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WasabiX
  • DeFi

Life-time
Contributions Received

  • $ 1,630 Community Contribution
  • 0 Contributors
  • 1,630 Votes Received
Vision
Unlocked the capital efficiency of yield bearing tokens that are not being used. (xSushi, veCRV, yDAI, etc)
Description

Wasabix Finance is a zero-interest lending platform that takes user’s future yield as collateral to boost capital efficiency by up to 1.5x. 

It helps retail users to maximize yields and save money on gas fee by periodically compounding the returns.

Wasabix’s ambitious goal is to maximize investors’ yield reward and maintain capital efficiency.

TLDR

  • Interest-bearing tokens as collaterals (xSushi, yDAI, etc)

  • Each collateral can borrow up to 50% of its deposited assets to mint $waToken (10wbtc = 5 $waBTC)

  • Collaterals are yield bearing so they help pay back debt every block, and cannot be liquidated. (No Risk)

  • $WASABI is staked for veWASABI (Up to 4years)

  • veWASABI is for voting, fee-sharing, and airdrops

  • WASABIX earns fee across multiple chains (ETH, BSC, SOL)

  • Wasabi is healthy and naturally anti-parasitic.

How does WasabiX work?

Step 1 - Collaterals are deposited into one of WasabiX strategies. (This could be YearnV2, Vesper, Bunny)

Step 2 - A debt allocation, with interest, is assigned to the borrower to mint 50% of its collaterals in $waToken. (100$DAI mint 50$waUSD)

Step 3 - User’s 100 $LUSD is now been deposited into Liquity’s stability pool to earn 29.02% APY, and user borrowed 50 $waLUSD to be deposited into Wasabix farm pool to earn an extra 88.56% APY

Step 4 - User can mint more $waUSD every block, because it’s collaterals are generating income to pay back its debt.

Team Information

Team consists 7 developers, all been through multiple DeFi phases, and have great experience in building dapps and marketing.

0xAdammathieu 0xKaizen 0xAntarex 0xJefferyWasabi 0xegregium

    • Solana Grant

      Closed  · 2021/05/01 04:00 - 2021/06/27 12:00
      • 1630.97 USDC Community contribution
      • - Contributors
      • 1630 Votes received