ETHA Lend, a composable DeFi yield optimizer currently powered by Ethereum and the Polygon network, will launch its Mainnet on the Polygon POS Chain on July 15, 2021.
The Mainnet will include a number of innovative features, including a discovery algorithm, smart wallet, two eVaults, the ETHA lending market, and the ETHA token.
ETHA Lend is a protocol-agnostic yield optimizer packed with features to efficiently interact universally with DeFi platforms.
Why Polygon
Launching on Polygon was a strategic decision for ETHA Lend to further enhance the benefits of their users. Here’s why.
Higher scalability, interoperability, and gas cost optimization were the core of this decision. ETHA Lend got its community involved with the decision-making process too.
On Twitter, ETHA Lend posted a poll asking what members thought was the most “optimistic setting” for the Mainnet launch. The resounding answer was in favor of launching the Mainnet on a sidechain, which will provide a hybrid solution to members.
ETHA Lend is a DeFi yield optimizer. A key focus point for ETHA Lend is to produce a sustainable and inclusive environment for all users and potential users.
How ETHA Lend is trailblazing
ETHA Lend is in no way following in the footsteps of other protocols. Users can expect exciting revelations, innovations, and developments when the Mainnet launches. Some of the highlights are:
ETHA Lend’s discovery algorithm is 700x faster than it was before an API updateThe ETHA Lend smart wallet has automated features.Users can save on gas fees through the smart wallet.Wallet delegation.Through eVaults, risk-averse users receive optimal and sustainable yields with maximized stability.Minimizing the impact of short-term volatility on its discovery algorithm.
Tokenomics
ETHA Lend’s utility and governance token is ETHA.
“$ETHA is a future governance and utility token with value accrual mechanisms, to reward long-term liquidity providers through platform fees and discounts,” says the ETHA Lend website.
Mainnet features
Discovery algorithm
Prior to an API update done earlier this year, ETHA Lend’s discovery algorithm would take 45 seconds to calculate an asset allocation for an asset greater than one million U.S. dollars for yield optimization.
For assets less than one thousand U.S. dollars, this process would take 10 seconds.
Post update, ETHA Lend’s discovery algorithm takes less than a second to respond. To break it down, the discovery algorithm, in under a second, factors in the volatility of assets present, past yields, and budget of the asset provided and then calculates the asset allocation.
ETHA Lend provides algorithmically driven optimal yields that are processed 700x faster. Regardless of the asset size, the calculation will be done in less than a second.
ETHA smart wallet
The ETHA smart wallet is non-custodial, meaning users have full control over their funds due to its decentralized nature.
Holding an ETHA smart wallet is beneficial to the user experience because of the perks involved, like being able to save on gas fees.
How the smart wallet works:
An ETHA smart wallet will need to be created when users engage with the protocol for the first time. This is an essential part of the user experience and is only required once.
Once a user has visited the protocol, they will not need to pay approval fees to authenticate their identity or allow transactions when visiting new dApps or protocols or dApps they haven’t visited previously. ETHA Lend has done this to allow users to save on gas fees essentially.
It has also been designed this way, so users save time when making repeat transactions, ultimately enhancing the user experience and making it intuitive. Users are also able to make multiple transactions with different assets all at once.
An inclusive environment for newbies and experts
So suppose a user wants to invest in one of the eVaults, but they only hold MATIC tokens in their wallet. Traditionally, this user performs multiple relevant transactions on different protocols to finally get the DAI tokens or the LP tokens to insert into the eVault gauge. But with the ETHA Smart Wallet, these transactions are performed automatically in one chain:
Swap MATIC for DAI in QuickSwapApprove Curve to spend your DAIAdd DAI liquidity to the Curve Pool for LP tokensApprove the Gauge to Stake LP tokenStake LP Token to the GaugeClaim your MATIC rewards
Gas fee savings:
The ETHA Smart Wallet can directly interact with smart contracts of assets to perform batching. By chaining the multi-level transaction and eliminating the need for the router, gas fees are significantly less.
Wallet delegation:
Users can delegate their ETHA Smart wallet to others for a more accessible DeFi yield experience.
Portfolio rebalancing
ETHA Lend’s portfolio rebalancing is reactive to parameters, which is again a unique strategy for a DeFi yield optimizer.
eVaults
ETHA Lend is rolling out eVaults to the Mainnet. Two eVaults will be available, a Curve eVault and a QuickSwap eVault. The team will expand on their eVault range, in terms of strategies, functionality, and LP pair deployment. The future eVaults will be released in various phases.
Curve and QuickSwap are renowned for the impermanent loss feature, which is obviously in the user’s best interest.
Users will need to deposit stable assets into their eVault in order to invest. ETHA Lend says these assets include USDT, USDC, and DAI. Following this, they will receive returns in BTC, ETH, and ETHA.
ETHA lending market
The ETHA lending market will give users algorithmically driven yields. Using their own data and algorithm, ETHA Lend ensures user protection from fluctuating hourly APY. ETHA Lend has a hybrid lending rate model.
“We are all aware that the supply rate is one of the most important factors that drive the DeFi lending market. The supply rate is also an extremely volatile element. E.g., the supply rate for DAI on AAVE fluctuates anywhere between 4% to 13% throughout the day. This creates a very volatile or unstable condition for lenders and borrowers,” said ETHA Lend.
To minimize the impact of short-term volatility on the discovery algorithm output, ETHA Lend implemented the below formula:
1/24 * rate_24_hours_ago + 2/24 * rate_23_hours_ago + … + 24/24 * rate current.
“This is a perfect configuration to protect our users from a volatile market and provides a more consolidated lending curve,” ETHA Lend concluded.
ETHA Lend is for newbies and experts alike
User experience is a top priority for ETHA Lend.
ETHA Lend consistently interacts with its community to generate feedback. This is taken and applied to improve the overall user experience.
By listening to what is being said, engaging with members, and facilitating change that is actually wanted, ETHA Lend has created a dynamic, give-and-take relationship with its community.
Being a newbie in the crypto space is an overwhelming experience at the least and ETHA Lend has created a space of inclusivity. By listening to people’s input, ETHA Lend really is putting their community first.
Making improvements in line with the community’s needs, creating an open dialogue on social media, and an atmosphere of inclusivity, ETHA Lend is leaps and bounds ahead of many of the crypto “giants.”
Keep your eye on ETHA Lend
ETHA Lend is undoubtedly making some exciting moves in the crypto space. The atmosphere of “everyone is welcome” rings true throughout the features that are launched on the Mainnet on July 15, 2021.
ETHA Lend has a hands-on approach to the community, and it is evident that the relationship is dynamic and has a give-and-take structure. The palpable inclusivity is a huge differentiating factor for ETHA Lend, which sets them apart.
Stay in the loop with ETHA Lend on Twitter, Telegram, Discord, and Reddit.
Disclaimer
All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.
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