Decentralized Finance (DeFi) is a flourishing sector that aims to offer everyone financial services in an open-sourced manner with lower fees. Although Decentralized Apps or dApps and smart contracts aim to make lending and borrowing easier for people, one of the main drawbacks of the system is its complexity.
This complexity makes it difficult for the average user to become a part of the DeFi ecosystem.
ETHA Lend is a project that aims to remove hindrances towards DeFi adoption and widen its appeal in the crypto sphere.
What is ETHA Lend?
ETHA Lend is an agnostic yield optimizer powered by the Polygon network. Its mainnet was launched successfully on 15th July on the POS chain in order to maximize scalability and offer users with minimal gas fees.
The platform aims to provide users with a simple user experience with the help of its DeFi features and leverage state-of-art automation and hybrid changes that are enforced by smart contracts.
Faster discovery algorithm and interoperability
The ETHA Lend discovery algorithm is 700X faster and brings to its users algorithmically driven optimal yields and inclusiveness. The algorithm was designed after factoring in a number of factors including past and present volatility of the assets, its past yields, latest gas costs and the budget of assets supplied to calculate asset allocation.
ETHA Lend’s liquidity protocol is flexible in the sense that it can be upgraded without any hassle in order to integrate any new DeFi protocol and further interact with them to maximize yields.
Low gas fees and portfolio rebalancing
To provide users with a better experience, the platform has enabled Gas Tokens to their protocol due to this, the users would be able to save about 52% of their transaction fees.
ETHA Lend’s portfolio rebalancing strategy is unique for a DeFi yield optimizer. By rebalancing their asset allocations, users can optimize and maximize their earnings on the platform.
ETHA smart wallet
The ETHA smart wallet is a non-custodial wallet that offers unique features to its users that would help them save on gas fees and have complete control over their assets.
The ETHA smart wallet also helps people conduct multiple transactions with different assets at the same time. To make for a more intuitive and accessible experience users can also delegate their ETHA smart wallet to other users.
Users need to create their smart wallet only one when they interact with the protocol after which they do not have to pay for allowing, approving and authenticating transactions whenever they visit any new dApps.
This helps users save not only on gas fees but also on their time.
eVaults
Vaults offer maximum yields on a user’s assets by using a specific set of strategies. One of the core features of the ETHA Lend platform is their eVaults. These help users invest and reinvest their deposited funds in the best of the available opportunities thereby enabling high yields in return.
Currently, there are 2 types of eVaults on the platform: wETH eVault and wBTC eVault. Each of these has their own unique strategy to protect a user’s funds from the high volatilities of the market.
With the wBTC eVault users can deposit stable assets such as USDC/DAI and receive rewards in volatile assets wBTC and ETHA tokens.
The wETH eVault allows users to deposit stable assets like USDC/DAI/USDC and get rewarded in volatile assets like wETH and ETHA tokens.
As an early incentive, users with either of the eVaults are getting 500 ETHA tokens every day to the collective pool along with the APY in underlying volatile assets.
The platform also plans to roll out more eVault strategies such as volatile assets and auto-compounding in the future.
ETHA Lending market
The ETHA Lending market is a key component of the platform. It retrieves data from the DeFi lending markets and offers the best yields for lenders.
They also use their own hybrid supply rate model and discovery algorithm so as to give their users high yields on their deposits while also protecting their funds from hourly APY fluctuations.
Currently, there are 4 pools in the lending market that includes MATIC, DAI, USDC and USDT. There is also no minimum or maximum amount limits that can be deposited in the pools.
As the platform is powered by Polygon, there is no deposit fees required and users only need to pay a small amount of gas fees.
ETHA Token
ETHA is the native token on the platform with the core functions of utility and governance. All users get rewarded in the ETHA token and it is designed ideally to reward long-term liquidity providers.
Users on the ETHA Lend platform can get rewards from performance fees on ETHA Lend too.
Conclusion
DeFi is a complex ecosystem and ETHA Lend is a chain agnostic yield optimizer trying to simplify the space. The platform has their own discovery algorithm and a unique portfolio rebalancing strategy which would provide its users with better profits.
The ETHA token too has its own governance and reward mechanism use cases which the platform would explore further with future updates.
The DeFi space is making advances and for mass adoption, it is essential to provide users a simple and profitable experience, ETHA Lend promises to bring just this to space.
For more information about Ethalend, please check out their website.
Disclaimer: This is a paid post and should not be treated as news/advice.
