Ion Protocol is a decentralized lending platform built on EigenLayer. It allows users to lend and borrow against Liquid Staking Tokens (LSTs) and Liquid Restaking Tokens (LRTs). The protocol aims to provide ETH-on-ETH yield by enabling users to lend ETH and borrow against their staked or restaked assets, thereby multiplying their rewards. Key features include support for various collateral types like LSTs, LRTs, and exotic ETH-backed assets, a referral program, and a points system to reward user activity. The platform also details its mechanisms for lending, borrowing, and liquidations, along with its smart contract architecture and security reviews.
