Lendy is a permissionless, on-chain lending protocol built on Celo that enables users to seamlessly borrow and lend stablecoins. By integrating Aave V3 as its primary liquidity source, Lenders deposit stablecoins into Lendy’s smart contracts, earning interest proportional to the protocol’s utilization rate; borrowers supply collateral in supported assets to draw down stablecoin loans at competitive rates.

Lendy’s mission is to democratize access to on-chain credit and yield on Celo by leveraging proven DeFi infrastructure.

Despite Celo’s rapidly growing DeFi ecosystem, developers and users still face fragmented liquidity pools, limited borrowing options, and elevated gas fees when interacting across multiple chains. Stablecoin holders lack a simple, efficient way to earn yield without the complexity and jargon of defi protocols or using custodial services. Conversely, borrowers on Celo have few on-chain credit options, forcing reliance on centralized platforms that compromise on transparency, composability, or self-custody.

Lendy solves these challenges by:

Deep Liquidity Access – Tapping into Aave V3’s ample stablecoin reserves to ensure borrowers can always draw loans and lenders can deposit capital without extreme slippage.

Native Celo Integration – Wrapping and optimizing Aave’s contracts for Celo’s EVM, reducing gas costs and enabling seamless transactions with USDC, USDT currently but with promised support for more in the future,

Transparent Risk Management – Inheriting Aave’s robust oracle-driven collateralization measures and integrating adjustable collateral factors to suit Celo’s asset profiles.

Composable Architecture – Exposing Lendy’s lending pools as composable DeFi primitives, allowing other Celo dApps to build on top of, or integrate with, Lendy’s markets.

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