Hotbit AMA🎉：HOTBIT Polkadot 9th — ETHA Lend: The Protocol-Agnostic Yield Optimizer

AMA content review

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💗Host:Cyrus

💗Guest:ETHA Lend Co-founder — Chester Bella

Cyrus: Let’s welcome Chester Bella @chesteretha, ETHA Lend Co-founder to introduce 【ETHA Lend: The Protocol-Agnostic Yield Optimizer】 to us in AMA. Thank you for being with us today. Let’s begin! Can you introduce yourself to the community?

Chester: Thanks for having me. I’m Chester the Co-Founder of ETHA Lend @ethalendcommunity. I have been in the crypto space now since 2013. Initially as a market participant. Around 2017 is the time when we started building and conceptualizing products. Our first project back then focused around remittances. The idea was to allow people that don’t have access to a bank account or credit card, access to traditional financial services, using crypto.

My background is in banking and fintech. I used to work at N26, which is one of the fastest mobile banks in Europe, besides that I worked for a fintech company called Hypoport, which builds aggregation software for the mortgages market in Germany

Cyrus: Thanks for the introduction. Let’s start my questions.

We know there are so many yield aggregator’s projects out there. Hence, what are the competitive advantages ETHA Lend has over your rivals?

Chester: That’s correct, there are many yield aggregator, however we are a yield optimizer, there are not many. Our approach and metholody of the algorithm has a different objective. While many yield aggrators focus on yield maximization at all cost, we use on chain data, such gas cost, the volatility time frame and more of the underlying protocols yield, to do yield optimization.

This allows us to optimize the users’ asset in a cost efficient way, based on the budget someone supplies. Since the cost to interact with each DeFi protocol varies a lot, and a lot of user’s don’t take the cost aspect into consideration, when supplying an asset. This is basically what we do when talk about yield optimization.

Cyrus: Total amount of ETHA and what is the mining mechanism of the token?

Chester: 25% of the total supply, will be minable. When we launch the reward program LPs will have the option to provide liquidity to designated pools in order to earn rewards. Additionally to that we will enable to reward users that interact with the protocol some tokens. It will be a combination of both, interacting and providing liquidity

Cyrus: What pain point did ETHA solve for the market? What are the advantages of ETHA?

Chester: We have solved a few problems to summarize, I would say:

-Cost-efficiency, when it comes to interacting with DeFi protocols

- We fixed the interoperability issues, and the frictional cost that minise arbitrage opportunities

- We natively integrated Gas Tokens to have an additional cost saving aspect of 52% or more

- And our protocol uses smart contract wallets, two bring additional gas savings there and it allows us to execute chains of transactions in a single transfer.

Cyrus: Sounds really impressive what you have done. What is the listing plan and the ecosystem? Why is it valuable? Which lists will be chosen to list the token?

Chester: In regards to listing, $ETHA is currently listed on Gate.io, MXC, Bilaxy, ZBG, Balancer, Uniswap and in a few days of course on Hotbit .Beside the exchanges mentioned, we are currently in talks with a few more exchanges. But more shall be announced when everything is set in stones.

The value of the token itself, derives from the utility of the token. The ETHA token is an ERC-20 token that will give the token holders on chain voting rights on the parameter changes, related to amendments and upgrades. Once the token distribution is ideally distributed, we will roll out staking, that will allow the users to lock their token for a period of time to earn rewards on fees generated by the protocol

Cyrus: What’s the vision of ETHA and what’s the plan for the next 6 months?

Chester: Our overall vision is to become the chain agnostic yield optimizer that offers users a simple gateway that handles all the complexities that come with DeFi. Product development has the highest priority on our agenda. We intend to expand our offering into the Polkadot ecosystem, to do that we have partnered with Clover. That will allow us to use our existing solidity code, in their Parachain, this will speed up a lot on our end. Beside that we intend to expand our community and get the word out about ETHA Lend @ethalendcommunity. We have some more news that you can expect, that we will gradually release in the upcoming weeks

Cyrus: Can you give us a brief about your token ETHA? Especially the utility and use case of it in your ETHA Lend ECOsystem?

Chester: Sure, in total we have a max supply of 30M ETHA token. The token itself is an ERC-20 token that will give the token holders on chain voting rights on the parameter changes, related to amendments and upgrades. We will roll out features that will allow users to earn on fees generated by the protocol, and some more cool stuff

Cyrus: Now, let’s proceed to the next session public Q&A,

@bulbul03: Could you give us an overview of the tokenomics? Is the token designed to rise and fall with the success of the platform, and does it include any scarcity paths such as stake, store, or burn?

Chester: You can have a detailed breakdown about our tokenomics on our website and the deck: https://www.ethalend.org/ details about price I can’t tell you, since it is decided by the market and more external factors we can’t control

@cindy_crypto: How important is the community to ETHA Lend? And how can we collaborate or help share token for the development of the project?

Chester: Without the community, there is no ETHA Lend. For this reason we have implemented mechanisms that incentivizes the community. We are pretty active on Telegram and Discord. We welcome anyone that wants to contribute to the project

@spongeboblu: Tell me one unique features that competitors of ETHA Lend don’t have and how will people attract towards through ETHA Lend?

@MsKiwi206: Until what corner of the world do you plan to arrive? That is, to what extent in the world do you think ETHA LEND will be solving people’s problems with their infrastructure?

Chester: Since our protocol is permission less and decentralize in its nature, we intend to position the protocol globally. To summarize it again we solve problems in regards to cost-efficiency and the fragmentation problem when it comes to interoperability

@Mehran_sylent: Southeast Asia is a very vibrant market and many project developed here so with ETHA LEND what do you think about Southeast Asia and do you have any plan to develop here?

Chester: We would love that! To be honest it was not directly on our agenda, but we are open to it. Feel free to reach out to me directly in this regards if you have any tips

@Tanzina37: As we know, every successful project has some behind the scenes story, what is the story behind Your Project success?

Chester: Our story is still being written. We can revisit this question, once we launched

@moonhold: As ETHA Lend do you offer any referral program for users to join and make some money from there?

Chester: As of now we don’t have any formal referral program, however we have implemented mechanisms to incentivize users

@azrayeni: Security is very important in blockchain projects, especially DeFi projects. How do you ensure the security of the ETHA Lend?

Chester: That’s a good question. To answer your question, we have already completed 1. Audit with no critical findings a second audit is currently being conducted by Certik before we deploy on the mainnet

@csgonub: I believe ETHA Lend hopes to share a lot of project information with the community. How can our community help ETHA Lend? What role can the community play in the ETHA Lend ecosystem?

Chester: Get involved on telegram, we keep the community always informed about what the current progress is etc. Community plays always a big role

@cogiaoxinh: No Project can ever guarantee the Safety & security of the Platform, Isn’t it? What is the Your Plan to do that?

Chester: Besides mitigating the risk of smart contract exploitations through audits and our architecture, we intend to natively integrate insurance solutions

Cyrus: Thank you so much. I appreciate you spending your valuable time with us today.

Chester: Thanks for having me, I really enjoyed answering the questions

Cyrus: If you want to know more about ETHA Lend or have more questions about ETHA Lend, please check

ETHA Lend’s website and community links can be found here.

Official website：https://www.ethalend.org/

Twitter: https://twitter.com/ethalend

Telegram: https://t.me/ethalendcommunity