End User Experience & Adoption
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VMEX Finance

Project

0x3f...2B4d

Borrow against staked LP, hedge risk, and earn yield on your yield

Appears in
9 ballots

Contribution

We have built and launched VMEX Finance. A lending protocol that uses isolated pools to support the responsible expansion of collateral in DeFi. Our focus is to enable staked LP & vault positions as collateral — giving users an easy way to borrow against their unique assets. So far, we have partnered and/or built support for Beethoven & Aura, Velodrome, Yearn, Curve, and Beefy Optimism projects may struggle to get protocol and deposit assets listed on lending markets due to having more “complex” assets. VMEX provides a live sandbox for assets to build a track record as quality collateral. Our goal is to be the go-to partner for protocols that want their assets listed on a lending protocol and to provide users a safe and reliable place to borrow against their staked LP and vault assets

Impact

We created an opportunity for Optimism protocols, who otherwise wouldn’t be able to, to get their protocol and deposit assets listed on a lending protocol. Additionally, VMEX is a reliable & risk focused place for users to borrow against and maximize rewards on their staked LP and vault assets. This adds desired utility that is beneficial to both the protocols and users. So far we have built out support for Beethoven, Aura, Velodrome, Yearn, Curve, and Beefy LP / Vault positions and have more in the works! Although we may have a small base of TVL now, we are just starting to ramp up our marketing and plan to roll out an incentives program to onboard new users

Impact Metrics

Funding sources

No funding sources provided