Mendi

Lending

Mendi is a decentralized lending protocol built on Linea network

Risk Rating
Watch Out
Protocol Code Quality
Protocol Maturity
Protocol Design
What is Mendi?

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Information
Exploit/Hacks
None
Info
  • Website
  • Token: MENDI
  • Tags: Lending
Key Metrics
  • TVL: $64.2M (Rank #111)
  • TVL Ranking by Lending: #24
  • Blockchain: Linea
  • Chain TVL
    • Linea: $64.18M
Risk Assessment
Watch Out
Protocol Code Quality
  • Code reviewed by at least one experienced auditor; ScaleBit
  • Public team promotes accountability
  • No documented protocol hacks since launch
Protocol Maturity
  • No death spiral concerns
  • Robust controls to mitigate oracle price manipulation
  • Cross-collateral markets are exposed to systemic risks as each asset creates incremental risks for the platform as a whole
  • Basic controls in place to prevent risky borrowing
  • Basic mechanisms in place to incentivize liquidations
  • Solid methods to accrue protocol reserves
Protocol Design
  • Latest protocol version launched in 2023; maturity over six months reduces technical risk as smart contracts are moderately battle-tested
  • Top 20% by total value locked slightly reduces risk
  • Multisig wallet controls protocol upgrades
  • Multisig consists of at least 4 signers, which means the protocol is less susceptible to centralization risks
  • No timelock exists or no information documented, which mean a malicious actor could approve upgrades without any delay
  • At least one minor governance issue documented
  • Low voting power concentration reduces risk
Things to know about Mendi

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Mendi Pools
Mendi ETH Lending
0.9%
Yield
$19M
TVL
Risk
C
Protocol
Mendi
Chain
Linea
Mendi BTC Lending
1.2%
Yield
$6M
TVL
Risk
C
Protocol
Mendi
Chain
Linea
Mendi ETH Lending
1.7%
Yield
$4M
TVL
Risk
C
Protocol
Mendi
Chain
Linea
Mendi USD Lending
7.5%
Yield
$600K
TVL
Risk
C
Protocol
Mendi
Chain
Linea

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