KuCoin AMA With ZeroLend (ZERO) — Comprehensive Approach to L2 Lending and Account Abstraction

Dear KuCoin Users,

Time: May 13, 2024, 11:00 AM - 11:45 AM (UTC)

KuCoin hosted an AMA (Ask-Me-Anything) session featuring the Founder of ZeroLend, Ryker, in the KuCoin Exchange Group.

Official Website: https://zerolend.xyz/

Whitepaper: https://docs.zerolend.xyz/

Follow ZeroLend on Twitter and Discord

Q: With numerous lending markets available, what unique features make ZeroLend stand out from the competition?

Ryker: ZeroLend focused a lot on unlocking liquidity for assets. We see an opportunity in doing lending/borrowing for assets that are native to L2s. Like for example MANTA on the manta chain or the upcoming ZKS token on the zksync chain. We also like to focus on LRTs and ZeroLend is one of the largest protocols where users can lend/borrow their LRTs. Users who supply these assets on the protocol get boosted yields, boosted points, and various incentives that are exclusive on ZeroLend

Q: Which network is experiencing the most rapid growth in terms of user adoption or total value locked (TVL) for ZeroLend?

Ryker: So while ZeroLend's market valuation is just 50mn fully diluted and the circulating valuation is much lesser, our TVL itself is at least three times; Over 150mn as of today.

Our biggest source of growth was on Linea. And we are right now the largest protocol over there.

Q: Can you discuss the Layer 2 solutions ZeroLend supports, highlighting both the successes and challenges you've encountered?

Ryker: Right now the layer 2s are:

- Linea (number one lending protocol)

- zkSync (number one lending protocol)

- Blast (number three lending protocol)

- Manta (number two lending protocol)

- xLayer (number one lending protocol)

Q: Could you explain the veToken model implemented for ZERO, its utility, and the advantages that stakers receive?

Ryker: So, ZeroLend's token model is the first veToken model applied to a lending protocol. Users stake their ZERO tokens anywhere from 2 weeks to 4 years and in return get staking bonuses and rewards in ZERO. This is in line with our philosophy of minimal governance, but applying token utility right away.

Q: Could you share insights on potential future airdrops and your strategy for their distribution?

Ryker: Yeah we all love airdrops! So a few of the biggest ones we expect to receive are:

- Blast

- Linea

- zkSync

- Redstone

Anyone that stakes their ZeroLend token will receive a portion of the airdrops that the team gets. We recently conducted the ZERO token airdrop to over 500,000 wallets out of which more than 50,000 wallets got over 100$ or more. We plan to do bigger and larger airdrops for the community.

Q: How does ZeroLend facilitate lending against real-world assets (RWA)?

Ryker: We're super excited about RWAs. At the moment on ZeroLend you can lend/borrow against your RWA tokens on the Manta Network and we mostly support treasury bills like USDM. But in the future we will allow users to take loans against other kinds of RWAs like real estate or equity etc..

Q: Now that the ZERO token is live, what are the next steps in your roadmap?

Ryker: We have an exciting product announcement that we'd be doing shortly. It is a V2 and it comes with a lot of new features that would make ZeroLend more competitive and capital efficient than any other lending protocol out there. We have a 7-8 month roadmap that we'd be sharing with the community shortly on this regard. But the immediate roadmap for ZeroLend is

- Grow to as many chain as we can

- List as many assets into ZeroLend

- Capture as much as TVL as possible

Q: How does the project plan to sustain long-term value for its token, and what strategies are in place to ensure a steady growth in profitability for token holders?

Ryker: There are a few things that make ZeroLend sustain in the long term.

1. Protocol is already profitable generating over 300k$/mo

2. We are increasing more borrowing on our platform by getting users to work on strategies.

3. We put a heavy emphasis on staking and giving out rewards for people who provide liquidity or stake ZERO tokens

Q: What is the current user adoption rate of ZeroLend, and what strategies are in place to increase it?

Ryker: ZeroLend has been growing consistently for the past 11 months due to its rapid chain expansion and inclusion of new assets. We plan to list on more chains and deploy to more L2s moving forward.

Q: What inspired the creation of ZeroLend, and what problem does it aim to solve in the DeFi space?

Ryker: We initially started ZeroLend to just be another lending protocol on zkSync, but we quickly grew and expanded many new chains and now the goal is to become the largest lending protocol in the space.

Q: Can you elaborate on the concept of Liquid Restaking Tokens (LRTs) and their significance in ZeroLend?

Ryker: ZeroLend is one of the few protocols where users can deposit/borrow against their LRTs. LRTs are a new asset class that just came into the picture not more than a few months ago.

Since most LRTs don't have deposits enabled, ZeroLend enables them to be used as collateral so that users can get liquidity without having to sell their LRTs.

Q: Staking and NFTs are currently trending! Will you consider implementing NFT technology in your future products?

Ryker: Yes ser. NFT lending is coming up pretty soon into the protocol We're super excited for that to happen.

🎁 Participate in the Zerolend AMA quiz now for a chance to win $10 in ZERO!

The form will remain open for five days from publishing this AMA recap.

KuCoin and ZeroLend have prepared a total of $2,000 in ZERO to give away to AMA participants.

1. Pre-AMA activity: $800 in ZERO

2. Free-ask section: $50 in ZERO

3. Flash mini-game: $400 in ZERO

4. Post-AMA quiz: $750 in ZERO

Sign up for a KuCoin account if you haven’t done so yet, and ensure you complete your KYC verification to be eligible for the rewards.

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