CALLING ALL YIELD FARMERS: XEND FINANCE JUST MADE YOUR LIFE EASIER BY LAUNCHING THE FIRST CROSS-CHAIN HIGH YIELD AGGREGATOR ON BSC AND POLYGON
For years, we have experienced yield farmers move from one protocol to another in search of the best yields in DeFi. We have also looked into the Future of DeFi and we have seen that the current infrastructure will not scale to support the large expected flow of capital from traditional finance to decentralized finance.
For over six months, the Xend Finance engineering team has been researching and building what will be the solution to the yield farmers nightmare of having to constantly monitor yields and shift funds across different platforms. This will also encompass a solution to the problem of scale envisaged as capital and users flow from centralized to decentralized financial space.
At Xend Finance Engineering we broke down the current DeFi protocols into different layers: Layer-1, Layer-2, and Layer-3.
Layer 1:
A Layer-1 DeFi protocol is a singular DeFi protocol that exists in itself and does not connect to any other DeFi protocol and only interacts with users or with oracles. Examples include Compound, Aave, Venus, and Fulcrum.
Layer 2:
A Layer-2 DeFi protocol is an innovative and automated composition of multiple Layer-1 DeFi protocols within a blockchain or across different blockchains to provide higher yields than individual Layer-1 DeFi protocols. Examples include Yearn Finance on Ethereum Blockchain or Xend Finance on BSC and Polygon.
Layer 3:
A Layer-3 DeFi protocol is a composition of multiple Layer-1 and Layer-2 DeFi protocols within blockchains to interact seamlessly with another set of Layer 1 and Layer 2 within another blockchain to produce very high yields and ensure cross-chain interoperability.
Xend Finance Layer-2 DeFi protocols, deployed on Binance Smart Chain and Polygon, will ensure the highest APYs for the supported assets at all times on each blockchain.
We call on private beta users to join our waiting list of users who will be having a first-hand experience of our Layer-2 DeFi infrastructure.
Here is a sneak peek of what the User Interface looks like.
We have also added a full comparison document of our protocols’ APYs compared to Layer-1 DeFi protocols’ APYs.
Download Full PDF Comparison
See how Xend Finance’s Layer 2 DeFi protocol compares with other yield protocols and aggregators
Audits and Security
Our protocols have gone through the most extensive and rigorous audits by the most well-known smart contract auditing firms. We have been audited twice and more audits are still ongoing.
We first hired Omniscia to perform the first audit on Xend Finance’s Layer 2 DeFi protocols. They found some critical and minor bugs that our team worked extremely hard to ensure the bugs were fixed and secure.
We hired Tech Rate to perform the second audit on the Xend Finance Layer 2 DeFi protocols. They found a few minor bugs that were not seen by the first auditors and we fixed these bugs and made a few design changes.
We also hired Applicature to perform a third audit on the Xend Finance Layer 2 DeFi protocols.
To further ensure security, we are announcing a bug bounty at the end of October to make sure that as many critical eyes are focused on our protocol.
See Audit Reports in chronological order
Please fill out this form to receive a link for private beta use. On top of getting first access to our first-of-its-kind product, all selected private beta users will receive 1000 $XEND each for helping us test our highest yield aggregator and very good liquidity providers will have their addresses whitelisted for submitting governance proposals. Our whitelisted addresses will receive payouts from revenue generated from management fees charged in the protocols.
Here is the link to fill out a request for access for the beta test:
https://docs.google.com/forms/d/e/1FAIpQLSfFlxeaecF1GBf0surG8Xq5EEUSEWb6Z5NMKFyDRh-eRuz8XQ/viewform
