Outside Source
[PRESS RELEASE – Vietnam, Vietnam, September 24th, 2024]
RENEC Lend, a decentralized finance (DeFi) platform backed by the RENEC Foundation, is excited to announce a limited-time airdrop event for its native token, Relend Token (REL). As the anticipated REL listing on Solana and RENEC decentralized exchanges (DEXs) approaches by the end of September, this airdrop offers an opportunity for users to accumulate REL tokens before they become available to the public.
What is RENEC Lend?
RENEC Lend is an innovative DeFi platform that provides supply/borrow services for tokens and fiat, supported by the RENEC and Solana blockchains. The platform aims to provide users with low borrowing interest rates starting at 5% per year, eliminating the need for traditional financial procedures.
Relend Token (REL) is the native token of the platform, designed to empower holders with a variety of benefits, including governance, staking, and liquidity provision. REL is gaining attention within the DeFi community as it prepares for its DEX listing.
Key Features of Relend Token (REL)
As the listing approaches, REL holders will gain access to several valuable features:
- Governance & Protocol Upgrades: REL holders can participate in decisions regarding protocol upgrades and fee adjustments. By staking a specified amount of REL, users can propose and influence changes within the ecosystem.
- Staking: Holders have the opportunity to stake REL on the RENEC Lend platform.
- Liquidity Provision: By supplying liquidity to REL pools on DEXs, holders can try to earn rewards from pool fees.
- Discounted Borrowing Fees: REL holders are eligible for reduced borrowing fees and lower interest rates.
- Exclusive Programs: REL holders will have access to exclusive liquidity and referral programs.
Readers can learn more about REL’s tokenomics here.
REL Roadmap
Key milestones for Relend Token (REL) include:
- End of September 2024: Official listing on Solana and RENEC DEXs.
- October 2024: Launch of governance features, allowing REL holders to participate in platform upgrades and fee adjustments.
- Borrowing Fee Discounts: REL holders can benefit from reduced borrowing fees and interest rates, optimizing their platform experience.
Airdrop Relend Token (REL)
From September 23 to October 7, 2024 (UTC), RENEC Lend is offering a limited-time airdrop event, where users have the chance to earn an APY of 30% to 60% by supplying SOL, USDT, or USDC. This event offers participants the opportunity to accumulate REL tokens before they become available to the public
Reward Details:
- 60 REL for every 1 USDT supplied over one year (APY up to 60%).
- 60 REL for every 1 USDC supplied over one year (APY up to 60%).
- 30 REL for every 1 SOL supplied over one year (APY up to 30%).
Participation Benefits:
- Daily Rewards: Participants may earn interest on their USDT/USDC/SOL supplies, with additional REL tokens accumulating daily.
- No Supply Limits: There is no cap on the amount participants can supply, with greater supply potentially leading to higher rewards.
- Instant Flexibility: Users can withdraw their USDT/USDC/SOL and accumulated REL rewards at any time.
How to Participate:
- Users can visit the RENEC Lend Dashboard and connect their Solana wallet.
- Supply USDT, USDC, or SOL.
- Users REL rewards will be calculated and credited instantly, with real-time tracking available.
Limited Airdrop Pool
The total airdrop pool is limited, and the event may end earlier if all rewards are claimed. Participants have the option to acquire REL tokens before the token is open to the public.
Post-Supply Benefits:
After supplying tokens, participants also have the opportunity to borrow additional tokens such as USDT or BNB with a loan-to-value (LTV) ratio of up to 75%. With loan interest rates as low as 5% per year and no financial verification required, the platform offers flexible borrowing options perfect for long-term needs.
Holding REL Before the Listing
Acquiring REL before it becomes available to the public can allow users to engage with the token early and participate in the platform’s ecosystem before it is publicly traded
About RENEC Lend
RENEC Lend is a decentralized finance (DeFi) platform offering token and fiat Supply/Borrow services. Backed by the RENEC Foundation and operating on both the RENEC and Solana blockchains, the platform allows users to take advantage of low-interest rates, under 5% annually, while aiming to maximize earnings through reward airdrop events.
For more information, readers can visit:
This article first appeared at CryptoPotato
