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Crypto Shuttle News

Tag: Vault

  • Crypto traders can mitigate risk with PODS’ FUD Vault

    Crypto traders can mitigate risk with PODS’ FUD Vault

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    The team of Pods recently announced the mainnet launch of its 3rd strategy on Pods Yield: FUD Vault, which now complements ETHphoria and stETHvv.

    FUD Vault provides a way for users to benefit from market downturns by offering a mechanism to hedge against significant price drops in ETH while preserving the deposited principal.

    Who is this product for?

    The FUD Vault is designed for individuals who have uncertainties about the future performance of ETH and want to find a way to potentially profit even when the market is experiencing a downward trend.

    By depositing funds into the FUD Vault, users can take advantage of a specific strategy that aims to mitigate the risks associated with a falling market.

    Therefore, if you feel uncertain or skeptical about the future performance of ETH and desire a strategy that allows for potential profit-making during market declines, the FUD Vault could be a suitable option.

    Product Values

    The FUD Vault offers several key values to its users:

    • Simplified Strategy: By consolidating a single strategy into one token, the FUD Vault enhances both DeFi composability and user convenience. Users can easily manage their deposits by transferring them between addresses, utilizing them as collateral on other protocols, and effortlessly verifying their holdings within a specific strategy. The aim is to streamline the user experience and provide a seamless interface for interacting with the vault.
    • Access to Intricate Strategies: With just a single click, users gain access to intricate strategies within the FUD Vault. These strategies are designed to optimize returns and navigate the complexities of the market. By offering these strategies in a user-friendly manner, the vault allows users to benefit from sophisticated investment approaches without needing in-depth knowledge or expertise.
    • Flexible Withdrawal: Users can withdraw their funds from the FUD Vault at any point after the deposit has been processed. This feature ensures that users maintain control over their assets and can access their funds whenever they need them.
    • Transparent Historical Returns: The FUD Vault provides users with a clear display of actual historical returns. This transparency allows users to assess the performance of the vault and make informed decisions about their investments. By presenting accurate and up-to-date information, the vault aims to build trust and confidence among its users.

    How FUD Vault Operates

    When you deposit USDC the vault immediately invests in Aave. Then, it utilizes the entire lending yield generated by Aave for purchasing ETH put options. These put options have a delta ranging from 0,03-0,12 and a maturity period of one week.

    In simple terms, the put options act as a form of insurance against a significant drop in the price of ETH. If the price of ETH decreases by more than 10% within the one-week timeframe, the put options are exercised and the resulting profits are distributed to the depositors of the FUD Vault.

    Summary

    The FUD Vault offers a user-friendly experience, providing convenient deposit management, access to intricate strategies, flexible withdrawal options, and transparent historical return information.

    These values ensure that users can easily navigate the vault, make informed decisions, and enjoy the benefits of the platform’s offerings.

    About Pods:

    Pods make structured products for crypto assets that are easy to use and seamless. Co-founded by Rafaella Baraldo, Robson Silva, and Guilherme Guimarães, the team has developed some of the most innovative and secure tools in DeFi. The success of the products, security audits, and brand efforts, have set a new standard for building DeFi methods in this rapidly expanding sector. Security audits conducted by OpenZeppelin further demonstrate the commitment to safety and reliability. Pods continue to focus on infrastructure and serving professional clients and investors looking to diversify their portfolios.

    Contracts

    The vault has undergone four audits by leading audit firms, including OpenZeppelin and ABDK. Audit reports are available at https://github.com/pods-finance/yield-contracts/tree/main/audits

    The open-source contracts can be reviewed at https://github.com/pods-finance/yield-contracts 

    Join the Pods community on Twitter



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  • Polygon Opens Vault On MakerDAO, Commits $50 Million Worth Of Matic Tokens

    Polygon Opens Vault On MakerDAO, Commits $50 Million Worth Of Matic Tokens

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    Polygon has announced the integration of yield optimization vaults on the Maker Network. The blockchain-enabled protocol, formerly referred to as the Matic Chain, tweeted on Wednesday that it “will be opening a vault on Maker” and investing $50M of MATIC tokens as agreed liquidity from the treasury.

    With the recent integration, it means the protocol has now broadened in scope, vision, and transformation to become an Ethereum scaling aggregator.

    Related Reading | Scaramucci’s Skybridge Capital Launches Ethereum Fund

    Such feet, among others, would see the protocol network providing developers with L2 solutions. This will be in addition to the POS/Plasma chain – mainnet, launched in April 2020.

    Key Terms Explained

    About The Polygon

    Polygon provides the core components and tools to join the new, borderless economy and society. Two key platforms materialize it: The polygon framework and the Polygon protocol.

    With these technologies, any project can quickly spin up a dedicated blockchain network that combines the best features of “stand-alone blockchains (sovereignty, scalability, and flexibility) and Ethereum (security, interoperability and developer experience).”

    Plus, these blockchains are friendly with all the existing Ethereum tools such as Metamask, MyCrypto, Remix, etc. So again, the exchange of information among themselves and with Ethereum is facilitated.

    Related Reading | Why Terra (LUNA) Will Reward Users With New Community Bounty Program

    Summary: Polygon is a blockchain protocol and a framework for creating and connecting Ethereum-compatible blockchain networks.

    One is collapsing together scalable solutions on Ethereum and supporting multiple chains in the Ethereum ecosystem.

    What Is Matic Token?

    MATIC, the native token of Polygon, is an ERC-20 token running on the Ethereum blockchain. The tokens are used for payment services on Polygon and as a settlement currency between users who operate within the Polygon ecosystem.

    Polygon Opens Vault On MakerDAO, Commits $50 Million Worth Of Matic Tokens

    MATIC set to follow an upward trend in the daily chart. Source: MATICUSD Tradingview

    This has turned out to be quite positive for the MATIC community as the token as hovering in the green-zone marking 1% of growth at the time of writing this article.

    As an integral part of the announcement, $50M of MATIC tokens have been committed by Polygon on the newly opened vault on Maker.

    About MakerDAO

    MakerDAO is an organization developing technology for borrowing, savings, and a stable cryptocurrency on the Ethereum blockchain.

    It has created a protocol permitting anyone with ETH and a MetaMask wallet to loan themselves money in the form of a stable coin referred to as “DAI.”

    Related Reading | Ethereum Upgrades Could Jumpstart $40 Billion Staking Industry, JP Morgan

    By integrating loans with a stable currency, MakerDAO typically allows anyone to borrow money and reliably predict how much they had to pay back. This alleviates the fear that used to come in the era of crypto to crypto borrowing.

    Polygon Is Elated

    Polygon board, opening a vault on Maker and committing $50M of MATIC tokens as seed liquidity from the treasury, sincerely thanks the MakerDAO community and team.

    They appreciate the effort to quickly process the entire governance activities/polls and their feedback to onboard MATIC as collateral.

    “This is a crucial development in Polygon’s long-term vision and commitment to develop the Ethereum scaling landscape and entice the gifted builders and engaged community members,” the board reveals.

    Following this, Polygon will be minting DAI, which will invest in the Ethereum ecosystem.

    Vault Projects On Polygon

    Similarly, there are few other networks opening vaults on polygon technology. Beefy Finance, for instance, launched its first Beefy yield optimizing vault In Polygon on the 28th of April, 2021.

    The finance tech is a Decentralized, Multi-Chain Yield Optimizer platform that allows its users to earn compound interest on their crypto holdings. In addition, it has launched a new Ape Swap vault deployed on Polygon.

    Quarries On The Project

    Despite the attractiveness, there have been some skeptical postures on the project.

    Many keen crypto lovers and observers are quarrying that, If approved, would Polygon utilize this class of vault themselves?

    Are there any specifically identified users – individual or entity – who have expressed an intention to use this class of vault if MakerDAO onboarded this collateral? Well, for now the MATIC community seems to be appreciating the latest development.

    Featured image from Pixabay, chart from TradingView.com



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