[PRESS RELEASE – Dubai, United Arab Emirates, February 7th, 2024]

In the fast-moving and hostile landscape of decentralized finance (DeFi), it is rare to find a protocol that survives an exploit.

That is what Steadefi has done, with an emphasis on holistic security along with a product that allows yieldors to not just chase after high APRs blindly, but to actually earn yield profitably across any market conditions.

Profitable Yield Earning Strategies with GMXv2 in Bull, Crab or Bear Markets

DeFi activity on Arbitrum continues to grow at a fast pace, led by the demand for perpetual trading on GMXv2. Steadefi has relaunched with unique strategy vaults that allow users to earn boosted yield profitably from liquidity provision to GMXv2 with their leveraged, automated delta long, neutral and short strategy vaults.

Most leverage protocols simply tempt a high APR to users. However, too often liquidity providers chase after high APRs but end up unprofitable (measured in USD) due to a wrong delta strategy – Steadefi’s strategy vault offerings changes all that.

For example, users who think ETH is going to rise in price can choose to deposit into the 5x Long ETH-USDC vault. Users who think BTC may be dropping over the next two weeks can deposit into the 5x Short WBTC-USDC vault instead. Other users who can’t be bothered to time the market, and are just looking for a long-term strategy that makes profit steadily over time can deposit into any of the 3x Neutral vaults and stack those USD safely and automatically.

Arbitrum Short-Term Incentive Program (ARB STIP) Grant from GMXv2

Steadefi’s relaunch is further propelled and validated in the form of being accepted into the GMX ARB STIP grant program. This further validates the value that Steadefi brings to not just GMX, but to the Arbitrum DeFi ecosystem.

All of the grant will be used to incentivise lending liquidity to unlock further leveraged yield earning strategies into GMXv2.

Escrowed Steadefi Airdrop Campaign

To further drive Steadefi’s secure restart, the protocol is also preparing for its own airdrop campaign for Escrowed Steadefi (esSDY). While details may be scant at the moment, this potential campaign adds an air of excitement to the Steadefi ecosystem. Airdrops are a popular mechanism for project engagement, and if implemented, the esSDY airdrop campaign could further bolster community participation and interest in the platform.

A Holistic Security Relaunch with CodeHawks + LedgerWorks

Learning from their previous mistakes, the Steadefi team is leaving no stone unturned in the realm of security and ensuring the safety of its users’ funds. The relaunched smart contracts has gone through an arduous public audit with dozens of auditors on the CodeHawks platform (by Cyfrin, a top-tier smart contract auditing company), mitigating all of the findings discovered. In addition to smart contract security, Steadefi is also working with LedgerWorks, an integrated cyber, operational and DeFi focused risk management platform that provides real-time market surveillance and transaction monitoring to further cover more aspects of security in a holistic manner.

Leverage Strategies into Liquid Restaking Tokens (LRTs) on Layer 2s

In addition to its current offerings, Steadefi is also looking to position itself at the forefront of an emerging and highly sought-after sector in DeFi: Liquid Restaking Tokens (LRT). Recognizing the growing interest and potential in LRTs, Steadefi is gearing up to introduce strategies that will enable users to leverage LRTs effectively and profitably on Layer 2 networks.

Follow Steadefi’s Relaunch

With new strategies for profitable yields, enhanced security measures, and the upcoming esSDY airdrop, the platform is poised for an intriguing and ambitious relaunch to regain trust and regrow its liquidity.

For those interested in the evolving world of DeFi and Steadefi’s role in it, further details can be found on their website (https://steadefi.com) as well as their X account (https://x.com/steadefi) and Discord community (https://discord.gg/steadefi)

Contact

Adonis Cyril
[email protected]