P2P coverage system rewards $Ease token depositors.
DeFi with ease and with boosted rewards
The unique P2P coverage system protects most popular DeFi yield-generating vaults from blue-chip protocols such as Yearn, Convex, Sushiswap, Aave and Compound.
Ease is adding more vaults. Badger is the newest protocol with covered vaults.
Starting this weekend, Ease DeFi will add bonus bribes to the Uninsurance ecosystem. This will increase the APR for $Ease stakers leasing their $gvEase.
Read below how this works and how to enjoy boosted $Ease rewards!
No hacks, no fees, plus auto-compounding yield.
Users pay no fees for coverage, they only pay in case of a hack taking place. No hacks? Free coverage!
You get cover simply by depositing DeFi tokens into the Ease vaults. The protocol then deposits them into yield-generating vaults from our vetted partner protocols for yield. Once the system deposits the DeFi tokens the user receives covered EZ-tokens in return.
Very Soon™ you will be able to swap your USD and ETH into these covered yield-generating Ez-tokens in just one click.
There are no yield fees, either. In addition, the system auto-compounds DeFi yields, so it is really set-and-forget! You can add your DeFi tokens here in the app.
Ease gvNomics 101
How much the user pays in case of a hack depends on the Max Fee assigned to their vault. $Ease tokens, staking, leasing and bribing are the pillars that support the Ease DeFi Uninsurance protocol as they determine this max fee.
$Ease & $gvEase tokens
- The $Ease token is sold on Uniswap and can be deposited on the Ease App
- Once deposited the token becomes $gvEase, where ‘gv’ is “Growing Vote”.
- This $gvEase amount grows linearly, and during the next year can become 2x the deposited $Ease amount.
- You can withdraw your gvEase back to $Ease at any moment, with only one week’s delay after initiating a withdrawal.
- $gvEase can be used to vote on DAO proposals, but also to lower the Max Fee of covered vaults by staking:
Staking on vaults
- The user can use their $gvEase to stake on their vaults in the Ease app.
- Vaults with higher stakes will incur lower costs in case of a hack, this can go down to zero fees!
- Users can stake, but protocols can also stake $gvEase to protect their users
- You can stake here in the app.
- If you don’t have funds in vaults or your vault is already at 0% Max Fee, you can lease your excess $gvEase:
Leasing your $gvEase
- This way you offer your $gvEase to anyone that needs more, for example, protocols that want to cover all of their vaults.
The famous farmer meme from DeFi summer 2021 - You don’t need to choose a specific vault, all leased tokens are pooled.
- What’s in it for you? You will receive $Ease rewards! These can be withdrawn or compounded with just one click.
- APR on leased $gvEase depends on the available bribes and other leasers but can be upwards of 20%. The longer you have deposited your $Ease, the higher your APR can be.
- You can lease your $gvEase for rewards here in the app.
- Where do these $Ease rewards come from? From Bribes:
Bribing for $gvEase
- If you don’t have enough $gvEase to lower the Max Fee of your favourite vaults, you can bribe for more.
- Bribes are for a specific vault, per week and are denominated in $Ease tokens, which can be bought at Uniswap here.
- You can set a weekly bribe amount, for a set amount of weeks. This way you don’t have to come back weekly to top up your bribe.
- If you want to end the bribe early, you can just stop it and get a refund.
- You can set up a bribe here in the app.
Ease boosts the Farmer’s APR
Though there are active bribes and APR is already 7-8%, Ease DeFi will add extra bribes to the system. The team aims to up the APR to 20-40% for the next few weeks or even months. The team will determine the exact amount of bribes weekly. This is dependent on usage and community feedback.
This boost will help Ease with marketing the system and with token distribution to its users. Some farmers might sell their rewards. However, Ease is confident that many others will discover the Uninsurance system and stick around.
They will see the many benefits of owning $Ease tokens. They can DeFi with ease, knowing that they covered their yield-generating holdings.