Larix, at the time of writing, is the largest lending protocol on Solana at $516 million total value locked (TVL) for both borrow and lending. Having adopted a dynamic interest rate model and created more capital-efficient risk management pools, Larix is also considered to be the most secured platform among users. Larix has an arsenal of plans with a broad selection of collateral types with predetermined milestones referred to in their roadmap, namely crypto tokens, stablecoins, synthetic assets, nonfungible tokens (NFTs) and other kinds of assets (account receivables, invoices, mortgages, etc.), all of which can be utilized in a safe and decentralized way. Furthermore, the incentive system based on a delicately designed token economy enables continuous allocations to boost demands.
Since mid-June 2021, Larix has grown its user base to over 300,000 cumulative unique visitors with a growing and strong interactive community on social media. The trust from both the star investors globally and the diversified community stem from the transparency in the financial model and security of Larix. Notably, the interest rate incentives within the protocol, the daily distribution of the platform token and asset pool parameters are all available for the users to monitor in real time.
Larix was the first fully audited lending protocol built on Solana by SlowMist and together with peer reviews by selected partners. On the surface, Larix offers some of the most compelling yields in the decentralized finance (DeFi) lending industry. That being said, users earn attractive returns on the primary assets deposited into the smart protocol and can pledge these as collateral to borrow against. As an added utility, users are rewarded the platform native token, LARIX, at rates depending on which tokens they lend and borrow.
In Phase 1, Larix offers users access to isolated over-collateralized asset pools whereby lenders and borrowers can interact with the protocol. Supported assets are limited to large-cap cryptocurrencies to maintain and secure the stability of the asset pools, namely, Bitcoin (BTC), Ether (ETH), USD Coin (USDC), Tether (USDT), Solana (SOL), mSOL, FTX Token (FTT), Serum (SRM) and Raydium (RAY). In Phase 2, Larix plans to enable higher capital utilization of a wider range of conventional financial assets. At the same time, new features collaborating with multiple partners are in the priority pipeline. In Phase 3, The protocol extends the collateral base to accept NFTs and enable peer-to-peer lending across all asset classes. In general, all valuable assets in our digital wallets should find their places and value propositions as collateral to release liquidity.
The UI design of Larix has a smooth seamless product experience. An original liquidation page was added where users can participate in liquidations once collateral debt thresholds are reached.
Larix is the most liquid of all lending projects and bolsters its degree of integration within the Solana ecosystem by partnering with other related value-added DeFi protocols such as Raydium, ORCA, Tulip and Marinade. As such, LARIX holders can generate further returns by depositing them into interest-bearing platforms hosted by our partners. Larix is one of the fast movers in the industry with monthly updates and developments, keeping their users up to date every step of the way.
The total value locked in the protocol has also grown significantly
According to CoinMarketCap, the LARIX price is trading at $0.068 with a 24-hour trading volume of $1,291,675, at the time of writing. Moreover, LARIX is currently ranked 3,108 in the market.
Due to the dual mining announcement, as well as key events in the past few months such as the Solana hackathon vote campaign followed by the ambassador campaign in the following month, the number of LARIX social media users has skyrocketed from approximately 3,000 to nearly 24,000, representing a significant increase from the previous figure of approximately 30,000.
Furthermore, throughout the bug bounty test and product knowledge education program, the number of users on social media increased to almost 55,000. Finally, the mainnet launch and feedback bounty program helped to increase the number of users to about 75,000 followers. Now, the number of social media users reached 90,000 during the mining live event.
As Larix is gaining widespread ecological support from partners and the community only a month after the mainnet went live, the road is looking very optimistic, and the team, originating from Singapore and Silicon Valley, is inching closer to their vision characterized by strong innovation. In addition to the most exciting new features in Phase 2 such as liquidity provider staking, leveraged yield farming and term loans, Larix aims to incorporate NFT lease/lending, margin loan and more into their model in the future.