Y24 Liquid Restating Token - Fastest Growing Protocol
Hi Lido Community,
This proposal is wider introduction to Yield 24 and possible collaborations on the Lido ecosystem.
Summary
Yield 24, a protocol operating on EVM-compatible chains like BNB, ETH, and Polygon, introduces restaking as a novel cryptoeconomic security primitive on both L1 and L2. This innovation allows the optimisation of assets such as BNB, ETH, BTC, and stable coins at the consensus layer. Users staking their blue-chip tokens directly or through a liquid staking token (LRT) have the option to engage with Y24 smart contracts, enabling them to restake ETH, BNB, BTC, stable coins, or LRT. This extends cryptoeconomic security to various applications on the network, including RWA’s (Real World Assets), securitization, trenches, staking, borrowing/lending, and provides an avenue to earn additional rewards.
Mission
Y24 is embarking on a mission to partner with Lido, with the shared goal of catalyzing the evolution of the staked etherum and other native yield staking tokens. Y24 represents yETH staking derivative, delivered by Lido LST, the foremost liquid staking protocol on EVM compatible chain. The connection between yETH and stETH mirrors the relationship observed between stETH and ETH. Our primary objective is to maximize yield upto 8% by investing in other DeFi applications as mentioned above.
We will aim to aggregate the best native yield staking and lending, leverage instruments DeFi has to offer to put our users’ money to work. We will also aim to provide an optimised fee structure, that empowers our users to capture the most value out of their assets.
## The platform
We have successfully developed a prototype of our legacy projects. The objective is to have a final functional product by the end of January. In the meantime, we want to share some examples of the exciting MVP use cases and benefits that offers:
- Liquid ReStaking Token (LRT)
- Real World Assets (RWA’s)
- Leverage Staking
- Y24 LRT Staking
- Lending Borrowing
- Bitcoin Staking
- Trenches Pools
- Y24 Bridge
- Governance
- Y24 Point System
The projection module and specific financial engineering models will be open-source from the beginning. Furthermore, the ultimate goal is to gradually decentralize governance, mirroring a similar approach to Aave.
We highly value your input and comments regarding the developments at projection.finance and buckets.digital. Should you have any questions, please feel free to share them with us. We are here to provide answers and additional information about our initiatives.
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