ETHA Lend, a composable DeFi yield optimizer built on Ethereum and powered by Polkadot, has partnered with XFai through the DEX Liquidity Oracle (DLO) partnership program. Through the partnership, ETHA Lend’s community can enjoy from an expanded array of DeFi benefits by participating in the one-sided liquidity provision with the $ETHA tokens, while XFai’s DLO charts the $ETHA trading on centralized exchanges to create a synthetic, optimized curve for $ETHA on decentralized exchanges. The partnership is geared to bring an ideal trading ecosystem for $ETHA holders with strong DEX liquidity provisioning and minimum slippage, while allowing $XFIT holders to directly benefit from the strong performance of $ETHA that generates revenue to be put back into $XFIT through the buy-and-make strategy.
What is ETHA Lend?
ETHA Lend is a composable protocol that abstracts the complexity in DeFi to provide algorithmically optimal yield. It provides its users with an assortment of DeFi benefits such as lower gas fee, interoperable protocol, algorithmic asset allocation, and portfolio rebalancing. With the entire protocol liquidity hovering above $8.3 billion USD, ETHA Lend has quickly emerged to become one of the leading protocols in the DeFi space that bridges Ethereum and Polkadot. Backed by reputable VCs such as AU21, DFG, and TRG Capital, ETHA Lend is built in conjunction with renowned DeFi platforms such as Aave, Compound, and dY/dX.
XFai DLO to Hone ETHA Lend’s DeFi Competitive Edge
The XFai DLO (DEX Liquidity Oracle), currently in development, is set to sharpen ETHA Lend’s already strong competitive edge within the DeFi ecosystem even further. As the DLO charts $ETHA on centralized exchanges, it creates a synthetic curve through which DEX trading can reach a near-ideal level. The DLO then invites $ETHA holders to participate in the unique one-sided liquidity farming through which $ETHA tokens can be staked. The staked tokens are pooled, as the DLO injects optimum liquidity into the DEX to match the synthetic curve. This results in $ETHA having a strong presence in the form of DEX liquidity, while $ETHA token holders can earn significant APR that was reserved for only the top 10 major cryptocurrency assets until now.
“We are excited to have partnered with XFai through the DLO partnership program. We believe XFai’s DLO will create one of the best conditions for all our community member who hold $ETHA to trade on the DEX, while allowing them to earn APR in the form of $ETHA. The approach is uniquely innovative, and we cannot wait to see the DLO at work to bring additional benefits for the ETHA Lend community.” — ETHA Lend Co-Founder Danny Boahen.
ETHA Lend and XFai, a Long Term Partnership
Provided the nature of DLO, XFai as a project is bound to generate revenue in the form of $ETHA tokens with no cost to ETHA Lend or $ETHA token holders. This synergy brings the two projects even closer, as XFai not only provides the necessary technical power to ETHA Lend to boost its standing in the DeFi space, but also is invested in ETHA Lend’s success. Therefore, $XFIT token holders can also look forward to benefiting from the success of ETHA Lend, as the protocol’s success would be mutually shared.
XFai develops tooling for the DeFi space, graphing it to build game-changing products. The XFai DLO is set to invite mid and small-cap tokens to start earning APY on their token holdings, while the XFai LGE is set to become industry-first in providing a more efficient, transparent, and fair way for everyone to get involved at an early stage. The LGE for XFai’s native token, XFIT, was launched on 16th April 2021. We invite everyone to join the DeFi revolution, spearheaded by XFai.