ETHLend

ETHLend is a decentralized lending platform built on the Ethereum blockchain that enables peer-to-peer lending and borrowing through smart contracts. The system connects lenders and borrowers without a centralized intermediary, and uses smart contracts to hold collateral and manage loan terms.

Lenders supply liquidity by offering funds to be borrowed at specified terms, while borrowers submit loan requests with the desired amount, duration, and requested interest rate. When a match is made, a loan agreement is executed on-chain, and the borrower may be required to post collateral. The smart contract automatically enforces repayment and collateral liquidation if terms are breached.

The platform issued LEND, an ERC-20 token, which served as the native asset of the ecosystem. LEND was used to pay platform fees and to participate in the platform's incentive structure; it was tradable on token markets and contributed to liquidity on the platform.

ETHLend was one of the early DeFi lending projects and played a role in popularizing on-chain lending. It was led by Stani Kulechov and other contributors and operated during the initial wave of DeFi experimentation in the late 2010s. In 2020, the ETHLend project evolved into, or was superseded by, the Aave protocol, with the team and core ideas continuing under the Aave banner.

Overall, ETHLend established a foundation for decentralized lending on Ethereum and influenced subsequent DeFi lending platforms, including Aave.