Zethyr Finance 2: Migration from Zethyr Finance 1
September 23 2020
If you are reading this article, chances are you have been using Zethyr Finance for a while. Thank you for being awesome so far!
As you have probably been aware, in Zethyr Finance 2, we will open lending pools to TRX, USDT, WIN and BTT right from the beginning. To streamline the experience and maximise yield for every Zethyrian across lending pools, Zethyr Finance 2 will enable lending for all deposits. So, this means that there will NOT be an option for you to use your tokens as collaterals only. We have referred to many successful financial protocols and believe this approach will be the best way moving forward. So, when you deposit your tokens into Zethyr Finance 2, those tokens will be available for others to borrow, if they are willing to pay interests higher than staking interests. Consequently, you will earn higher yields for your tokens than if you simply stake. Fantastic right? After depositing, you will have an option to enable collateral for that asset. This option will help you protect the asset that you value and prevent this asset from being liquidated.
In any case, some of you may not like the idea that your asset is available for others to borrow. Therefore, we will let you decide:
- If you want to migrate to Zethyr Finance 2, there will be a button “Migrate to Zethyr FInance 2”. Once clicked, your asset will be migrated to Zethyr Finance 2 lending pools, available for others to borrow and you will enjoy floating yields.
- If you do not want to migrate to Zethyr Finance 2, you don’t need to do anything. Your assets will stay in Zethyr Finance 1 and continue to be collaterals only.
Regardless of whether you stay with Zethyr Finance 1 or migrate to Zethyr Finance 2, borrowing rates will always be floating based on Zethyr Finance 2’s interest rate formula.
If you have any questions or feedback, please let us know in our Zethyr telegram.
Stay tuned to know what will be coming in Zethyr Finance 2.0.