How much profit did Ethlend make?

in ethlend •  3 months ago 

Ethlend raised around 16 - 18 million dollars in their ICO funding which concluded in late November 2017. A long time have passed since then. But this project hasn't made much real progress at all.

From this page from Ethlend's github repository, we learn that they have a fee of 0.01 ETH.

We charge 0.01 ETH for funding a loan request.

Currently there is more liquidity available than borrowers, therefore we are keeping the fee as it is.

That means, 695 loans will make 695*0.01 ETH of revenue. That's lower than 2000$. Upon checking https://ethlend.io/marketplace it is clear to me that most of the loans aren't made in Lend token. I don't see much benefit in holding Lend tokens if it isn't even heavily used in its native platform.

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