Connext partners with OptyFi: earn the best yield on LSDs from any chain
Chain-abstracted vaults are coming to OptyFi
What is OptyFi
OptyFi is a Decentralized Finance (DeFi) platform designed to simplify access to DeFi investment opportunities through automation and intelligent strategy optimization.
The platform offers users a passive “set-and-forget” DeFi experience through its vault system that aligns with individual risk profiles. Users deposit their assets into a vault, and the platform’s advanced AI technology stack continuously manages and optimizes DeFi strategies to generate optimal returns.
Key elements of OptyFi include its AI Engine and the Strategy Graph.
The AI Engine is equipped with machine learning algorithms that constantly scan liquidity pools in the Strategy Graph, forecasting returns for different strategies and recommending optimal strategies to vaults.
The Strategy Graph, which expands with every new liquidity pool integrated with the protocol, visualizes the universe of possible strategies. Additionally, OptyFi’s risk framework screens strategies based on specific vault constraints, ensuring that the DeFi strategies recommended align with the risk profile of each vault. This unique approach provides users with a customized and dynamic DeFi investment experience.
OptyFi’s V2: chain-abstracted LSD Alpha Vaults
The recent surge in interest surrounding Liquid Staking Derivatives (LSD) or Liquid Staking Tokens (LST) presents an opportune time for the upcoming OptyFi’s V2 vaults.
These innovative vaults are capable of intelligently scouting, accessing, and managing the highest yield on particular LSDs, such as stkETH on Ethereum, sGNO on Gnosis, stMATIC on Polygon, among others.
Until now, these vaults could only be accessed on the specific blockchain that the LSDs originated from. This was due to the fact that these tokens were derived from staked tokens on a particular blockchain.
Thanks to the integration of Connext’s Chain Abstraction Toolkit, this limitation no longer exists.
Consider, for instance, a user seeking to maximize yield on a liquid staked Gnosis token (sGNO, offered by Stakewise).
The process is now rather convoluted: the user is required to transfer their funds to the Gnosis Chain using a bridge, then acquire gas tokens (GNO), followed by swapping their existing asset for mGNO. Following this step, they had to provide liquidity for mGNO/GNO on an Automated Market Maker (AMM), and with the obtained LP tokens, they could finally mint sGNO.
However, the integration with Connext has streamlined this complex process.
After the integration, it will be as simple as a one-click activity, where users pick the tokens they possess, irrespective of the chain they are on, to finance the OptyFi vault.
Connext and OptyFi hide the intricate process of bridging, swapping, and staking, delivering a user experience that is both seamless and devoid of friction — truly accessible to everyone.
WhatsNext for a crosschain OptyFi?
The teams at Connext and OptyFi are exploring further xCall use cases, Connext’s primitive for creating cross-chain applications.
The prospective enhancements include the upgrade of $OPTY, Optyfi’s forthcoming utility token, to a cross-chain token. This significant enhancement will facilitate the seamless movement of $OPTY across any chain with zero slippage.
This development will further enhance the experience of OptyFi users, allowing them to transfer the token to the vault/chain that optimizes their rewards.
As OptyFi’s strategies and architecture continue to evolve, the platform will also introduce cross-chain native strategies. This advancement will establish OptyFi as a comprehensive cross-chain DeFi aggregator, enabling the secure transfer of funds across chains to exploit the most lucrative opportunities.
OptyFi stands as one of the most intriguing emerging projects in the market, boasting proven technology and the promise of powerful features slated for imminent launch.
We eagerly look forward to working with their dynamic team and are enthusiastic about the prospects this collaboration will offer to our community — stay tuned for more details in this area.
About OptyFi
OptyFi is a protocol for automated yield maximization. It aims to make decentralized finance (DeFi) more accessible to users by providing a platform where users can automate their investment strategies.
Website | Twitter | Blog | Discord
About Connext
Connext is a crosschain messaging protocol that enables secure communication between chains and rollups. It’s the only developer-focused solution that offers cost-effective interoperability without introducing new trust assumptions. Its network has successfully facilitated over $2 billion in transactions.
Website | Build xApps | Twitter | Discord | Crosschain Bridge
