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RENEC Lend Launches Airdrop for Relend Token

Discover the limited-time airdrop event by RENEC Lend for its native Relend Token (REL) and explore the upcoming features and benefits for token holders.
Published on 2024-09-24

RENEC Lend's Airdrop Event

RENEC Lend, a prominent decentralized finance (DeFi) platform, has announced a special airdrop event for its native token, Relend Token (REL). This comes ahead of the anticipated listing of REL on Solana and RENEC decentralized exchanges (DEXs) by the end of September 2024. The airdrop provides an exclusive chance for users to accumulate REL tokens before they are publicly available.

Understanding RENEC Lend

As an innovative DeFi platform, RENEC Lend offers supply and borrow services for both tokens and fiat, leveraging the RENEC and Solana blockchains. The platform presents low borrowing interest rates, starting at just 5% annually, eliminating the complexities of traditional financial systems. The native token, REL, empowers holders with governance, staking, and liquidity benefits, drawing considerable attention from the DeFi community.

Key Features of Relend Token (REL)

REL token holders are set to experience several significant benefits with the upcoming DEX listing:

  • Governance & Protocol Upgrades: Token holders can influence protocol decisions and fee adjustments by staking REL.
  • Staking Opportunities: Staking REL on the platform allows holders to earn rewards.
  • Liquidity Provision: Supplying liquidity to REL pools on DEXs can yield pool fee rewards.
  • Discounted Borrowing Fees: Enjoy reduced borrowing fees and interest rates.
  • Exclusive Programs: Access to unique liquidity and referral programs.

REL Roadmap and Airdrop Details

Key milestones for REL include its official listing on Solana and RENEC DEXs by September 2024, and the launch of governance features in October 2024. The airdrop event, from September 23 to October 7, 2024, offers users an annual percentage yield (APY) of 30% to 60% by supplying SOL, USDT, or USDC. Rewards include:

  • 60 REL for every 1 USDT or USDC, with up to 60% APY.
  • 30 REL for every 1 SOL, with up to 30% APY.

Participants benefit from daily rewards, no supply limits, and the flexibility to withdraw their tokens anytime. The airdrop pool is limited, so early participation is encouraged.

Additional Post-Supply Benefits

After supplying tokens, users can borrow additional tokens like USDT or BNB with a loan-to-value (LTV) ratio of up to 75%, and loan interest rates as low as 5% annually without financial verification.

Conclusion

Acquiring REL before its public listing offers users early engagement with the platform's ecosystem. RENEC Lend, supported by the RENEC Foundation, continues to provide competitive borrowing rates and lucrative airdrop events, reinforcing its position in the DeFi space.

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