Milkomeda Accelerator: Introducing Lemuria
We’re incredibly excited to announce the first members of Batch 1 of the projects to travel through the Milkomeda Accelerator program. In this piece we’re going to take a quick look into one of those projects, Lemuria Finance, who’s behind it, what they bring to the Milkomeda ecosystem, and why they were selected as part of Batch 1.
What is Lemuria?
Lemuria is the first, native, yield optimizing protocol for Milkomeda. The Lemuria protocol makes it easy for holders of assets on Milkomeda to maximize their yield as they provide liquidity to DEXs, lending platforms, and other yield farming opportunities on the sidechain by automatically compounding the interest they receive.
Users of the Lemuria platform are charged a small fee for using the protocol, but this is already deducted from the APY displayed in the interface, meaning that what you see is actually what you get. Tokens deposited by users are always in the user’s custody, represented by IVAULT tokens in their wallets.
The smart contract that manages the tokens staked to the liquidity pools automatically takes the rewards received for providing liquidity and converts them into the staked assets, adding them to the active liquidity and ensuring that there is as little downtime as possible between receiving, converting, and staking these assets; thus creating maximum yield for users.
What Lemuria Brings to Milkomeda C1
We know that users want to get the maximum utility possible out of their assets, no matter where they’re located in the crypto ecosystem. Each protocol on each chain is designed differently and each protocol will have a different reward system in place for their users, thereby requiring different yield optimizing strategies for maximum efficiency. Having a native yield optimizer available for the Milkomeda ecosystem allows liquidity farmers to take maximum advantage of what the projects and protocols on the sidechain are offering as they support the Milkomeda ecosystem.
The Team Behind Lemuria
The team behind the Lemuria protocol is a collection of developers who have a background creating DeFi protocols on EVM chains such as Avalanche and Aurora. Amongst other DeFi protocols the Lemuria team have previously designed yield optimizers and created working strategies for those yield optimizers.
The Lemuria team believe that the “Milkomeda value add is a needed thing” in the unconnected blockchain space and they are “on board with the great mission of Milkomeda”, built by a team that “builds great products”, describing the team as “really good people with a high level of trust”.
Follow Lemuria:
Website: www.lemuria.finance
Twitter: @LemuriaFinance
Telegram: /LemuriaFinanceChat
Discord: Join here
