Mendi
Lending
Mendi is a decentralized lending protocol built on Linea network
Risk Rating
Watch Out
Protocol Code Quality
Protocol Maturity
Protocol Design
Summary
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Information
Exploit/Hacks
None
Info
- Website
- Token: MENDI
- Tags: Lending
Key Metrics
- TVL: $63M (Rank #80)
- TVL Ranking by Lending: #18
- Blockchain: Linea
- Chain TVL
- Linea: $63.02M
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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