Veda, a not too long ago launched DeFi abstraction layer, introduced a partnership with EtherFi, the main liquid restaking protocol.
Introduced on Could 30, Veda’s expertise has been built-in into EtherFi Liquid, a vault-based product providing automated yield era methods. Veda’s infrastructure facilitates the tokenization of complicated good contract interactions, abstracting away the technical frictions usually related to accessing sophisticated DeFi methods.
“Veda has helped us step up our game in terms of the broader EtherFi experience, including that of Liquid,” stated Mike Silagadze, the co-founder of EtherFi. “A key benefit of Veda’s technology is the way in which it eases users into a wide array of yield-generating primitives.”
Sunand Raghupathi, the co-founder of Veda, described the integration with EtherFi as offering a robust “case study” showcasing how its expertise can facilitate the creation of yield merchandise he says “would otherwise be difficult to access for the average user.”
“We’re thrilled with [EtherFi’s] decision to use Veda’s technology,” Raghupathi stated. “By essentially tokenizing various DeFi positions, Veda marks a substantial push towards making DeFi yields in the digital assets realm readily available to the growing number of crypto users globally.”
EtherFi’s Liquid vaults have attracted a complete worth locked of almost $750 million since launching in March, in response to DeFi Llama.
Veda’s rise
Regardless of being stay for greater than two months, Veda solely not too long ago publicly introduced itself by way of a Could 15 weblog publish.
Veda seeks to beat the obstacles to entry created by the technical obstacles related to accessing superior DeFi methods. It bundles collectively and tokenizes complicated good contract interactions, permitting protocols to supply sophisticated yield methods as easy merchandise to customers.
“Participating in DeFi today requires that users directly interface with a complex network of chains, protocols, assets, and bridges,” Veda stated. “The result is that the value created by DeFi is only accessible by a select group of technical users. Veda enables tokenization of arbitrarily complex sets of DeFi positions, serving as a foundation for protocols, wallets, and exchanges to offer accessible yield products to users.”
Veda famous that its expertise already facilitates entry to yields by way of a number of main DeFi protocols, together with Aave, Morpho Blue, Pendle, and Gearbox.