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LendrR (LNDRr)
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LendrR Logo
LendrR token (LNDRr) is the secondary "reward token" issued by the lendrUSRE (USRE) protocol. USRE is the Lendr Network US Real Estate Stablecoin. LendrR captures the fee rewards that are generated by the lendrUSRE system and incentivizes early adopters and Frontend Operators.
LNDRr tokens are given as rewards to Stability Providers — i.e. users who deposit USRE to the Stability Pool, and frontends who facilitate those deposits.
LendrR (LNDRr) has a max supply of 100,000,000 tokens. No additional tokens can be minted after deployment.
No. LendrR Token (LNDRr) is not a governance token, as there is no Lendr Network governance. The protocol is controlled by immutable smart contracts.
LendrR Tokens are earned in three ways:
- Providing liquidity to the USRE:ETH Uniswap pool or USRE:BNB PancakeSwap pool.
The Unipool is a staking pool smart contract where you can stake Uniswap v2 USRE/ETH LP tokens (on Binance Smart Chain you can stake PancakeSwap v2 USRE/BNB LP tokens) and be rewarded with LNDRr tokens.
A 6-week Unipool smart contract is deployed at launch which will allow users to stake Uniswap USRE/ETH LP tokens for LNDRr rewards during that time.
Users can withdraw their USRE/ETH LP tokens at any time.
LendrR Token holders can stake their tokens in the LNDRr Staking Pool to earn the fees in USRE and native blockchain tokens generated by loan issuance and USRE redemptions.
At launch, only a small portion of the token's total supply will be available (~40%). The remaining tokens will be locked and will vest over time to various groups. The overall distribution is as follows:
- 17.08% - Team/Advisors (Locked/Vesting)
- 10.31% - Lendr Endowment Fund
- 10.30% - Investors & Partnerships (Locked/Vesting)
- 1.33% - LP Pool Staking Rewards (Locked/Distributed over 6 weeks)
- 0.5% - Social Impact Fund (To assist charitable causes)
The community staking rewards will be distributed over 5 years to Stability Pool stakers. The distribution schedule is explained here.
Investor, team, and advisor tokens will all be locked at launch and will vest over time to their respective owners over 6 months. Pinklock vesting for LendrR ETH can be found here: https://www.pinksale.finance/pinklock/detail/0x886f29b6E0a0461cb5aC6BAF55aE0033CffC48eb?chain=ETH
At deployment tokens are sent to the following addresses:
- Lendr Staking Pool addresses (Stability Pool and Unipool, addresses will be added once deployed)
- Lendr Network Hackathon/Bug Bounty multisig address
- Lendr Network company multisig address
The tokens in the company multisig will be manually distributed to the other necessary addresses (presale, vesting wallets, etc).
For the first launch on the BSC the allocations will be slightly different as a portion of the tokens will be set aside, locked, and vest to previous Altrucoin holders. 33.33% of those tokens will unlock and be airdropped 1 month, 2 months, and 3 months after launch.
This process should complete at the 3-month mark. The other launches besides the first BSC launch will have the standard allocation. Here is the allocation for the first BSC launch:
- 32.0% - Stability Pool Staking Rewards (Locked/Distributed over 5 Years)
- 1.33% - LP Pool Staking Rewards (Locked/Distributed over 6 Months)
- 28.06% - Pinksale Presale/Liquidity
- 26.06% - Altrucoin Holders (Locked and Vesting over 3 Months)
- 8.55% - Lendr Endowment Fund
- 2% - Hackathon/Bounty Fund
This only applies to the first token launch on the BSC. All other launches will follow the previously mentioned distribution.
LendrR Token's community issuance follows a yearly halving schedule, described by the following function:
32,000,000 * (1–0.5^year). The purpose of this issuance curve is to favorably incentivize early adopters while also maintaining incentives for the long term. More information on LNDRr's allocations and vesting will be included in an upcoming medium article.
Last modified 2mo ago