Are you shocked by the news of Yearn Finance being hacked? Which DeFi protocol are you using at the moment?
This week, we are introducing 3 new DeFi dapps that can help you earn up to 558% APY or earn every day!
Autofarm - Let The Farm Do The Hard Work For You
Autofarm is a yield farming aggregator running on BINANCE Smart Chain which is going to be listed and tracked on dapp.com this week. It aims at optimizing DeFi users’ yields as they interact with the other DApps in the DeFi space.
Autofarm was initiated on Binance Smart Chain with the goal of optimizing DeFi users' yield farming at the lowest possible cost (All APY & APRs shown have already included fees).
Autofarm Vaults is a yield optimizer platform focused on providing DeFi users with auto-compounded yields at empirical optimal intervals, whilst pooling gas costs through battle-tested smart contract code and best in class yield optimizing strategies. Autofarm uses a proprietary dynamic harvesting optimizer to enable the highest APYs on vaults.
Currently, the highest APY is 558.3% of the WBNB-AUTO LP. In all the farming pools, besides APY, you can farm AUTO token, the native token of Autofarm. Autofarm started with no pre-farm nor pre-sale. 88% of the total supply is available for the vault token mining program. 12% of the tokens are dedicated to the team to ensure sustainable and rapid innovation.
Autofarm has also planned to launch AutoSwap, a DEX aggregator that aims to be the best DEX aggregator on Binance Smart Chain, providing you the best prices from your DEX trades.
It can be compared to the Uniswap on Binance Smart Chain and has great potential in the future.
KeeperDAO - Combine Yield Farming And Arbitrage Profits Together
KeeperDAO is an on-chain liquidity underwriter for DeFi. Using KeeperDAO, you can pool your assets to earn passive income through liquidations, arbitrage, and other opportunities from all across DeFi.
KeeperDAO’s utility token ROOK price went up by 5.9% in the past 7 days. The token price has shown a close correlation with its on-chain users, transactions and volume: 7d users increased by 32.32%, 7d transactions increased by 35.64%, 7d volume increased by 8.42%.
The total value locked in KeeperDAO worths $203.05M, which ranks No.16 among all the DeFi and DEX, ahead of 0x Protocol and Kyber Network.
So what are the core functions of KeeperDAO? How to earn with it?
- Liquidity Pool
The liquidity pool is the entry point for most users. You can become liquidity providers and deposit assets into KeeperDAO, pooling your assets together to collectively earn a profit. Whenever positions go into liquidation on lending protocols, arbitrage appears between DEXs, or other similar opportunities present themselves on-chain, KeeperDAO uses its pool of deposited assets to capture the opportunity and earn profit. In between such opportunities, the pooled assets are lent out on various other DeFi protocols to accrue interest while not being used, which ensures that KeeperDAO is always earning profits to its liquidity providers.
Now it supports liquidity for ETH, WETH, USDC, renBTC and DAI. The max APY so far is 42.98% of the DAI pool.
Here’s an example of the ETH pool.
When you deposit ETH, you should notice that you have received kETH in return. These are known as kTokens, and they represent your share of the underlying tokens in the liquidity pool, including all future profits that are earned by the pool.
- Under-Writer
Compound, MakerDAO, and other DeFi protocols require user positions to be liquidated if their underlying collateral becomes worth too little. In KeeperDAO, under-writers are special contracts that "wrap" user positions using the KeeperDAO protocol. This allows keepers to safely close user positions without liquidating them, minimising user losses, especially in volatile markets. In return, the under-writers charge a small fee.
- Yield
Not all assets in the liquidity pool will be utilized by keepers at all times. To maximize profitability, KeeperDAO takes under-utilized assets and distributes them to yielders. These contracts are custom integrations that deploy assets to other yield-generating protocols. This could be through lending, automated market-making, automated portfolio management, and so on. Anyone is able to develop, test, and propose a yielder for integration into KeeperDAO, and the KeeperDAO governance mechanism is responsible for determining how many assets are deployed to which yielders.
The code of KeeperDAO has been audited 3 times by independent third parties - samczsun, Quantstamp and PeckShield.
Sablier Finance - Stream Your Payday Everyday
Sablier Finance defines itself as real-time finance, a term that emphasizes the wide-ranging use cases for the Sablier protocol. It also creates a new term “money streaming”, just like you stream movies or TV shows on Netflix.
The daily volume of Sablier Protocol on 25th Jan surged to $83.82M.
How does its money streaming work?
You can access Sablier Finance through 2 web interfaces: The pay.sablier.finance interface is for streaming money; the app.sablier.finance for withdrawing the streamed money.
You’ll need an Ethereum wallet, some ETH and an ERC-20 token like DAI to create the money streaming. You have full control over the start time - a unix timestamp measured in seconds. The Ethereum transaction that creates the stream must be processed by the blockchain before this start time.
Dividing the lock-up value by the difference between the stop time and the start time gives a payment rate per second. Sablier uses this rate to transfer a little bit of money from the sender to the recipient once every second. The money is all held in Sablier’s smart contracts.
As the money is being streamed at the smart contract level, you can consider Sablier as your real-time wallet for digital currency. To make withdrawals, you can either call the contract directly on a blockchain explorer or use a web interface, the app.sablier.finance we mentioned above.
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