GM, this is your Daily Bolt briefing.
In an ideal world, liquidity inflows seamlessly between blockchains, enabling a chain-agnostic experience. But this is yet to happen, and capital remains allocated to ecosystems specific to each L1, L2, etc. It can be hard to keep up with multiple DeFi environments. So today, we’re providing you with updates and info from multiple projects in both the Polygon/ Polygon zkEVM and Optimism.
Stay sharp in the markets ⬇️
2/ Subli - Vesper & Metronome : The Optimistic podcast
Preview: Subli hosts Jeff to discuss Vesper, Smart Contract Strategies, and more! Click here to listen to the full episode (57 mins).
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Here are some key takeaways:
Vesper Finance is a platform for easy-to-use Decentralized Finance (DeFi) products.
Jeff explains that Vesper is a yield aggregator where users deposit different crypto assets, which are then sent out to different DeFi protocols like Compound and Aave via smart contract yield strategies.
These strategies generate yield, which gets compounded for the user and delivered as more of the underlying token. Vesper is made to be safe and dependable, so users can feel secure and worry-free.
Subli says that Vesper aims to simplify the onboarding process for DeFi users by letting them deposit and forget about their stakes.
Jeff agrees and explains that initially, Vesper was meant for people who aren't confident in handling their investments or doing thorough research on other platforms. But they've also noticed that other protocols appreciate Vesper's emphasis on security and use it to enhance the returns of their own offerings.
Subli brings up Vesper's integration with Alchemix, a protocol for self-repaying loans.
Metronome DAO is a DeFi ecosystem powered by the Synth Protocol, METDAO, and the MET Token.
Subli highlights the value of earning yields passively and asks Jeff to explain Metronome, a Collateral Debt Position (CDP).
Jeff explains that a CDP allows you to deposit collateral and mint an asset against it, always ensuring that the collateral value is more than the minted asset's value.
He says that Metronome specializes in using productive collateral and supporting multiple types of synthetic assets. Jeff highlights that users can deposit most of the Vesper pool share tokens into the Metronome as collateral and keep the yield from their collateral.
1/ Polygon DeFi - zkEVM Mainnet Beta DeFi #onPolygon MEGA Spaces
Preview: Pablo, Kila, Andy, Yoshi, and Irene talk about the innovations on Polygon DeFi and more! Click here to listen to the full episode (65 mins).
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Here are some key takeaways:
Irene explains her role as the head of strategy at LayerZero, a close partner of Polygon zkEVM team. She mentions their collaboration with other projects like Angle and Beefy and how LayerZero facilitates the seamless transfer of tokens across multiple chains. She expresses excitement about discussing different trends in the Polygon ecosystem and the role of LayerZero.
Irene says that many projects want to adopt the Omnichain Fungible Token (OFT) standard for their LST protocols. The adoption of OFTs, according to Irene, greatly benefits the Polygon ecosystem by extending tokens to multiple chains and simplifying transactions.
Asif mentions that during the initial call about Merkl with Pablo and the Angle team, he learned that Merkl isn't meant to compete with other AMMs, but rather build alongside them. He sees significant potential for improvement in the AMM scenario, particularly on platforms like GammaSwap on Polygon, and believes that future developments will further enhance the liquidity provider (LP) experience.
Andy hypothesizes that the yields from diverse partnerships and strategies could attract yield farmers due to the variety of options available. He states that many teams are looking for ways to attract Ethereum mainnet whales to their protocols. He suggests that protocols operating on Layer-2, such as Polygon zkEVM or Optimism, are moving in the right direction. He questions how the others are strategizing to attract DeFi money or yet-to-invest funds, including institutional money or smaller funds.
The Beefy representative explains that the key to their success is staying focused on relevant trends and ensuring that the products they develop are what users want. Beefy also emphasizes the importance of security. He adds that the protocol will be deployed on Polygon zkEVM soon.
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