In the rapidly evolving world of DeFi, idle assets are increasingly viewed as a missed opportunity. At EraLend, we are introducing a revolutionary shift that aims to maximize the potential of these assets.
Starting today, users will have the option to supply SyncSwap LP positions to EraLend, beginning with SyncSwap USDC-ETH. This is a step towards the concept of superfluid collateral, a new form of collateral that can serve as a guarantee for loans while also generating yield elsewhere.
By leveraging assets for diverse uses simultaneously, we can unlock greater liquidity, reduce borrowing costs, and optimize capital yield.
Key features of our new offering:
- Supplying SyncSwap LP Positions: Users can now supply SyncSwap LP positions to EraLend while keep earning LP trading fees, beginning with SyncSwap USDC-ETH.
- Borrowing Against Collateral: Our contract is designed to allow depositors to borrow USDC/ETH, using their SyncSwap LP tokens as collateral.
- Potential Future Airdrops: Depositors have the opportunity to claim potential future airdrops within the zkSync ecosystem.
- Dual Farming Mechanism: We’re planning to introduce a dual farming mechanism with $ERL and $SYNC in the future.
Providing liquidity in DeFi has emerged as a significant activity. We at EraLend strive to evolve as the paramount liquidity hub within the zkSync ecosystem by offering an unrivaled blend of capital efficiency and security.
We are aware of the potential risks this model may carry, including the issue of rehypothecation and the risk of failure at any link along the chain leading to the failure of all downstream assets. However, we believe that through public, transparent, and auditable methods, we can track and quantify risk, thereby managing it more effectively.
We’re grateful to our community and partners for their ongoing support as we continue to innovate in the zkSync ecosystem.
EraLend is pioneering the DeFi space as the first native decentralized lending protocol on zkSync. As a community-centric lending protocol, Eralend strives to evolve as the paramount liquidity hub within the zkSync ecosystem.