Candidate Proposal: Mendi Finance
Introduction
Mendi Finance is an EVM-driven lending and borrowing protocol built on Linea. It aims to create a transparent and efficient marketplace for users to lend and borrow crypto assets. Mendi’s core design focuses on over-collateralized lending with a tried and tested system.
Contact Information
Team Contact: Barna
Title/Position: Co-Founder
Email: info@mendi.finance
Links
Website: https://mendi.finance/
Documentation: https://docs.mendi.finance/
Twitter: x.com
Discord: Mendi Finance
Value Proposition
Part of the Mendi core offering aims to provide the highest competitive incentives for money markets, having the deepest liquidity and being a lending market that is truly native to Linea.
The end goal for Mendi Finance is to offer an enhanced user experience and simplified trading strategies powered by the Mendi Finance protocol. The main objective in deploying on Linea was to utilize the offering of the L2 being near instant transaction finality and providing a near equivalent experience to that of a typical EVM chain like Ethereum.
Mendi facilitates the development of the LRT ecosystem on Linea as a byproduct of its protocol design and phenomenal user experience. This simplifies understanding of what users look to gain when utilizing Mendi and what is needed in this process.
Security
Mendi Finance has been audited by ScaleBit; see the audit here. Mendi Finance is a fork of Compound V2 and thus derives security from it. Compound V2 is a battle-tested, heavily audited, and formally verified lending protocol.
Mendi Finance also relies on HyperNative, an on-chain monitoring tool that enables automated on-chain actions to prevent hacks and protect user funds. HyperNative utilizes Artificial Intelligence to monitor on-chain activities and flag malicious actors.
Fundraising
Mendi Finance is currently bootstrapped and has yet to conduct any fundraising rounds.
Synergy with Mitosis and EOL
Mendi Finance aims to onboard EOL to Linea. EOL can serve as a source of liquidity for Mendi to help prompt increased growth. In addition, Mendi begins to gain exposure to the Mitosis community, which has deposited into EOL on Linea, and thus looks to support the growth of Linea protocols.
By providing an opportunity for EOL, Mendi begins to put yield into the hands of the EOL depositors, beginning to tie itself to EOL and bringing about further alignment between EOL and Mendi.
This will continue to yield more benefits for Mendi as more assets are added to EOL. Engaging with the community and EOL now creates stronger incentive alignment and more familiarity for the depositors of EOL.
Conclusion
Mendi Finance is excited about the opportunity to join the EOL community. Our protocol’s focus on security, efficiency, and user experience aligns well with Mitosis’s goals. Mendi joining EOL can create significant value for both communities.
