$LEND token stakers and lockers are eligible to share 25% of ALL generated protocol revenue from all current chains AND future chains LEND expands to.
Q5) How do LEND users earn $LEND tokens?
All of the above! All LEND users earn $LEND tokens as a reward for using the DAPP.
Q6) What is the circulating supply of $LEND tokens at launch?
14,250,000
Q7) How many LEND tokens allocated for DEV team for the first 2 years?
0
Q8) How do you start earning #RealYield with $LEND tokens?
Supply $LEND tokens -> Get $tLEND -> Lock & Stake $tLEND to earn!
Q9) What happens if $LEND Lockers unlock their locked tLend tokens before 90 days in their term?
Impossible! Unlocking tokens can’t be done!
Q10) What are $LEND tokens the key for?
Unlocking real yield from the LEND ecosystem
LearnToLend 03 – LEND Ecosystem Safety
Q1) Why is safety important for the LEND ecosystem?
To protect user funds and the health & longevity of the LEND ecosystem.
Q2) How do you know the LEND smart contracts are safe to deposit assets into?
All LEND smart contracts have been audited by security experts from PeckShield & d3ploy.
Q3) How does LEND protect Lender’s assets so they can LEND & earn with little risk?
Lender’s are able to lend with little counterparty risk as all borrowers are required to be overcollateralized before taking a loan. Bad debt will get automatically liquidated from the protocol to protect Lender’s original deposits.
Q4) How does LEND protect users from market manipulation?
LEND will only ever support the most liquid assets on the market. This has been done to avoid protocol manipulation that might result in total systemic failure. Doing this prevents the protocol from being exposed to debt that could be easily manipulated.
Q5) Does LEND have any access to your deposited funds?
No LEND has NO access to your deposits – Your funds are exactly that YOURS. Deposits cannot be accessed by any other wallet besides the original depositing address..
Q6) Can LEND be flash loan attacked?
No. LEND has no flash loan functionality so this is not a concern.
Q7) How does LEND protect Borrowers from risk of liquidation?
Borrowing from LEND requires over collateralization. Meaning borrowers are much less likely to get overleveraged and subject to a potential liquidation.
Q8) How will LEND continue to protect users?
All of the above! LEND has got your back!
LearnToLend 04 – Lending Basics
Q1) How does Lending crypto in the LEND ecosystem work ?
Lenders deposit their crypto assets into lending pools, to earn competitively high interest rates
Q2) What will you receive when you supply native assets to the LEND protocol?
You will receive a tToken version of the supplied assets. This allows you to start earning Supply APY & Reward APY!
Q3) What does reward APY % mean?
Bonus interest received directly in $LEND tokens
Q4) What does supply APY % mean?
The base interest received from providing your assets to the pool.
Q5) Which statement is correct ?
Reward APY is not automatically compounded but supply APY is.
Q7) Can lenders lock their tokens provided via the protocol to use them as collateral to borrow against your assets?
Yes, of course!
Q7) When you can withdraw your supplied deposit if it has been used as collateral to create a borrow balance?
Whenever needed once u repay your borrow balance.
Q8) How does LEND protect Lender’s assets so they can LEND & earn with little risk?
Lender’s are able to lend with little counterparty risk as all borrowers are required to be overcollateralized before taking a loan. Bad debt will get automatically liquidated from the protocol to protect Lender’s original deposits.
Q9) What does ‘overcollateralized’ mean?*
Users cannot ever borrow more than they have supplied to the protocol.
LearnToLend 05 – Borrowing Basics
Q1) Who can borrow assets from LEND?
Users that supply tokens to LEND Protocol and allocate them to be used as collateral.
Q2) Do borrowers receive $LEND tokens?
Yes! All activities on the LEND protocol reward bonus APY $LEND tokens.
Q3) What are borrowers required to be when creating a new borrow balance?
Borrowers MUST be overcollateralized when creating any borrows.
Q4) What is a liquidation?
A liquidation is the process where the LEND protocol liquidates borrowers with bad debt to protect the ecosystem health.
Q5) When do liquidations happen?
When borrowers become under-collateralized and account equity goes negative.
Q7) After providing collateral which tokens you can borrow from LEND protocol?
Any tokens available in LEND borrowing markets.
Q7) How much you can borrow from LEND protocol?
Depends on the collateral factor of supplied collateral and borrowed tokens.
Q8) Can $LEND tokens be used as collateral at launch?
No – $LEND tokens can’t be used as collateral at launch.
Q9) What does ‘overcollateralized’ mean?
Users cannot ever borrow more than they have supplied to the protocol.
LearnToLend 06 – Discovering tTokens
Q1) What is a tToken ?
A tToken is the receipt of an asset you receive when you supply it to LEND.
Q2) How do you get tTokens?
tTokens are received when you supply any assets to LEND.
Q3) What do tTokens do once you receive them for supplying assets to LEND?
tTokens start to automatically earn compounded interest as they are used to create borrow balances by other users on the protocol.
Q4) Which tTokens can you stake / lock ?
Only tLend – Received by providing $LEND tokens to the LEND protocol
Q5) When can tTokens be swapped back for the original deposited assets?
At any given time. Providing they are not being used as collateral for an outstanding borrow.
Q6) What do you need to do with tTokens to unlock the ability to borrow from LEND?
tTokens must be allocated as collateral to unlock the borrowing function.
LearnToLend 07 – Revenue Sharing
Q1) What makes LEND stand out against other lending protocols?
Our unique revenue sharing protocol that distributes 50% of ALL revenue back to our ecosystem!
Q2) What tokens are required to start earning protocol revenue?
$LEND Tokens!
Q3) How do $LEND holders become eligible to earn protocol revenue?
Users supply $LEND tokens to receive $tLEND which can be staked or locked to earn protocol revenue.
Q4) How is LEND protocol revenue distributed?
25% to tLend stakers / lockers, 50% to Ten Finance, 25% to Ten Lots holders
Q5) What is the difference between Staking & Locking $tLEND?
Stakers have flexibility to retrieve assets but receive less rewards than Lockers with a fixed 90-day term.
Q6) When can tLend stakers unstake their tLend tokens?
Anytime, however this will forfeit some remaining rewards if unstaked before the end of the 90 day vesting term.
Q7) When can tLend lockers unlock their tLend tokens ?
Only after 90 days of vesting schedule
Q8) If a tLEND staker unstakes tokens before the 90-day term is over, where do the penalty fees go?
100% of all penalty fees go to tLend lockers.
Q9) What tokens do $tLEND stakers & lockers receive as protocol revenue?
In stables (usd pegged like USDT / USDC) – REAL YIELD!
LearnToLend 08 – Protocol Governance
Q1) What is a Protocol Governance?
It’s a voting system where LEND holders have a say in important future decisions.
Q2) Who has the right to vote on governance decisions?
$LEND Holders & $tLEND Stakers/Lockers
Q3) Who can submit proposals to be voted on?
All $LEND Holders & $tLEND Stakers/Lockers
Q4) What is a ‘Core’ proposal?
A proposal submitted directly by the official LEND team.
Q5) What is a ‘Community’ proposal?
A proposal submitted by a member of the LEND community.
