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Live on Ethereum Sepolia testnet
openLend is an overcollateralized lending primitive. Borrowers post collateral and open a rising interest rate curve; the first lender to accept the curve originates the loan at that rate. Each loan is an isolated bilateral arrangement, so another borrower’s underwater position cannot create bad debt for your position. There is no rehypothecation. Liquidations are powered by openOracle: a fully onchain, permissionless, token-backed limit order game for price discovery. openLend and openOracle have no governance, privileged roles, or protocol rent extraction. Both protocols are immutable and cannot be paused.

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DISCLAIMER

The contracts, protocol, and UI are still in the research stage but are on production (“on-chain”) networks so we can test the economic incentives since these are critical to the design.We have worked on the contracts for some time; however, they have not yet been audited. Users should be prepared to lose all funds when interacting with unaudited contracts. Another thing that has not been audited is the game theory and statistics. Users should be aware that even in the case of flawless Solidity code it is highly likely there are math and game theory errors that not only render this endeavor moot but also put user funds at risk. Even if it works, user misconfiguration of either oracle parameters, lend parameters, or trading bots can lead to the loss of funds. If all of the aforementioned is done perfectly, the underlying blockchain can still fail and users can lose funds. Proceed with care.