1/ Element Finance is in the process of integrating our markets with @GearboxProtocol. In the meantime, our LPers have been whitelisted for Gearbox Protocol’s Credit Account Mining program! What does this mean for Element's community? Read on to learn more 👇
2/ Gearbox allows users to borrow up to 5x of their initial deposit and use these borrowed funds as their assets across different DeFi platforms.
3/ Once Gearbox integrates our products, Element users will be able to take larger Fixed Rate positions, stack up more Yield Tokens, or implement their favorite Element strategies with the added size of Gearbox-borrowed funds!
4/ Currently, borrowed funds are available for use in Curve, Uniswap, Sushiswap, and Yearn, on Ethereum Mainnet.
They’re also going to be integrating Element’s products into their protocol, so stay tuned!
5/ Follow the guide below to find out if you’ve been whitelisted and how you can participate:
1/ We’re excited to announce that L2 scaling is coming to Element through @aztecnetwork!
Lower gas costs have been one of the most awaited features by the Element community, and we’ve chosen Aztec as our first exploration into L2 scaling solutions.
2/ Element transactions with Aztec will be batched into rollups that will be scheduled to run based on the relative demand per asset. This means that as demand grows, batches will run more frequently and become larger resulting in cheaper gas costs per transaction.
3/ After careful analysis, we’ve come to the conclusion that the integration with Aztec Network could bring gas savings ranging from 6x to 40x on average, depending on the specific term and asset.
1/ We’re happy to share that the @componentfi team has launched the first iteration of a Yield Token Compounding (YTC) tool built on top of Element finance that you can try today.
Follow the 🧵and find out how a user got 9% variable exposure to $134K by spending $3.4K.
2/ Before we dive into the thread, remember that YTC is the action of a user recursively Minting and Selling their Principal Tokens(PTs) into the AMM to increase the overall quantity of their Yield Tokens (YTs), in result, increasing their yield exposure.
3/ In the current case, the user started off with an initial amount of crv3Crypto: 8.8414.
At a market value of $1,855 per crv3Crypto this accounted for $16,400 ($1,855 x 8.8414).
The Starting Fixed Rate observed on Element’s markets was 3.51% and the Variable Rate was 13.83%.
2/ The vault is currently netting ~3.90% APY and ~4.5% fixed APR. With a total duration of four months and a half, the new term will be live until the end of January.
3/ You can easily deposit by first going to app.element.fi/earn, and then clicking on “Show” under the USDC v2 Jan 28, 2022 Term Vault.
3/ Element takes a different approach to how voting power is allocated by introducing different options to execute transactions at various security levels. More granularity opens a world of possibilities 🚀🚀🚀!