Ease is partnering with Wido to make covering DeFi even Ease-ier!
Ease Defi, inventor of the Uninsurance coverage protocol is partnering with Wido, to offer all Crypto users the chance to join the DeFi revolution.
How Ease and Wido can lower the threshold for new DeFi users
Defi is great but also complicated
Decentralised Finance, or DeFi, has opened up many new opportunities for crypto users. From permissionless loans to passive income on savings, there are many ways active users can generate income.
There are two main hurdles currently stopping new entrants in the Cryptosphere from enjoying all these possibilities: security and complexity.
Enter Ease: Security
Ease has been developing innovative DeFi coverage products for several years which has culminated in the unique Uninsurance system. It’s a set-and-forget system where yield-bearing liquidity tokens auto-compound their rewards while being fully covered against hacks, but without premiums to be paid.
For the average new DeFi user, however, understanding the actual processes and actively participating in them is way too complicated.
Depending on the exact underlying protocol (such as Yearn, Convex, Aave, Sushiswap etc) there are many complex steps needed to get the Ez-tokens, which are yield-and-coverage-bearing. It’s easy to make mistakes though, which can be very costly.
Enter Wido: simplicity
The Wido Router enables any token swaps with a focus on non-liquid tokens like pools, farms or vaults. DeFi apps integrate Wido Router to accept deposits in any token and grow deposit conversion. Major protocols like Pickle and Yearn have already integrated Wido solutions.
🥁 Wido Partners with @iearnfinance as Official Zap Provider
This integration enables users to deposit any token into Yearn vaults. Say goodbye to manual swaps or LP deposits — we do the heavy lifting for you. 🌐💰 pic.twitter.com/FutA2epn9m
— Wido: Omnichain Zap Infrastructure 🌱 (@widolabs) March 31, 2023
Ease’s upcoming implementation of the Wido router offers an elegant solution by doing all needed intermediate steps behind the scenes.
Wido will show the exact steps needed but will take care of them.
They will:
- sell the deposited tokens (could be USDC/t, ETH, yTokens etc)
- buy the needed vault tokens
- pool tokens if needed
- deposit them in the protocol (Yearn, SushiSwap, Compound, Convex etc)
- deposit the received LP tokens in the Ease Uninsurance system
- return the received covered and yield-bearing Ez-tokens to the user.
Ez-tokens will be Easy to get
So, the only thing a user needs to do to get covered Ez-tokens is
- choose the vault he wants tokens for and
- deposit ETH, USDC or any of the other main tokens.
The user will be able to buy various fully covered, auto-compounding and yield-bearing tokens – all at Ease.org and with a few clicks!
Synergy between Ease & Wido
Wido’s Roman Mazur says:
We’re delighted about Wido’s integration with Ease, a leading DeFi platform that simplifies crypto asset management and yield optimization. With Wido’s Zap Router, users can deposit any token into Ease vaults effortlessly.
Experience the future of DeFi through the synergy of Wido and Ease – revolutionizing portfolio management, security and accessibility.
Ease’s Robert Forster adds:
We are looking forward to having the Wido Zap router integrated in our Uninsurance system. Our goal has always been to make investing in crypto as Easy and safe as possible and Wido Zaps are a perfect match for this.
Our partnership will allow a new and large segment of crypto and DeFi users to experience auto-compounding yield, while being fully covered against hacks.
Next steps
Both teams have already started working on integrating the systems. So, soon(™), it will be even easier to DeFi at Ease! Follow https://twitter.com/easedefi for the latest updates.
