Kalend - Next Generation Lending Protocol
Capital Efficient Stability Lending Protocol
We have combined the most popular and successful protocols together to give you the best features with mechanisms built in to protect you from market conditions so your portfolio grows steadily over time regardless of what is happening in the markets.
Features that set us apart
Risk-adjusted borrowing capacity
Kalend uses a risk-adjusted approach that considers both liquidation scenarios where borrower's collateral assets decrease in value and the borrower's liabilities increase in value. In this way, the protocol reduces the amount of bad debts protecting the lender’s assets.
Dynamically adjusted discount rate
Kalend allows the discount to rise as a function of how under-water a position is. This turns a one-shot opportunity into a dutch auction. As the discount slowly increases, each would-be liquidator must decide whether or not to bid for liquidation at the current discount on offer. In this way, borrowers will not get the entire position liquidated.
Dynamically adjusted close factor
Kalend allows liquidators to repay up to the amount needed to bring the underwater position back. As a result, borrowers who are only slightly in violation will have less than half their debts repaid during a liquidation, while borrowers who are heavily in violation will often have more than half their debts repaid during a liquidation.
Stability pool
Kalend allows lenders to support liquidations by providing liquidity to a stability pool associated with each lending pool. This generates additional yields for lenders and reduces the amount of bad debts as it reduces the friction for liquidations.
How our system works
Kalend creates properly functioning lending and borrowing pools for Kadena assets. Each pool has interest rates that are determined by the supply and demand of the underlying asset.
Borrow
Lend
Built on highly efficient L1 - Kadena
Chainweb - Kadena’s Public Blockchain protocol
Chainweb is a braided, parallelized proof-of-work consensus mechanism that improves throughput and scalability while maintaining the security and integrity found in Bitcoin.
Pact - Kadena’s smart contract language
Pact is a human readable and Turing Incomplete smart contract language purpose-built for blockchains with powerful security features including:
Kalend lowers liquidation frictionlessly
Unlike Compound or Aave, Kalend uses a two-sided approach to calculate a borrower’s borrowing capacity. Read our whitepaper to learn more about Kalend’s unique approach.
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