The upgrade of Mendi Finance will create the first unified liquidity lending protocol, redefining the way cross-chain asset lending works.
Author: Mendi Finance
Translation: Deep Tide TechFlow
The upgrade of Mendi Finance will create the first unified liquidity lending protocol, redefining the way cross-chain asset lending works. The decentralized nature of the blockchain ecosystem has made user experience challenging, especially when dealing with complex cross-chain user interfaces.
“The L2-verse is not like a unified Ethereum” - Vitalik.
55% of liquidity in decentralized finance (DeFi) is locked in Ethereum, while the remaining liquidity is extremely fragmented. Linea, Base, OP, ARB, and Scroll collectively hold about $6.475 billion, but Ethereum's liquidity is still 700% more than their total.
We know that cross-chain interactions require too many operations. Select network, select token, approve amount, input amount. Switch chains, select token, approve amount, then borrow. Introducing more chains complicates this process further.
Security is also a concern, as even the most reliable cross-chain messaging can be hacked.
Wormhole lost user funds of up to $325 million in a hack. Funds stolen due to cross-chain vulnerabilities have exceeded $2.8 billion. So, is there a better solution?
We are launching the first unified liquidity lending protocol with a global ledger that spans Layer 2 and mainnet, utilizing zkCoprocessors for security. To eliminate the risks of inter-chain asset transfers, the protocol uses RiscZero's zkCoprocessor infrastructure to send on-demand messages between blockchains. These messages are verified with Ethereum-level security.
What would this look like for you? With just one click, you can access all assets on supported chains in your wallet and provide them to the protocol to start earning yields. Once an opportunity arises on any chain, simply borrow assets on that chain and seize favorable returns. Supply, borrow, and withdraw operations can be completed on any chain with just a few clicks. Experience dynamic DeFi strategies that can change at any time.
The project's planned roadmap will be released in a few weeks. Stay tuned for a unified future powered by ZK technology.
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