Tetu Introduced tetuBAL
Tetu introduced tetuBAL, the first Tetu cross-chain strategy, to offer Polygon users access to a boosted yield strategy on Balancer mainnet.
Past Successes
From the team that first introduced liquid eQi, Tetu is back to provide users with increased rewards and a liquid form of veBAL through tetuBAL.
The first rollout with tetuQi has been wildly successful, with the vault earning users ~24% APY. In fact, the introduction of tetuQi has shifted Qi vault incentives back to Polygon, with 3 out of 4 of the highest incentivized vaults being on Polygon again.
Balancer
Using this previous strategy, we have decided to offer Polygon users access to a boosted yield strategy on Balancer mainnet, without Polygon users ever having to personally bridge their assets over to Ethereum.
This new strategy has become viable since the new tokenomics updates to Balancer have rolled out. Balancer is a decentralized exchange that allows for customized liquidity, with varying weights in the pool.
tetuBAL — Boosted and Liquid
Tetu have created a vault strategy that is simple and fruitful. By staking B-80BAL-20WETH BPT tokens in Tetu vaults, Tetu users can gain exposure to all the boosted rewards on Ethereum without ever having to bridge their assets over.
Users will also claim their rewards on Polygon in the form of tetuBAL, meaning they never have to pay a high gas fee again. All gas fees will be covered by Tetu taking a small performance fee out of the rewards, however this will decreasingly scale down as a percentage of personal earnings as more users deposit into the vault.
From a user’s perspective, all they need to to do is:
- Deposit BAL and WETH on Polygon to get the B-80BAL-20WETH BPT token
- Deposit BPT token into Tetu vault for tetuBAL
- Claim tetuBAL rewards weekly
Behind the scenes:
- Tetu redeems the user’s BPT LP position for WETH and BAL on Polygon
- Tetu bridges WETH and BAL to Ethereum mainnet
- Tetu deposits WETH and BAL into BAL vault on Ethereum to receive BPT
About Tetu
Tetu is a Web3 asset management protocol built on Polygon that implement automated yield farming strategies. The goal is to provide investors with a safe, secure method of receiving high & stable yield on investments. Tetu’s innovative solutions provides automated yield aggregation and distribution through xTETU.
SOURCE:
https://medium.com/@tetu.finance/introducing-tetubal-910cd6babb71
