ETHA Lend, a composable yield optimizer that abstracts the complexity in DeFi to provide algorithmically driven optimal yields, has announced the launch of its Mainnet on the Polygon network on July 15th, 2021.
At the highest level, ETHA Lend is attempting to bring inclusiveness and elegance to the DeFi yield market without subtracting the buzzing energy that led to the meteoric rise of DeFi. Some of the early evidence comes in the form of the protocol’s strong backing, as well as through the fact that the protocol will now be powered by both Ethereum and Polygon ecosystems.
The deployment of the protocol’s Mainnet on Polygon remains a strategic decision to achieve maximum scalability and fight congestion that the Ethereum network currently struggles with. Indeed, the protocol’s emergence with the Mainnet’s launch will strongly represent the future of DeFi as a more inclusive space for user and asset classes.
ETHA Lend represents a suite of features aimed at optimizing the returns of their users while also helping them save up on a significant amount of gas fees:
The key marker of ETHA Lend is their discovery algorithm, capable of allocating assets for a supply as small as 1000 USDT to as large as 1,000,000 USDT in under a second.
The discovery algorithm takes in multiple factors such as past and present asset volatility, yield history, latest gas cost, the budget of asset supplied to calculate optimal asset allocation. In addition, users can trigger the rebalancing of their assets, as the protocol’s rebalancing feature is reactive to parameters.
- ETHA Smart Wallet-
ETHA Smart Wallet is a non-custodial wallet with an incredibly unique feature that helps users save significant gas fees. In addition, it eliminates the need to pay for approval or authentication fees when users visit protocols or dApps they haven’t interacted with before.
The smart wallet performs multiple transactions with multiple assets at all once. Instead of using a routing mechanism, it directly interacts with the smart contracts of assets and batches them into one transaction. This mechanism can cut gas fees by a large margin but also removes the redundancy and replaces it with extreme operational efficiency. Users can also delegate their ETHA Smart wallets to others for a more accessible experience.
- ETHA Vaults a.k.a eVaults-
eVault(s) is another feature of the protocol, using a hybrid strategy purely focused on the needs of risk-averse users. Initially, two eVaults (Curve and QuickSwap) will roll out with the Mainnet, infamous for their impermanent loss features. According to the eVault strategy, users can deposit stable assets (USDT, USDC, and DAI) into the gauge to receive volatile assets (BTC, ETH, ETHA).
ETHA Lend plans to expand on their eVaults in phases, emphasizing functionality, APYs, returns, and the underlying LP-pair deployment.
- ETHA Lending Market-
The protocol employs the users’ data and their algorithms to offer immunity from the hourly fluctuating APYs. Furthermore, users can invest in a single click thanks to the ETHA Smart Wallet and the “My Portfolio” page, which maximizes efficiency and convenience.
ETHA Lend uses a hybrid lending model to reduce the impact of short-term volatility on the discovery algorithm output. This comes as a relief to lenders and borrowers hungry for a more consolidated DeFi lending strategy.
ETHA Lend is Ushering a New Wave to Cross-Chain DeFi Yield Optimization!
Since its inception, ETHA Lend has been vocal about the complexities in DeFi, including high barriers to entry costs for the average users, lack of scalability, etc. The team behind the protocol is passionate about remedying these factors that haunt the DeFi yield optimization market. A look at the entourage of features that will roll out with the protocol’s Mainnet on July 15th makes it apparent that the project holds a genuine potential to provide users with returns that are optimal and sustainable.
Is ETHA Lend the next big DeFi breakthrough? Once the Mainnet is live, we will have our answer.
