In a world of Decentrilised finance, the new banking system has taken over and projects with amazing features and usecases.
Bagels Finance is the first leveraged yield farming cross-chain aggregation protocol built on HECO, BSC and Ethereum Layer2. Users can participate as Yield Farmers, Lenders and Liquidators.Put in simpler terms, they provide liquidity to yield farms on HECO, BSC and Ethereum.
What Problems Bagel Finance solves?
- Not enough Leverage: Other yield farming platforms limit the amount of rewards that yield farmers can make.
Bagels solves this problem by enabling yield farmers to take up to 10x leverage allowing them to potentially earn more compared to other protocols which only allow for 2–3x leverage. This is made possible because they provide stablecoin farming pools with DAI and USDT. These pools offer much less risk.
- Low Interest: On other platforms , lenders within the DeFi market make very little in interest on. They use an over-collateralized lending process that limits potential deposit interest on ETH to maximums of around 0.8%.
On Bagels, lenders earn deposit interest based on the utilization rate of the total funds they have lent, and also earn tokens as a reward for the amount of time their assets have been lent. The higher the utilization rate the higher their returns.
Earning interest based on the utilization rate is much more profitable and allows Bagels to potentially give up to 20% APY for ETH on lenders deposits, compared to 0.3% to 0.8% on popular lending platforms employing an over-collateralized lending process.
- Difficulty using Crosschain: Bagels makes it easier through cross-chain aggregation protocol called “Dokodoa”, which allows for cross-chain asset interaction and for liquidity within Bagels to flow to different DeFi applications on different blockchains, and for users to yield farm on multiple blockchains.
It eliminates the need to switch between different blockchain network settings to make transactions. Put simply, users are able to complete deposits and cross-chain transactions with a single click.
- Bagels platform allows yield farmers to complete the entire lending process with just one click instead of using multiple platforms to borrow assets and to farm separately. Bagels provides a seamless users experience with lending alongside selected DeFi farming products on Ethereum Layer2, BSC and HECO all in one place hereby solving the issue of difficulty in operation and user experience.
How Do they stand out from others?
- The highest lending APY on the market.
- Yield Farmers can take the most leverage (up to 10x) on the market, leading to the highest returns.
- The only cross-chain yield farming protocol on the market allowing you to interact with DeFi products on different networks.
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