ETHA Lend Integrates Chainlink’s Gas Price Feed into their discovery API to provide Algorithmic Optimal Yield
ETHA Lend is excited to announce that we have successfully integrated the Chainlinks Fast Gas Price Feed on mainnet into our Yield Optimizer API. This integration gives ETHA Lend users a secure on-chain gas price, which is used by ETHA liquidity providers (LP) to build and execute algorithmically optimized yield strategies in a fully decentralized and highly available manner.
The Chainlink-powered decentralized gas price oracle ensures that the yield optimizer discovery algorithm fetches current gas prices when calculating the best way to route and split LP-supplied assets across DeFi protocols (AAVE, dYdX, and Compound). In the current iteration, the yield optimizer calculation factors in the latest gas cost (fetched from Chainlink oracle), the volatility of the asset’s current and past yield (currently up to 30 days), and the amount of assets supplied to determine the optimal asset allocation. The volatility timeframe is configurable but will use the most recent data by default at launch.
ETHA Lend’s yield optimizer aims to find the best weighting to maximize earnings by factoring in gas prices and projected yield returns from Aave, DyDx, and Compound.
You can simulate and test the performance without the need to perform any action on-chain here: Gitbook
We selected Chainlink because of its proven decentralized oracle framework, which currently secures over $6 Billion in value across DeFi among both emerging and established projects including Synthetix, DyDx, and Aave. The Chainlink architecture provides numerous features that ensure ETHA Lend is consuming secure gas prices, including decentralized oracle networks run by numerous leading blockchain DevOps teams that aggregate gas prices from multiple sources to ensure there is no single point of failure in the sourcing and delivery of the data on-chain.
“Using Chainlink for Fast Gas prices on-chain enables ETHA strategies to plan for and automate the switching costs across DeFi protocols in a decentralized manner. Optimizing yield is not only about finding the best rates, but bringing secure network performance indicators into the protocol as part of the strategies. Chainlink’s secure framework for fetching gas prices enable us to stay decentralized and secure while getting the gas data we need.” — ETHA Lend Co-Founder Chester Bella.
Chainlink is the most widely used and secure way to power universal smart contracts. With Chainlink, developers can connect any blockchain with high-quality data sources from other blockchains as well as real-world data. Managed by a global, decentralized community of hundreds of thousands of people, Chainlink is introducing a fairer model for contracts. Its network currently secures billions of dollars in value for smart contracts across the decentralized finance (DeFi), insurance and gaming ecosystems, among others.
Chainlink is trusted by hundreds of organizations to deliver definitive truth via secure, reliable data feeds. To learn more, visit chain.link, subscribe to the Chainlink newsletter, and follow @chainlink on Twitter.
Join the ETHA Lend Community
As we initially launch with stable assets mainly, we are always keen on getting feedback to improve the protocol and grow it. We are looking forward to discussing the future of ETHA Lend.
Over the upcoming weeks, we are excited to publish more details about the protocol release. If you are interested to be an early contributor you can fill-out our private sale interest form, as we have been receiving lots of requests we will prioritize entities and individuals that can add value to strengthen our ecosystem.
Until then, we are excited to start this new chapter with you guys!
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