Alt season is right around the corner and giving users the ability to EARN the HIGHEST YIELD on ETH, will attract a lot of positive attention to IDLE and at the perfect time.
And the good news is, this can be completed very quickly and with ease, by just plugging into smart contract to deposit the IDLE users ETH.
There’s a platform called Alpha Homora, by Alpha Finance. Its a project that’s on Ethereum and Binance Smart Chain, but their main ecosystem, Alpha Homora, is ran on Ethereum.
They are the first platform to offer leveraged yield farming, and because of the way they’ve designed their ecosystem, it allows users to deposit ETH in vault and earn extremely high APY. Usually it remains the highest across all DeFi platforms. At the time of writing this proposal, ETH APY is at 17%.
They are able to do this because the ETH deposited from users goes into a vault (They are considered lenders for their platform). This allows other users (Yield Farmers) to partake in Leveraged Yield Farming by borrowing the ETH. The users who deposit ETH into vault, DO NOT have to worry about losing their ETH because of the way they’ve designed their protocol. It consist of Yield farmers, lenders, liquidity providers, liquidators, and bounty hunters. More detailed info can be found in the link below
Also, their vault/deposit contract is already audited (can be viewed in the link below). They have over 158k ETH in vault already.
Since IDLE will be the face of DeFi for normies, this is a good solution that will benefit both protocols.