Dear users,
We are excited to announce the official launch of Supply and Borrow Market V2 (SBM V2) on Jun 17, 2026 (Singapore Time). This new version adopts an isolated-collateral lending protocol with a dual-layer structure of Vaults and Markets, and introduces the Adaptive Curve Interest Rate Model. These upgrades are designed to significantly enhance capital efficiency for both depositors and borrowers, while establishing a more robust and resilient risk-isolation framework across the platform.
We warmly invite all users to explore and experience the next generation of decentralized lending with SBM V2 !
Key Upgrades in SBM V2
1. Optimized Market Structure
The SBM V2 lending protocol is an optimized dual-layer structure consisting of Vaults and Markets, enabling users to supply a single type of asset (e.g., USDT) into the corresponding Vault and pledge supported collateral assets to borrow funds from the Market.
Vault: a Vault functions as the central liquidity pool and distribution hub. Users deposit a single asset type into the Vault, which allocates liquidity across multiple Markets at the same time. In return, depositors earn yield sourced from all underlying Markets, with interest automatically aggregated and distributed based on the funds invested from Vault.
Market: each Market operates as an independent lending environment. Borrowers pledge supported collateral assets to borrow funds directly from the associated Market. Since all Markets are fully isolated, risks in one collateral token do not propagate to others, effectively preventing cross-market contagion and enhancing overall system safety.
2. Improved Interest Rate Model
The Adaptive Curve Interest Rate Model is an enhanced evolution of the Jump Curve model from SBM (Supply and Borrow Market) V1, where borrow rates rise sharply once utilization surpasses the Target Point (kink in V1). In SBM V2, it adds a dynamic vertical adjustment mechanism designed to maintain market utilization near an optimal target.
When utilization is low: the entire rate curve shifts downward, lowering borrow rates to stimulate borrowing.
When utilization is high: the entire curve shifts upward, raising rates to encourage repayments.
This adaptive design ensures both improved rate stability and maximum capital efficiency across all markets.
3. Enhanced Risk Management
SBM V2 introduces a significant risk improvement through its isolated-lending model, where each market operates independently with its own risk parameters (e.g., LLTV.). This architecture ensures that risk events (such as a sharp price drop or liquidation) are contained within individual markets, preventing cross-market contagion and reducing systemic liquidation risk across the protocol.
JustLend DAO is committed to providing users with a more efficient, secure, and intuitive Supply and Borrow Market. We believe that this upgrade will unlock even greater value for users, significantly strengthen the safety of user funds, and attract more participants to build and grow the JustLend DAO ecosystem together.
Thank you for your support!
JustLend DAO
June 17, 2026 (Singapore time)