January 22, Dubai: In an important development for cross-chain decentralized finance (DeFi), Yelay Protocol revealed plans to expand its Yield Layer infrastructure to Sui Networkunlocking billions in Ethereum-based liquidity for the growing layer 1 blockchain.
Yelay’s Yield Layer integration will ultimately allow native users of the Sui network to directly access premium DeFi yields from established Ethereum-based platforms such as AAVE, Curve, Morpho, Gearbox and Lido Finance, without the need to link assets or leave the Sui ecosystem.
The announcement comes at a critical time in the evolution of DeFi, where Ethereum continues to dominate, with over 60% of the total value blocked (TVL) despite still high transaction fees. This concentration of capital has created a persistent challenge for emerging layer 1 networks such as Sui: seeding enough liquidity for their native DeFi protocols.
The integration will take place in phases in early 2025, with the first phase seeing Yelay’s technology used by pioneer Launchpool. Perq to remove a Pod from the Sui ecosystem. Pods allow users to stake Ethereum-based assets that generate rewards for multiple projects simultaneously.
In this case, the upcoming Sui Pod will allow users to stake USDC on Ethereum and claim token rewards from participating Sui ecosystem projects, alongside Yelay itself, with all rewards claimed directly on the Sui blockchain network. This process eliminates traditional bridging risks and chain migration requirements and allows participants in the Ethereum ecosystem to securely gain exposure to other chains.
“This moment marks an important milestone for Yelay and our mission to eliminate yield fragmentation and create a seamless user experience for DeFi users,” said Yaroslav Writtle, Yelay project manager. “This integration partnership will enable an explosion of yield-based products and services that will have all the speed and low cost of Sui, with the unparalleled security and liquidity of Ethereum.”
Yelay’s announcement could have broader implications for the layer 1 landscape, as traditional methods of seeding cross-chain liquidity often rely heavily on bridged assets, which can create significant risks for users and investors. protocols.
The YLAY token, which powers the yield layer and provides access to multiple reward streams, is now tradable on Sui.
About Yelay
Yelay provides cutting-edge multi-chain yield infrastructure through the yield layer, designed to equip Web3 builders with a powerful plug-and-play toolkit to transform crypto yield into what customers really want. With over 40 integrations into the biggest and best blue-chip DeFi protocols, Yelay enables the fast, efficient, and fully decentralized development of sophisticated, diverse, and fully automated financial and derivatives products for businesses of any size.
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Press inquiries for Yelay:
Arvin Nathan, PR
arvin@x8c.io
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