Konomi, a cross-chain cash market platform developed on Polkadot’s Substrate framework, has partnered with protocol-agnostic yield optimizer ETHA Lend, to deliver new alternatives to liquidity mining and DeFi yield optimization.
EHTA Lend introduced the partnership in a weblog publish on Monday, March 22. In accordance with the announcement, with this strategic partnership, ETHA Lend and KONOMI shall discover the idea of maximized interoperability between each platforms and the entire Polkadot ecosystem.
ETHA Lend is a protocol-agnostic DeFi yield optimizer powered by each Ethereum and Polkadot ecosystems. The platform’s defining function is its very smart discovery algorithm that elements in all of the important margins like fuel price, volatility, yield, and quantity to supply optimum asset allocation for wonderful yields.
As a protocol-agnostic platform, ETHA Lend can simply be upgraded to combine new DeFi protocols and universally work together with them to maximise yield. It will permit the platform to evolve into a comparatively easy but good channel for liquidity suppliers to work together with a number of protocols on a single platform.
The challenge is at the moment within the Alpha part on Ethereum with a mainnet launch scheduled in Q2 2021. The crew additionally has plans to increase the protocol on the Polkadot community to leverage cross-chain communication to deal with extra time a much bigger market.
KONOMI is a decentralized liquidity and cash market protocol for all cross-chain crypto property that permits customers to commerce cross-chain property by means of good contract-based liquidity protocols beginning with fixed product automated market makers.
The challenge is at the moment within the testnet part, with the mainnet anticipated to be launched in Q3 of 2021 as Polkadot parachain. After that, the protocol will even provide lending and borrowing providers through the use of DOT tokens as default collateral and asset administration by means of Konomi Pockets.
In accordance with ETHA Lend, “this partnership will empower each ETHA Lend and KONOMI to current a extremely suitable, agile, and environment friendly panorama to liquidity mining, DeFi yield optimization, and the broader DeFi area.”
In accordance with Jayden Antonio, COO of KONOMI, yield farming is the most popular panorama of DeFi however an “intimidating prospect for the common consumer attributable to its many complexities.” He additional stated:
“Contemplating that ETHA Lend presents a fascinating imaginative and prescient and revolution to make yield farming a chic and accessible panorama for all members, we imagine that we share excessive concord with the ETHA Lend crew, particularly when it comes to remedying the shortage of interoperability within the present DeFi area. We’re optimistic that the ETHA Lend platform is a superb challenge with a transparent first-mover benefit as a DeFi yield optimizer.”
As reported, Konomi will even combine Chainlink Value Feeds to make sure honest market costs for its cross-chain cash markets.
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