zkLend Announces ZEND Token and Reveals 2024 Roadmap

By: Isha Das

zkLend, a money market protocol based on the Ethereum Layer2 network Starknet recently announced its native ZEND token. This token aims to enrich the platform's functions and is set to be airdropped to the platform's users later this year. Although the project has not yet disclosed the specific criteria for airdrop eligibility or the snapshot, it has confirmed the launch aligns with the company's ambitious 2024 roadmap.

The mapped plans include introducing key features such as isolated markets, a builder interface for transactions, vault strategies, and a V2 protocol version upgrade. These features target unlocking various user ways to manage and leverage their assets efficiently.

Co-founder, Brian Fu, expressed his enthusiasm regarding the new roadmap which is designed to provide maximum value to growing user base. zkLend is currently among the top five DeFi projects on Starknet according to DeFillama, with approximately $6.25 million worth of assets locked in the protocol. The platform is also highly active on the Starknet blockchain, with over 8 million transactions to date.

Last but not least, Cairo, a crucial technology that verifies proofs and posts them back to the Layer2 blockchain developed collaboratively by Starkware and the Herodotus team is being relied upon in lieu of Ethereum's mainnet.