Hello World! Introducing RooLend.Finance

5 min readJun 26, 2021

Friendly and Simple Leveraged Lending Protocol on Hoo Smart Chain

Welcome to RooLend.Finance! 🦘

RooLend.Finance is the first leveraged lending protocol on Hoo Smart Chain (HSC). Similar to Compound, RooLend is completely based on smart contracts, and all processes are open and transparent. RooLend now supports deposits, borrowing and staking of multiple tokens on the HSC.

Interesting fact: Kangaroo is a common animal in Australia and we believe everyone knows what a kangaroo is. Amazingly, kangaroos can only hop forward, and they cannot do it backward. Just as RooLend is. RooLend will always continue to break through and improve, and never retreat！

Why Do We Need RooLend.Finance? 🤔

What pushed the DeFi fever to a climax was that Compound launched liquidity mining in June last year. Under the DeFi boom, the problems of Ethereum have become prominent. Problems such as high gas fees, network congestion, and TPS performance have long been unable to satisfy many users’ small-amount and high-frequency transaction needs nor support complex applications. The public chain ecology has entered an booming era. The Hoo Smart Chain (HSC), which was officially launched on May 1, 2021, also provides developers and users with more choices. HSC’s low handling fee, high stability and performance ensure a good user experience, and the support for projects will also create a better ecosystem, which is also why RooLend chose HSC.

Lending is the infrastructure and booster of the development of DeFi. Taking advantages of the trend, with the launch of the Hoo Smart Chain (HSC), the decentralized leveraged lending protocol RooLend.Finance seized the opportunity and made a blockbuster landing on HSC, which attracted widespread attention from the community and was given high hopes. It is called the “Compound” in the HSC ecosystem. So, can RooLend live up to expectations and lead the healthy development of HSC ecology, and can it bring new opportunities?

Our Advantages 🔥

Safe

For high-quality DeFi projects, safety always comes the first. This is not only the most concerned issue of users, but also the top priotiy for the RooLend team. The smart contract codes of RooLend have passed the security audity by Fairyproof, a well-know security company in the industry. Besides, the RooLend team has alsoc onducted detailed tests of of the contract codes to ensure the asset security to the greatest extent. RooLend strives to be responsible for users and the healthy development of the DeFi ecosystem, so that everyone can safely mine on RooLend.

2. Multiple ways to participate

1）Yield farmer: Users can earn a higher yield by opening a leveraged position on RooLend.Finance.

2）Lender: Users who prefer stable income can obtain interest income by lending funds to miners. You can deposit base assets into RooLend’s pools to get interests. These assets will be provided to yield farmers for leveraging up their positions.

3）Liquidator: Monitor the pool for underwater positions and liquidating them when they become too risky.

3. Outstanding user experience with high APY

RooLend now supports deposits, borrowing and staking of multiple tokens on the HSC, including BTC, ETH, LTC, BCH, USDT, USDC, DOT, FIL, UNI, LINK, EOS, HOO, TPT, etc. It will continue to enrich the supported tokens in the near futre.

In terms of user experience, it performs even better. Withouth problems such as congestion and high gas fee of Ethereum, the transaction fee of HSC is as low as 0.001 USD, TPS is 500+, and a block is generated in 3 seconds. The operation experience is smoother, and the thredhold of use has been greatly reduced for users with small amount of funds. Because of these, RooLend has gained great attention of the community as soon as it went online. Users only need to pay a small gas fee to perform operations on RooLend and can obtained ROO as mining incentives.

Roadmap 🎢

To ensure the best user experience, RooLend’s services will be launched in sequece:

Lending
IDO
Leveraged Yield Farming

What’s ROO & Tokenomics 🔍

As the platform token, ROO stives to become the main tool to adjust incentive methods, create a strong DeFi community, and promote the development of the RooLend ecosystem.

ROO Distribution

The total amount of ROO is 21 million, each block generates two ROOs, and the generation is reduced by 9% every 30 days. The reduction will stop when it is reduced to 0.2 ROO per block. Tokens are generated alongside the block.

ROO Allocation

RooLend has a very good incentive plan, as 80% of tokens are used for stake and liquidity mining. Now it’s still in the early stage of mining and the return is very good. In addition, 5% are used fo DAO risk reserve+community governance, 5% are for marketing, 3% are for early investors, and 7% are used for the continuous development of the project.

DAO Fund

As a DeFi project, DAO ecological construction and governance are very important. RooLend is also committed to becoming a real community governance project. The community governance function will be launched later to give full play to the spirit of community autonomy. For example, the assets supported will be determined by the vote of DAO organization, and the DAO Fund will also be used to encourage all initiatives or resources that are conducive to ecological development of the project. The team will also keep close to community opinions and feedback, and continue to optimize and improve the product and user experience.

IDO

RooLend will also conduct IDO, and details will be announced in the near future.

5,200 ROOs Airdrop 🌟

In order to repay the enthusiasm of community, RooLend launched a 5,200 ROOs airdrop activity. Three random snapshots will be taken within 72 hours after the official launch. The total amount of deposits and loans will be obtained from each snapshot. After three snapshots, a “ranking airdrop” will be carried out based on each user’s average amount of the total deposit and loan, and a total of 5,200 ROOs will be divided. For details, please visit the airdrop page to learn more.