Competitive Look At DeFi Yield Optimizer ETHA Lend

By July 22, 2021Polkadot
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ETHA Lend is a protocol-agnostic yield optimizer packed with features to efficiently interact universally with DeFi platforms. Here’s a look at the protocol’s core features.

ETHA Lend launched its Mainnet on Polygon on July 15, 2021.

ETHA Lend describes its solution to shortcomings in DeFi: “We algorithmically calculate when a liquidity provider supplies an asset through the protocol. Based on gas cost, volatility, current yield, utilization rate, and supplied amount we optimize the asset allocation across protocols.”

The products available within this protocol are:

  • Gas optimization
  • User-based portfolio re-balancing
  • Interoperability
  • “My portfolio” page. This acts as an all-in-one dashboard and a holistic tool for efficient asset management
  • Yield Earning in Real-time

ETHA Lend’s products include:

  • 700X times faster discovery algorithm,
  • ETHA Smart Wallet
  • eVaults
  • The lending market

These are essential and key to the protocol’s actual vision towards efficient yield optimization.

Overview of ETHA Lend

Polygon

ETHA Lend is a composable and interoperable protocol and is built on Polygon. Polygon lends the protocol scalability, access to a rapidly growing ecosystem, and Polygon’s near-zero gas fees.

Launching on Polygon was a strategic decision for ETHA Lend to offer users an enriching experience, faster transactions, low gas fees, and higher efficiency, among other perks.

User experience

ETHA Lend has created a consensus-based community.

The protocol utilizes its social media to reach out to its community for their input and then applies this to improving the overall user experience. This inclusive dynamic is definitely a factor worth highlighting.

ETHA Lend plans to launch an extremely hybrid and responsive future governance mechanism for the community to participate in the future curation of the protocol.

ETHA token

ETHA Lend’s utility and governance token is ETHA.

“$ETHA is the 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.

Gas fee optimization through ETHA Lend smart wallet

ETHA Lend’s non-custodial smart wallet, a feature launched on the Mainnet, will help users to save on gas fees. ETHA Lend explains that, instead of using a transaction routing mechanism, the protocol engages directly with the smart contracts of the underlying assets.

So for example, you need a specific token for something that there isn’t a pair for, such as ETHA and WBTC. Rather than going to Uniswap, where the V2 router will swap ETHA into ETH or USDC then to WBTC. Gas fees with this type of transaction will be quite high and rightfully so as you won’t manually have to search different protocols and do the work yourself.

The ETHA smart wallet though will directly interact with ETHA/ WBTC smart contracts. Here, the wallet will chain the various transactions (ETHA => USDC) and (USDC => WBTC), ultimately decreasing gas fees.

Simply put, ETHA Lend batches the transactions by simply interacting with the underlying assets directly, so users save on gas fees,

Core features of ETHA Lend

ETHA Lend’s core features include:

  • Earnings in real-time: interest is paid continuously paid in real-time and always compounding. There is also no lock-up period for withdrawal.
  • Portfolio rebalancing: users can optimize their asset allocation by rebalancing, which will improve their earnings.
  • Optimal asset allocation: the protocol algorithmically optimizes the asset allocation across DeFi protocols and reduces risk exposure.
  • Delegated accounts: Users might want to give access to another wallet. Account delegation allows the user full access to the smart contract wallet.

Competitive overview of core features

Chain interoperability Asset allocation strategy Rebalance mechanisms Lock-up period Leverage credit delegation
ETHA Lend Ethereum and Polkadot Risk-rewards allocation based on adjustable parameters Reactive to parameters No (yield earned in real-time)Yes
APY. Finance Ethereum APY manager adjust allocation and strategy iterationDepends on the withdrawal request NoNo
YOP. Finance Multichain which includes Ethereum Customized parameters on multiple protocols N/AN/ANo
Idle. Finance EthereumMultipools (stablecoins only)Automatic rebalance supplemented by user proposal call YesNo
Vesper EthereumMultipools (risk-based)Based on collateralization and its changes YesNo
The competitive overview can be accessed here.

ETHA Lend addresses shortfalls in DeFI

By launching the Mainnet on Polygon, ETHA Lend will have better scalability, interoperability, and reduce gas fees.

ETHA Lend engages and interacts with its community via social media in order to gain their insight and input to decision-making processes. By taking this feedback and implementing it into improving the ecosystem, ETHA Lend has created an environment of inclusivity for existing users and potential joiners.

The ETHA Lend smart wallet, one of the new features launched on the Mainnet, allows for many exciting opportunities with lower gas fees being a real highlight.

ETHA Lend’s core functions are indicative of the trailblazing nature of this protocol. Real-time earnings, no lock-up withdrawal period, improved earnings through portfolio rebalancing, risk reduction through algorithmic optimization for asset allocation, and the ability to delegate accounts through the smart wallet are features that set this protocol apart from others.

Here’s where to go for more on ETHA Lend: website, whitepaper, Twitter, Telegram, Discord, and Reddit.

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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