Etha Lend, an agnostic decentralized finance yield optimizer that abstracts the complexities of the DeFi space, announced the upcoming launch of its mainnet on Polygon on July 15, 2021. By removing the asset silos, Etha Lend aims to bring inclusiveness and elegance to the general DeFi market for all user classes.
“Successfully launching the mainnet is a critical step in our long-term mission of offering users maximized and sustainable yields. As we progress, we aim to stand at the frontier of DeFi as a cross-chain yield optimizer,” said Chester Bella, the co-founder of Etha Lend.
The perfect environment with perfect timing
Etha Lend’s mainnet will launch on Polygon (Matic Network), which represents a significant milestone for it in achieving the cross-chain vision. This seems like a logical and strategic move by Etha Lend as the Polygon network is uniquely positioned to address the current congestion on Ethereum.
The deployment of its mainnet is a very optimistic and competitive event since it is backed by a successful evaluation phase that the Etha Lend team calls a “soft mainnet screening,” where selected members of the community were able to test the soft mainnet in real-time and offer feedback to the developers.
Etha Lend may be the next big breakthrough to not just cross-chain yield optimization but also gas cost optimization.
The game-changing algorithm
Etha Lend boasts a suite of next-generation DeFi solutions, but a key marker of the protocol is its discovery algorithm. Its algorithm fetches multiple factors such as the volatility of assets, present and past yields, the number of assets supplied, the latest gas costs, and the budget of the asset supplied to reach the most optimal asset allocation. The protocol aims to make investments highly intuitive and automated for its users with its discovery algorithm, which operates 700 times faster. If this vision comes to fruition, users will certainly have a more financially reasonable and sustainable way of predicting the market.
One protocol, unlimited features
Etha Lend’s (smart contract) wallet is another exciting functionality that will be released on July 15 with the mainnet. The wallet can batch multiple transactions in one single chain. By eliminating transaction routing, the Etha wallet can further lower gas costs. In addition, users who employ their wallets won’t be paying approval fees when interacting with protocols or decentralized applications they haven’t visited before. Simply put, there are many benefits to this protocol in lowering the gas cost for its users to the maximum.
Another feature called eVaults will also be introduced together with the Etha Lend mainnet. Through its eVaults, the Etha team brings relief to the risk-averse users, who have been haunted by extreme volatility in the market. The eVaults use a distinct strategy where once a stablecoin is invested, the rewards are released as volatile assets. The initial two eVaults will employ the Curve and QuickSwap pools, both of which are infamous for their strong, impermanent loss features.
Early users of the eVaults will receive a generous reward in Etha tokens.
According to the Etha Lend developers, they have plans to incorporate more strategies for the eVaults to cover a diverse network of users. Until then, there is a lot to be explored with the Etha Lend mainnet which will be released on July 15, 2021. The Etha Lend resources you will need to get started are listed below.
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