Simple Lending Protocol (v1)
The White Lotus protocol comes with a simple lending market (not a fork, read risk section), users can provide ETH and earn 70% of borrowed rewards, APR will be updated on the site every 24 hours.
ETH Lenders
The White Lotus doesn't need to rely on external oracles for pricing information. Instead, the liquidation price is always based on the current floor price of $LOTUS, which can only increase over time and will always have liquidity for full liquidations due to the protocol design.
When you lend WETH you will be earning 70% of the sLOTUS rewards deposited as collateral. You can see your earnings slowly accrue on the /lend section.
Borrowers
You can borrow ~100% on your sLOTUS collateral and keep earning 21% rewards on your collateral. Be careful as while on the floor you can get liquidated any time lenders decide to withdraw their WETH.
The remaining 10% of rewards are 66% burned and 33% sent to the developers for continued improvements.
Disclaimer: LOTUS was released in a fair way via Trader Joe outside of this website, The purchase of LOTUS tokens does not constitute an investment contract or any form of investment advice. The White Lotus makes no guarantees or promises about the future value or performance of the token, and the value of the token may fluctuate significantly.
Also note that it might be illegal for you to own LOTUS depending on your jurisdiction, check with your local laws.