Ask Me Anything with ETHA Lend at ICO Speaks: Summary

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ethalend ama at ico speaks
ethalend ama at ico speaks
August 25-th   held an Ask Me Anything session at ICO Speaks telegram chat. From

 

👨💻Hello folks, I am Chester Bella, Co-founder and lead product developer of ETHA Lend. Thank you so much for having me here today! It’s a pleasure to bring our protocol to you so that you can join us on this journey of making DeFi simple, elegant, accessible, and truly rewarding.

 

👨 Hey Guys, I’m Felipe Gomez, the CTO of ETHA Lend. Thank you for having me!👋

I’m  looking forward to answering your technical related questions


                                           Let’s get started!

Q: Can you please do a super quick intro to ETHA Lend for those community members who are new to the project? 

A: ETHA Lend is a DeFi yield optimizer. Here’s a brief on what exactly a yield optimizer is:
A yield optimizer leverages next-gen automation to gain the maximum possible (or highest possible) return on users’ assets. Moreover, it does the job much more efficiently compared to manual means. 
As a yield optimizer, ETHA Lend leverages automation, hybrid strategies, technological innovation, and the best practices of DeFi to provide the users with yields that are not only high but sustainable in the long run. 
ETHA Lend helps you save time and transaction fees, maintains a healthy balance between assets and returns, self-optimizes the best possible yields, and automatically reinvests it for even more earnings. Moreover, thanks to our discovery algorithm, the protocol can do it over and over again, more than 1000 times a day. Now that’s humanly impossible. Not to mention attempting this manually would result in large potential inefficiencies. 
ETHA Lend offers complex strategies that are simple and intuitive for any user to take part in through eVaults and other features on the platform. 
I hope this gives you a better picture of the potential behind the protocol; what I just explained is just the tip of the iceberg. There is so much more than our features offer, like a completely non-custodial smart wallet that automatically batches transactions. 


Q:The ETHA team likes to work hard behind the scenes for its community, from what I have seen. So would you please tell us more about the motivation, vision of the team behind the protocol!

A:  Yes, we are not one’s who are too much about the limelight. Instead, we like to put all our time and energy into delivering what we promise.
We are a team of individuals passionate about reforming the current state of DeFi. 
From what we have gathered, the current DeFi terrain can be a very steep learning curve for the DeFi newbie and average users. This creates a never-ending bias where crypto elites and whale wallets make the most of the bullish market, doing just fine even when it is choppy. The real suffering is felt on the average user, for whom DeFi is a completely new realm, one that originally promised equal access to all opportunities, no bias, no tribalism. But unfortunately, that promise seems to be long lost. 
Through our protocol, we aim to change that ! DeFi doesn’t have to be so intimidating. It should be elegant, simple, and rewarding, and that’s exactly what we are focusing on.

Q: I can see that it’s been a while since the Mainnet launched; it’s interesting to see that Polygon was your chosen network for the launch; what was the reason behind it?

A: Factors like high gas fees, congestion, and complex operations are a few of the many factors that make DeFi less inclusive. Launching on Polygon was a strategic decision to offer our community relief from the current DeFi hauntings. 
With the inherent advantage of speed, scalability, and near-zero gas fees with Polygon, we can offer our community better inclusiveness towards achieving high yields. In addition, we are constantly exploring new strategies to offer even more advantages to our community. Interoperability is also one of the key elements of the protocol, and we have big plans for multi-chain ventures, so that’s something our community can look forward to.


Q:ETHA Lend has a lot of partnerships and amazing backers. What are some of the important recent partnerships you have been building in the DeFi ecosystem?

A: We just launched our Partnership with the Gelato Network, which is an enterprising DeFi automation protocol. ETHA Lend also got listed on DaapRadar, the largest dApp tracking and analytics interface. We have many more campaigns and partnerships in the roadmap, and when each concludes, our community will learn about it first so don’t forget to join our official channel here 👉https://t.me/ethalendcommunity


Q: We have heard a lot of buzz around the ETHA Smart Wallet; please tell us more about its features.

A: ETHA Smart Wallet is a non-custodial wallet, which means users have control over their assets at all times. 
What makes our smart wallet so unique is its transaction batching feature. The wallet can automatically execute multiple transactions with several different assets in one go.
Here’s an example that will paint a better picture of the wallet’s transaction batching feature:
So, suppose you want to invest in DAI yield optimization, but you don’t have enough DAI in your wallet. What you have is a little bit of MATIC, BTC, ETH, and QUICK in your ETHA Smart Wallet. 
Without the ETHA smart wallet, you would go to different exchanges, swap these assets one by one for DAI, return to ETHA Lend, and finally invest. 
This is where our smart wallet changes the game:
You can take all your assets MATIC, BTC, ETH, and QUICK and swap them for DAI via the smart wallet, all at once, and hit on invest. Viola transaction complete!
Besides, this feature contributes to even less gas fees, as you are paying for just one transaction instead of four or five different transactions if you went the traditional way. 
There are other features that the wallet offers, including eliminating the need to pay for authentication or approval fees when you interact with new protocols or dApps you haven’t interacted with before. 
Then there is wallet delegation, which allows you to delegate your wallet address to another user or vice versa for an even more accessible experience.


Q:Wow! Now I see why there is so much hype around your wallet! Your eVaults are offering very attractive APYs currently; what makes them so unique? Are there any rewards or incentives for early movers who invest in the eVaults?

A:  There are fours eVaults on the protocol right now – wETH eVault, wBTC eVault, wMATIC eVault and the Link eVault. We use a unique stable asset strategy to protect users from market volatility while having all the benefits from exposure to volatile assets. 
Users deposit in the eVaults in stable assets within this strategy, including DAI, USDC, and USDT. The rewards or yields are then given out in volatile assets, including wETH + ETHA, wBTC + ETHA, or wMATIC + ETHA. 
Yes, of course, there are very attractive incentives for our early users who participate in the eVaults.
It is indeed an opportunity that can’t be missed, but since this is a limited time period offer, we hope our users make the most out of it!
We plan to launch our fourth eVault soon – the LINK eVault that uses a stable asset strategy just like the existing ones.
You can check out the eVaults, here 👉 https://app.ethalend.org/

Q:ETHA Lend has spectacular products and an even stellar roadmap that the community can look forward to. Are there any upcoming features or updates that we should be excited about?

A:  Well said, we have built an infrastructure with the community at the heart of it all. If you follow our telegram community chats and news updates, you will find that our goal is structured around community prosperity and consensus. And yes, we have a great incentive program for our early movers who interact with the eVaults or the lending market. 
Moreover, we have new launches coming up very soon! 
And we are also going to launch the Staking functionality soon, so our users can deploy their ETHA tokens for even more rewards. Several other things are in the pipeline, like super boosted liquidity mining programs, DEX integrations, listings, etc. 
Another element that is in our immediate roadmap is the UX/UI of the protocol. We think it is important to keep improving our interface and user experience constantly. We want to set an industry example of how a Yield optimizer should work. We are working on that tirelessly every day. 
Q: ETHA Lend has already eliminated many of the entry barriers within the Yield optimization space. However, many users are limited due to not knowing how to use and configure its parameters. Do you plan to teach users through tutorials or guides?

A:  We are working on tutorials and guides, but the main way to onboard the protocol is to show our users how easy it is to interact with our functionalities. Therefore, we are constantly asking for feedback from our community. 

Q:While you build your project, do you take into account community feedbacks and demands?

A: Yes we actually do polls constantly, asking for feedback or for new features they want to see in the app, or maybe what volatile asset to add to vaults.
Q:I think ETHA  great, so how is the way to buy $ETHA Token? any presale and publicsale?

A: You can buy ETHA on the Ethereum Blockchain on Balancer, or in Quickswap for Polygon. The token address is the same, 0x59e9261255644c411afdd00bd89162d09d862e38


Q:Give all the links to all your social media platforms if possible?  
A:  https://t.me/ethalendcommunity
https://twitter.com/ethalend
https://medium.com/etha
Q:Where can I buy your tokens now.

A: $ETHA can currently being obtained at various exchanges, such as Gate.io or MXC. If you prefer dexes you can obtain your tokens via 1inch on Polygon and Ethereum. 
The token is a future governance and utility token with value accrual mechanisms, to reward long term liquidity providers through platform fees and discounts. We are introducing soon staking more, and will gradually enable governance, once the token distribution is ideally decentralized
Q: Do you have any plans to add Nft’s to your ecosystem as this is the hottest topic in the crypto space?

A: Actually, the ETHA wallets support NFT deposits right now. You are right, NFT space is hyped so would be a interesting feature to add soon
Q:Have You being audited?

A:  All our contracts have been audited by various parties including Certik, you can read the report here: https://www.certik.org/projects/ethalend
Q:What is the most ambitious goal of your project? What is the ultimate vision that Your project is trying to achieve within the cryptocurrencies market? I would appreciate it if you could share with us any Upcoming Updates?

A: Right now users can utilize ETHA wallets for most DeFi needs. You can deposit, withdraw ERC20 tokens, you can also swap multiple assets using curve or quickswap from our UI, using 1inch to find the best rate, besides our main products, Lending and eVaults, to invest your assets and earn interest.
So as you can see, we want to be positioned as the first choice of a defi user to hold and manage their investments, with the best user experience (low gas fees, less transactions, security, etc)
Q:The idea of project is really unique and incredible, how did this idea come about?

A: The fragmentation within the DeFi space, and being frustrated about the current state of the space. We believe we have to lower the entry of barrier, in order to take DeFi mainstream
ICOSpeaks hosted an AMA Session with the Etha lend Team. That’s all for today.
Thanks to all users who participated.
Thanks, Etha lend team for being with us
Thanks, all and see you soon😉
Cheers 🥂

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