Opium Turbo AAVE
The second of our Turbos with Aave governance token as a collateral
It’s been less than a week since the launch of Opium Turbo ETH, the very first Turbo product we prepared to allow crypto owners to earn a return on their Ether and risk-seeking investors to get highly leveraged daily exposure of 10x-30x.
The success has been overwhelming. Stakers have already received interest –based on several days, the APR is 272%–and Turbo products are sold out daily. Encouraged by the attention, we decided to launch the next Turbo straight away. For this, we collaborated with our long-time partner Aave, the largest protocol for lending and borrowing crypto.
On the ETH pool stakers have already received interest–based on several days, the APR is 272%–and Turbo ETH is sold out daily.
Aave tokens looked like a natural match: an innovative protocol with millions in turnover, it can boast one of the largest and most loyal communities. Recently, the protocol moved to Polygon to allow for higher scalability and wider user adoption — we did the same earlier this week, driven by the same reasons. The move brought a sizable benefit to users, effectively lowering transaction costs to near zero, which helped Aave reach $1b within a short period of time.
Aave has its own governance token on Polygon, and it is this token that will serve as collateral for Opium Turbo AAVE in the staking pool. This staking pool should statistically earn interest from selling weekly Turbos to the market. Purchasers of Turbo AAVE tend to be more bullish on the performance and can get significant leverage of 10–30x if the price exceeds the strike price at the end of the week.
Turbos and Staking pool split users into risk-takers and risk hedgers, respectively.
Always make sure that you fully understand market risks before participating. Turbos can bring a very high return, but also can lead to a loss of the purchase price if the condition is not met — namely if the price does not exceed the strike price at the end of the week. On the other hand, the staking pool can offer a statistically stable return on staked crypto, without exchange risks to other crypto, but it is worth checking risks, terms and conditions before participating.
How to get and use amAAVE tokens
- Move your AAVE tokens from Ethereum to Polygon using
Matic Bridge V2 https://wallet.matic.network/ - Deposit your AAVE tokens into Aave Protocol on Polygon and receive amAAVE in return, which farms MATIC token
- Go to Opium.Finance to stake or purchase Turbo AAVE with your amAAVE tokens
Read more
Introducing Turbo ETH on Polygon
Opium Protocol is on Polygon (ex-Matic)
Stay tuned
Opium Protocol is a universal and robust DeFi protocol that allows for creating, settling, and trading decentralized derivatives.
Explore Opium Protocol or try out Opium Finance.
Stay informed and follow Opium.Team on Twitter.
Did you know that you can subscribe to our News Channel to get more exciting news delivered to your morning coffee?
