Balancer protocol awarded Ithil a grant to build a novel strategy back in August. It is focused on boosted single side LPing in Balancer’s liquidity pools, with further rewards earned by staking the LP tokens in Aura.
As the year is wrapping up, we’re sharing a short update on the progress and status of that project.
Restructuring Ithil’s Architecture
Our team is currently putting the finishing touches to Ithil’s architectural rework, a project that will be completed by the end of December.
Beginning in January 2023, we’ll start testing Ithil on a live chain (Polygon), which will initially be limited to a few whitelisted people.
Ithil’s architectural rework enables the vision we have for the future: a highly composable, interoperable series of building blocks that can used to create any kind of financial service on-chain. You could think of it as the OpenZeppelin for DeFi.
Benefits for the Balancer/Aura strategy
The improved architecture has a wealth of benefits, including the ability to support loans for an arbitrary number of tokens. This means that our Balancer/Aura strategy can now take full advantage of all multitoken pools on Balancer. Exciting prospects!
We look forward to the innovation that the new year will bring, and would like to take this moment to wish everyone a great ending to 2022 and a happy New Year!
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