Xend Finance (XF) is a decentralized Credit Union protocol built to optimize, improve
and add value to the core operations of credit unions globally. Xend Finance is
decentralizing savings, lending, borrowing and investment operations of credit unions
as well as providing multi-level interest returns to members of these unions.
Xend Finance (XF) is the first protocol to target this over $2.2 Trillion credit union
global market.
The Xend Finance network has the Xend Token ($XEND) as its native network token.
The Xend Tokens are used to reward users for saving, investing and performing
different operations on the network.
The Xend Tokens also generate interest for the
users as they hold on to the tokens. XendFinance allows Credit Union operations and
Individual saving operations on the smart contract.
XendFinance charges credit unions
a small fee to create a union on the smart contract and a fee per complete save cycle.
The Fee is paid is Xend Tokens, a percentage of the fee is burnt and this causes the
value of the $XEND to increase, hence paying first level of interest to $XEND holders.
The XendFinance smart contract periodically invests user savings(deposits) on DeFi
lending protocols such as Compound, AAVE & Yearn Finance Protocol and this
produces a second level of interest for the users. |
