Dive into EnLight Finance
EnLight Finance is the first all-chain ETH LSD Maximizer powered by LayerZero.
With Shanghai upgrade, LSD Narrative gonna dominate the on-chain world. Let’s dive into EnLight Finance and LSD.
Part 1 — What LSD brings?
- On-chain Yield Source Staking yield can carry the yield demand of a large number of funds on-chain; the largest source of interest has surpassed lending.
2. Interest Benchmark The staking yield is much higher than the previous lending rate. After the Shanghai upgrade, it can be deemed a risk-free rate of ETH standard.
Staking yield will also be transmitted to the entire on-chain world through DeFi(like lending), becoming the Interest benchmark of the DeFi world.
With high-quality interest-earning assets like LSD, we believe there will be many innovative protocols in LSDFi. Such as:
- leveraging LSD yield
- actively managing LSD strategies
- obtaining LSD benefits in advance
- trading LSD yields.
LSD Ecosystem will increase the asset value and TVL on the chain. Bring the second DeFi Summer.
Part 2 — What is EnLight Finance?
EnLight Finance is a all-chain ETH Maximizer protocol that seek to establish a protocol that caters specifically to LSD assets, enabling them to unlock greater liquidity and a wider range of financial scenarios, while delivering higher underlying returns. By enhancing the value proposition of LSD assets, EnLight Finance is committed to promoting the success of LSD projects.
Swap ETH LSD assets cross-chain by accessing our maximizer liquidity pools
To provide liquidity to the platform, users can deposit any of the four assets: ETH/stETH/frxETH/rETH into the Maximizer pool contract. In exchange, an corresponding amount of elETH tokens are minted. The amount of elETH minted is proportional to the amount of assets deposited and the current proportion of the three assets in the maximizer pool. By providing liquidity to the pool, users can earn rewards in the form of more ELT tokens.
Stake elETH, earn real yield ELT token rewards
Farm is a feature that allows users to stake elETH to earn the platform token ELT. Compare to the ordinary LSD assets (e.g., stETH, cbETH, etc.) with 4% annualized yield, our dividend distribution mechanism brings 25%~40%+ APR rewards plus additional veELT tokens to our holders by locking up ELT.
To lock the ELT token, earn veELT to vote, boost APR or vest veELT to ELT
Users can choose the ELT lock period, locking ELT will generate veELT in addition to the income from ETH. veELT can either be exchanged back to ELT or represent the protocol governance rights and boost the ELT staking APR. This can significantly reduce selling pressure on ELT and boost the real yield of our LSD maximizer pool.
veELT can be vested into ELT over a 30 day period
In order to vest veELT into ELT, an 400% amount of ELT must first be Locked. Once the Locking requirement is fulfilled, the vesting process will commence, and the veELT tokens will vest linearly into ELT over a 30-day period. For instance, to vest 50 veELT tokens, a user must have locked a minimum of 200 ELT tokens.
Get to know more: Twitter
