Emergency parameters are adjusted on the first day of KLEND launching OEC

1 min readAug 2, 2021

KLend launch OEC today and TVL exceeded 40M+$TVL in half an hour. It’s off to a good start

But there are also some small problems

According to the feedback from the community, KLend platform’s OKT deposit interest need to be more competitive in the market!!

The KLend council, after its first-day launch, decided to make an exceptional emergency parameter adjustment that went beyond community governance

1. Use KLend Board OKT vault to subsidize THE APY income of OKT deposits (it is expected that deposit APY will increase by more than 25%)

2. The loan rate model will be adjusted after Beijing Time UTC+8 24:00 (August 2). At that time, the user who has borrowed money and the user whose margin is above the risk line, please pay it back as soon as possible before this.

adjust the OKT deposit fee model parameters, the maximum loan fee from 32% to 182%, and increased the borrowing cost appropriately. (compared to the prevailing maximum rate of 300% on OEC), the deposit interest will increase substantially after that