eulSynths - Single-Click Leveraged DEX LP
eulSynths is a universal DeFi yield product platform built on Euler and Balancer. The protocol allows users to leverage DEX liquidity to increase their yield and mint synthetic tokens like our eulUSD.
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About
The problem it solves Getting optimal yield has been very difficult in the past. A multitude of synthetic assets and derivatives (especially LSDs) allow for multiple variations of generating income. One could either add them to DEX pools to earn fees on the high volumes or leverage them on lending protocols. eulSynth is the first protocol that allows for streamlining all of those income sources at the same time.
How it's made
Challenges we ran into Balancer and Euler are both highly composable protocols, however, their composability comes with a high degree of complexity. Balancer for instance allowed us to select from a multitude of Stable Pools, each of which have highly specific parameterizations. On top of that, Euler's implementation of the Vault Connector is entirely new, as such, we had to take a long time to even just understand how we could make them work together.