EHA Lend, a combinable DeFi Revenue Optimizer Built on Ethereum and Polkadot, it was announced today that Chainlink Keepers will be integrated on Ethereum to automate key protocol functions.
The integration will start with the promotion of the regular income harvest of ETHA Lend vault and the implementation of a rebalancing strategy in the supported loan market.
Chain chain Goalkeeper Use decentralized non-computing to monitor predefined events to automatically trigger on-chain operations when they are discovered-all in a low-cost, highly reliable, and fully verifiable manner.
ETHA Lend Revenue Optimizer optimizes revenue by using DeFi protocols (such as Aave, dYdX, Cream Finance, and Compound) to execute algorithm-optimized revenue generation strategies in a decentralized manner.
Chainlink Keepers + ETHA Lend
Chainlink Keepers considered several parameters to determine the best strategy for the ETHA Lend vault, including the latest gas cost (obtained by Chainlink oracle), the volatility of asset yields, and wBTC and wetness.
The first process to be automated will be the harvesting and rebalancing function. Yield is harvested 1-2 times a day, and the rebalancing is automated. This will result in a more efficient treasury and fewer manual intervention requirements, as well as more reliable revenue payments and timely rebalancing.
Automatic harvesting and rebalancing requires a solution to monitor various conditions such as time or market events, and then call the ETHA Lend smart contract when these conditions are met. These processes require the use of external robots called Keepers, which perform tasks on behalf of smart contracts.
After evaluating several solutions, ETHA Lend chose Chainlink Keepers because of the features it provides:
- High uptime — Chainlink Keepers are operated by the same professional DevOps teams that have a proven history of on-chain performance and provide high reliability for Chainlink price feeds during periods of extreme network congestion and market fluctuations.
- Low cost — Chainlink Keepers has multiple gas optimization functions, which can reduce the cost of users’ automated maintenance tasks, including the rotation node selection process, to prevent gas price auction battles and stabilize costs.
- Decentralized execution — Chainlink uses a decentralized and transparent Keepers pool to provide a strong guarantee for the automation of security contracts, saving team time and reducing risks caused by manual intervention or centralized servers.
- Scalable computing — Chainlink Keepers performs off-chain calculations and generates call data that can be verified by smart contracts, enabling developers to build dApps with minimal trust at a lower cost.
“Integrating Chainlink Keepers will enhance ETHA Lend by automating output harvesting and output strategy rebalancing in a trustless and efficient manner. The historical reliability of Chainlink services and its optimization of decentralization and low cost make Chainlink Keepers logical The choice ultimately releases valuable development resources, which can be used to further optimize our core agreement and revenue strategy.”
– Danny Boahen, co-founder of ETHA Lend