Airdrops

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Mendi LP

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Mendi LP

MLP & MLP-L: May 15, 2024-Nov 15, 2024

Deposit

Points

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Quick info

Current TVL

Estimated Expenses

From $10

Estimated Rewards

Depends on points earned

Networks

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Networks

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Linea

About Campaign

What Is Mendi?

Mendi is a lending protocol on Linea forked from Compound v2. The project accepts stables, wETH, wBTC, wstETH and LRT. Check out our detailed overview of the protocol here. Do not hesitate, we have added there one bonus investment strategy!

How to Get the Airdrop?

Mendi has two types of points: MLP and MLP-L, distributed as non-monetary tokens. MLP accounts for 83.4% of the total supply and is awarded for borrowing assets and $MENDI staking. MLP-L, comprising 16.6%, is accrued for providing liquidity. Mendi points will be used for reward distribution in the future.

Last updated on 10.06.2024

Supply weETH

easy

One of the most beneficial options in terms of points is weETH lending. Users can just buy weETH on Notum and stake to Mendi to enjoy additional rewards.

  1. If you already have weETH on other networks, bridge it to Linea here;
  2. Go to Mendi weETH lending on Notum and choose any token on Linea you want to swap to weETH. If you already have weETH on Linea, go to the next step;
  3. Click “Deposit”;
  4. Approve the transaction;
  5. Earn Reward APR in $MENDI, MLP-L, LXP-L, Eigenlayer points and 2x Ether.fi loyalty points.

Last updated on 05.06.2024

Recursive weETH lending

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Most of the points come from borrowing initiatives in MLP so to earn more of the tokens, people can just borrow against their assets. To make the process less risky, users can borrow wstETH against their weETH, exchange it to weETH, and again supply it to Mendi. Borrowed funds bring 2.5 times more points compared to lending. With Notum, users don’t spend time exchanging tokens, as swapping takes just 1 click.

  1. Go through all the steps of the previous strategy;
  2. Visit Mendi Finance and click “wstETH” in “Borrow Assets”;
  3. Move the slider to 80% or less and click “Borrow”;
  4. Visit Mendi weETH page on Notum once again and select wstETH as a deposit asset;
  5. Click “Deposit”, wstETH will be automatically converted to weETH and staked on Mendi. Awesome!
  6. Earn 5% APR in $MENDI, MLP-L, MLP, LXP-L, Eigenlayer points and 2x Ether.fi loyalty points.

Last updated on 14.06.2024

$MENDI staking

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Mendi Finance gives >40% rewards to $MENDI stakers. Staking has similar mechanics as asset borrowing: the same amount of money will generate 2.5 times more rewards compared to simple liquidity provision. Note that $MENDI has a redemption period of 7 days.

  • Buy $MENDI;
  • Visit Mendi and choose $uMENDI Staking;
  • Choose the amount;
  • Approve and stake tokens;
  • Earn 10% in $USDC, 16% in $LYNX and MLP points.

Last updated on 05.06.2024

Pros 🤩

  • Engage in various point campaigns;
  • Successfully audited by ScaleBit;
  • Prominent partners (e.g. Renzo);
  • Reliable fork of Compound v2.

Cons ⛔️

  • Necessity to transfer assets to Linea.
  • No external investors;

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We do not facilitate this project and we are not affiliated with it.

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