Unlocking Value: Gemach Lend’s Token Migration and Bonus Overhaul

A New Era for GLend

4 min readJan 24, 2024


We are excited to share a significant development that marks a new era for Gemach Lend (GLEND). Our journey has been one of continuous evolution, and today, we’re thrilled to unveil a comprehensive token migration and a revamp of our bonus structures. These changes are driven by our unwavering commitment to enhance user benefits, promote long-term value, and fortify the foundation of GLend.

Understanding the New Tokenomics

In this transformative phase, Gemach Lend introduces a new tokenomics structure that aligns with our vision for the future:

  • Max Supply: 2,500,000 GLEND
  • Circulating: 50%
  • Team: 10%
  • Liquidity Incentives: 10%
  • Treasury: 25%
  • GBC Airdrop: 5%

Seamless Token Migration with a 1:1 Ratio

We understand the importance of a smooth transition, and that’s why we’re offering a 1:1 migration for current Tender Finance (TND) token holders. Your existing TND tokens will be swapped for Gemach Lend (GLEND) tokens on a like-for-like basis, ensuring that you maintain your proportional ownership in our revamped ecosystem.

Revamping Bonus Structures for Enhanced Benefits

Our commitment to rewarding our community has led to a complete overhaul of our bonus structures. We recognize that these changes may raise questions, so let’s dive into what’s new:

Bonus Formulas and Average Bonus:

Only holders of the TND token are eligible for these bonuses. Holders are defined as users who had more than 0 TND or users who are still holding a majority of their purchased tokens. Dumpers were not eligible.

Bonus 1 based on Token Holdings (TND) and total MP earned:

  • Formula: Bonus = (TND * (MP / TOTAL MP EARNED BY ALL USERS)) / 2
  • Explanation: This bonus rewards TND token holders based on their holdings and multiplier points.

Bonus based on Escrowed Amount (esTND) and total MP earned:

  • Formula: Bonus = esTND * (MP / TOT MP)
  • Explanation: Users with escrowed TND tokens will receive a bonus determined by the ratio of multiplier points to total multiplier points earned by escrowed token holders.

Additional Bonus for Holders based on TND+esTND amount and total MP earned:

  • Formula: Bonus = ((TND — (TND / (1 + (MP / (TND + esTND))))) * 0.1) / 2
  • Explanation: TND token holders receive an extra bonus, factoring in multiplier points and escrowed TND tokens.

Average Bonus: Approximately 9%.

Key Long-Term Benefits for Users

  1. Community Empowerment and Decentralization: Our reduced team allocation and increased circulating supply empower the community, aligning with blockchain principles.
  2. Instantly Liquid Incentives: Liquidity incentives are no longer held in escrow, ensuring immediate access to rewards and freedom from vesting periods.
  3. Strengthened Treasury for Sustainable Growth: Our treasury allocation contributes to the project’s long-term viability and success.
  4. Reduced Dilution, Bigger Ownership Percentage: Users will experience less dilution over time, maintaining a more significant stake in Gemach Lend.
  5. Alignment of Interests: The revised tokenomics, bonus structures, and reduced dilution foster alignment between the project team and the community, ensuring shared success.
  6. Efficient Resource Allocation: Streamlined resource allocation directs a significant portion to liquidity incentives and the treasury, promoting efficient fund utilization.

Addressing Concerns: Ensuring Fairness and Long-Term Value

We understand that some may have concerns about the new bonus structures, especially those who held their tokens and escrowed amounts for an extended period. It’s essential to consider that the changes are designed to benefit the community in the long run.

Ensuring Token Value Preservation:

We want to address a critical aspect of these changes: token value preservation. While it might seem like providing larger bonuses would be more advantageous, it’s essential to consider the broader impact. If we had issued more tokens as bonuses, it would mean that everyone else received more as well. This would lead to further dilution of your share, potentially rendering the larger bonus irrelevant.

Our primary objective was to maintain a healthy environment for Gemach Lend, and that required keeping the circulating supply as low as possible. Currently, there are approximately 1,141,000 tokens in circulation, including the liquidity supply. This limitation allowed us a bonus budget of around 105k tokens. Our focus is on creating a sustainable ecosystem where every token holds its value, benefiting the entire community in the long run.

Comparing Scenarios:

Slow-vesting scenarios might not have preserved token value as effectively, making our new tokenomics and bonus structures more favorable for long-term value.

Engage with Us

If you have specific concerns or questions, please reach out to us through our official channels. We value your feedback and are here to address any queries you may have.

Thank you for your continued support and understanding as we work together to build a stronger Gemach Lend ecosystem.

Best regards,

GLend Team