Dialogue with Etha Lend: Addressing Defi's pain points and creating new hope for cross-chain aggregation benefits

May 27, DEFI Revenue Optimization Protocol ETHA LEND  Chester Bella, co-founder and product developer of Etha Lend, sat down with Ritual AMA to discuss the key features and benefits of ETHA Lend, as well as reveal the future development plans for the project.

ETHA LEND is a revenue optimization protocol based on Ethereum that aims to reduce user gas costs, enable easy interaction between user protocols, and optimize and balance asset allocation through algorithms.

The following is a summary of the AMA:

Rhythm Blockbeats: Tell the audience about yourself. What's your background? How did you get involved in the blockchain industry and what attracts you most?

Chester Bella:For those of you who don't know me, I'm Chester Bella, co-founder and product developer of Etha Lend. I have been directly involved in the financial industry for some time, the last time I was involved in the traditional financial industry was as a business analyst at N26 Bank and as a product analyst at Hypoport. I have been involved in the cryptocurrency space as a market participant since 2013. As a builder/conceptualizer, we've been involved since 2015.

We have been watching the development of the Defi market for some time now, and its rapid rise reinforces my confidence in the sector as the next big breakthrough in the crypto market. But we also noticed pain points that prevented Defi from reaching full maturity. That's when my co-founder Danny Boahen and I decided we could start Etha Lend.

Rhythm Blockbeats: Can you give a few words about Etha Lend and the development team, and what is your vision?

Chester Bella:Etha Lend is a composable DEFI yield optimization platform currently deployed on Ethereum. We are fully inclusive by addressing DEFI's difficulties of implementation and understanding. Etha Lend has a unique function designed to maximize community returns and achieve long-term sustainability.

For the team, we are proud to say that the Etha Lend team is diverse and highly committed to the cause of yield optimization, and most importantly, we are pleased to have an equally diverse community. The team was followed by Chester Bella (me), Danny Boahen, co-founder of ETA Lend, and Felipe Gomez, CTO of ETHA Lend, who led the project with a seamless technical architecture and minimized infrastructure, And developers from top companies who have excelled in all the areas where ETHA Lend has been able to thrive as the DEFI project, including cryptocurrency, blockchain, DEFI, AI/ML, financing, and cyber security.

Routine BlockBeats: How does ETHA Lend differ in functionality from the mainstream revenue aggregation projects on Ethereum such as YFI, and is there direct competition?

Chester Bella:To understand the difference between ETHA LEND and yield aggregators such as YFI, you must first understand the nature of the DEFI yield optimizer behind the back. In simple terms, our yield optimization protocol utilizes data analysis and optimization techniques to optimize the performance and return on the assets offered. This was originally proposed by the DEFI yield aggregator to maximize returns at all costs. While some Defi revenue aggregators target overall platform services, others are more focused on attracting a larger retail audience.

ETHA LEND performed better in the management and governance of adjustable parameters. The key difference is that ETHA LEND is not a yield aggregator, but a DEFI yield optimizer. There is no other agreement like ours right now. Our goal is not to compete with anyone, but to integrate revenue aggregators and loan agreements into our agreements.

Blockbeats: We know that Etha Lend's capital allocation algorithm takes into account many factors, such as gas cost and volatility, in addition to the rate of return, but will this increase the gas consumption of the agreement and ultimately reduce the user's rate of return?

Chester Bella:Etha Lend's distribution algorithm is highly feasible. Smart algorithms help users achieve incredible returns, and the integration of Chi Gas tokens helps us solve our looming gas consumption problem. In addition, the ETHA Smart Wallet is a hybrid smart contract wallet that allows borrowing and lending without having to pay an approval fee.

Etha Lend integrates Chi Gas Token, a token for hedging Ethereum gas fees, which was launched by the 1Inch team to optimize gas. The protocol solves the long-vexed problem of volatility and gas rates by allowing users to use their gas tokens to save money on gas bills. By doing so, users can save up to 52% of transaction-related costs.

Blockbeats: Can you explain the economic model of ETHA tokens, how current ETHA token holders will benefit from ecological development in the future, and are there plans to start activities like liquidity mining?

Chester Bella:ETHA is the local ERC-20 token of ETHA LEND, which ties the protocol and its community together. ETHA has a maximum supply of 30 million; You can see the detailed distribution mechanism in this articlehttps://medium.com/etha/introducing-etha-tokenomics-theres-more-to-it-than-what-meets-the-eye-73a19b886448

ETHA provides a number of utilities and use cases for our users. Users can earn rewards by pledging ETHA. In the long run, ETHA holders will be further rewarded for being able to participate in the governance of the protocol.

As an additional use case, we would allow another form of pledge that allows the bettor to profit from the revenue generated by the agreement.

Revolving BlockBeats: What are the future plans for coordinating the ETHA LEND protocol on both the Ethereum and Poca chains, will the proceeds be distributed on both chains according to the same rules, and are there plans to use different tokens separately?

Chester Bella:We intend to deploy ETHA LEND on EVM-compatible parallel chains, such as Clover, Moonbeam and Framework, or more. We are also testing internally, as it would be more logical to have ETHA Lend run its own parallel chain. But we are concerned that the protocol is already deployed on the Ethereum network, which means that if ETHA Lend takes advantage of EVM-compatible parallel chains, it will be much more efficient and fast in terms of deployment.

As for future plans for ETHA Token Economics, once the protocol is deployed on Polkadot, ETHA LEND on Ethereum and ETHA LEND on Polkadot will exist independently in the initial phase. And have a single token identity. To do this, we will deploy two different ETHA token standards for each network, but the maximum supply of ETHA tokens should remain constant at 30 million.

Rhythm BlockBeats: We noticed on Twitter that Etha Lend has had a successful soft launch of the mainnet. So when can we expect to see the real mainnet come online?

Chester Bella:There are two main reasons for soft-starting the mainnet. One is that we want to test the efficiency, functionality, and operability of the protocol in a highly competitive and hostile mainnet environment. Second, we wanted every step of the process to be controlled and secure, especially in special parts like the main network launch, where the community was aligned with the team. Now that the screening is complete and we have collected feedback from the community, we will be aware of and addressing all development requirements so that our users can look forward to the official release of the mainnet! We will be rolling out the main network on the side chain soon :)

More information about it is available at:https://medium.com/etha/introducing-etha-tokenomics-theres-more-to-it-than-what-meets-the-eye-73a19b886448

Rhythm Blockbeats: How do the project partners plan to expand their community impact? Are there any incentive plans in place?

Chester Bella:We've been in development for months, and people are still working hard behind the scenes. We also understand that project growth and community value go hand in hand. Therefore, marketing and awareness services are both important components of product development. Our goal is to strike a balance where the community is growing fast, but we also want to provide our users with quality products that will further grow the community. We're also building the infrastructure for a community to look forward to.

We have recently launched the ETHA Lend Brigade Ambassador Program, which we are confident will help unlock the full competitive potential of ETHA Lend to a wider user base.

Rhythm BlockBeats: Thanks Chester  Bella  "Is a wonderful sharing.

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