what's Colend?
Colend is a decentralized finance (DeFi) protocol built on the Core blockchain, a Bitcoin sidechain that combines proof-of-work and proof-of-stake mechanisms. It enables users to lend and borrow cryptocurrencies in a non-custodial, transparent, and trustless manner, focusing on Bitcoin Finance (BTCFi) to make Bitcoin a productive asset through lending and staking without impermanent loss risks. The protocol features a unique ve(3,3) governance model, allowing users to influence reward distribution via vote-escrowed tokens. It supports advanced strategies like looping for amplified yields and prioritizes security through comprehensive audits. Anchored by a manifesto emphasizing ethical finance, Colend aims to challenge traditional zero or negative interest rates by fostering positive yields in a resilient ecosystem.
Colend experienced a rapid liquidation cascade from large market sells, clearing most positions.
contract
core
Experienced a rapid liquidation cascade triggered by large market sells, with the vast majority of positions cleared and limited residual exposure remaining in the system.
Stablecoin yields pay 30% APY.
Protocol ranks in top 8 on DefiLlama for yields, offering 16.34% APY on USDT deposits.
SolvBTC.CORE becomes largest asset on protocol amid deepened Core DAO partnership.
WBTC yield farming opportunity announcement scheduled for May 5 livestream with multiple DeFi protocols.
New 5x Sparks multiplier available for WBTC activities through supply, borrowing, and liquidity provision.