DeFi Basket eases the utilization of jFIATs to access yield and liquidity, by allowing to build a portfolio in one transaction!
We are very excited to share that the protocol and its jFIATs have been integrated into DeFi Basket, a platform allowing to build a portfolio of crypto-assets, including yield-bearing ones, in one transaction. This last integration provides more usability to our jFIAT, allowing anyone to access yield or to buy multiple asset in one transaction, from any jFIAT.
An easy to use portfolio-builder
DeFi basket is a platform to easily create and manage a crypto portfolio.
In one transaction, a user can create a portfolio by selecting multiple assets with the desired allocation. For example, starting with 1,000 USDC, a user can create a portfolio with 30% of WBTC, 20% of WETH and 50% of MATIC. DeFi Basket will execute the necessary swaps to build this portfolio.
Then, the user could modify its allocation, always with a single transaction! For example, they can set their BTC allocation to 0%, and their WETH allocation to 50%; in this case, DeFi Basket will swap the BTC for ETH.
Bundle complex transactions
DeFi Basket innovates by allowing users to build portfolios with yield-bearing assets!
For example, a user can create a portfolio with aWBTC (WBTC deposited into Aave). When a user selects aWBTC, DeFi Basket will purchase WBTC and then will deposit them into Aave, in a single transaction.
DeFi Basket is also capable of supplying liquidity, and staking the LP token to earn yield. For example, users could, in one transaction, buy WBTC and renBTC, supply liquidity on Balancer, and stake the LP token in Harvest.
Therefore, DeFi Basket could also be used for easing farming!
Integration of the Jarvis Network
DeFi basket has natively integrated our protocol, allowing them to mint and burn jFIATs. This integration allows for a few use cases, that provide jFIATs with more utility!
Using jFIATs to build a portfolio
User can create their portfolio starting from jFIATS. DeFi Basket will burn them to release the USDC, and then will purchase the tokens chosen to create the portfolio.
This is particularly powerful when combined with our fiat on and off-ramp powered by Mt Pelerin.
For example, starting with 1,000 Euros, one could buy 1,000 jEUR from Mt Pelerin, and then build a portfolio with 40% of AAVE, 30% of JRT, and 30% of QI, using DeFi Basket.
Simplify farming of jFIATs
By integrating with Harvest and Curve, DeFi Basket allows users to participate in Jarvis’ liquidity mining program in a single transaction!
For example, it helps users to join the 4eur pool on Harvest with just one transaction, either starting with jEUR, or with any other token like USDC or MATIC! DeFi Basket will mint jEUR (if the user starts with another asset), deposit them into Curve, and then into Harvest, to start earning yield.
Combined with Mt Pelerin’s fiat on-ramp, it allows users to earn yield on their Euro in the easiest way! This is by far the integration that brings the most user friendly way to use jEUR, and opens up the door to less savvy users into the Jarvis’ ecosystem!
About DeFi Basket
DeFi Basket enables building, copying, and managing a decentralized finance (DeFi) portfolio in a single transaction, including actions like adding liquidity, staking, and minting stablecoins. A total of 11 protocol integrations are built into the product, and it is only starting. Its mission is to make DeFi investing accessible to anyone, delivering the best yields and financial products in the simplest of ways.
- Contact: João Ferreira, joao@defibasket.org
- Visit defibasket.org
About Jarvis Network
Jarvis Network is a set of protocols and applications on EVM-compatible chains to bridge legacy and decentralized finance (DeFi). Its mission is to build an infrastructure layer that can be leveraged by anyone to develop use cases facilitating the adoption of DeFi, and to build applications to onboard the next billions of users. Its first protocol, Synthereum, pioneers an innovative and capital-efficient manner to issue and exchange synthetic fiat currencies called jFIATs, thanks to a fully on-chain Forex market. jFIATs are stablecoins designed to be usable: they keep their peg, are highly liquid, and are scalable.
- Contact: Pascal Tallarida, pascal@jarvis.network
- Visit our jarvis.network
