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iGain IRS: Aave Protocol V3 Integration

As you may have known, iGain IRS integrates Aave Protocol’s lending and borrowing feature on its site.

When you lend or borrow on the platform, you are actually not lending and borrowing on iGain IRS, but rather on Aave through the Polygon network. iGain IRS only provides you the opportunity to buy Long or Short tokens, which then hedges your lend or borrow positions to make your interest rate fixed.

Yesterday, we just have upgraded Aave’s V2 model on iGain IRS to V3, the latest version of the protocol.

According to Aave, they augmented their system’s basic concepts while adding new features particularly in the following area:

1. Portal

This now allows bridge protocols in Aave, facilitating cross-chain transactions, and enabling assets to seamlessly flow over various networks.

illustration courtesy of Aave

2. High-Efficiency Mode

Also known as the “eMode”, users will have access to higher borrowing power and extract the most out of their collateral for up to 95%.

When borrowing on iGain IRS through Aave, you may now take advantage of this feature, all the while enjoying the fix borrow interest that iGain provides.

3. Isolation Mode

This restricts your exposure and borrowing only up to a certain debt ceiling. Users can only borrow assets of a specific type and cannot at the same time use other assets as collateral.

illustration courtesy of Aave

The changes were mostly related to infrastructure and security, so expect no significant difference on the interface and when browsing Aave.

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Hakka Finance

Hakka Finance

A DeFi ecosystem with remarkable products administered by the HAKKA token.