Introducing DeFi Simple LP Account

A couple of weeks ago we announced a new addition to our product lineup. A set of smart contracts that will take BNB/Stablecoins deposits and deploy them across DeFi protocols. BNBx Portfolios will simplify decision making as well as, automate operational tasks removing the need to manage multiple tokens across multiple protocols. More details can be found on our blog here

Today, we will be introducing our first offering of BNBx Portfolios series — DeFi Simple LP Account

Introduction

DeFi Simple LP Account aims to provide a low-risk strategy for users to earn a yield on their BNB with no lockup using a combination of staking and providing liquidity in a single sided BNBx pool.

Key Parameters

Deposit token: BNB

Protocols used: Stader, Wombat

APY: Currently 14.5%* (APY is variable and will be updated every 24hrs)

Rewards frequency: Every 24hrs

Risk Level: Low (No impermanent loss)

Liquidity: Instant (No lock-up)

TVL Cap: 20,000 BNB

Wallet Cap: 1,000 BNB

Fee:

• Entry fee: Nil
• Exit fee: Nil (for withdrawal in BNBx) / Swap costs (for withdrawal in BNB)
• Vault Fee: Nil for the first month

Strategy Explanation

User deposited BNB will be staked in Stader’s liquid staking solution to mint BNBx.

The BNBx minted will be deposited in Wombat’s single sided BNBx pool

Rewards accumulated from the Wombat pool will be optimized between lockups for boosted rewards and liquidation for auto compounding

Rewards will be added to the pool every 24hrs and reinvested in the strategy to implement auto-compounding

Users can withdraw their investment at any time for no fee in BNBx. Withdrawals in BNB can also be done at any time with a fee to cover swap costs

Timelines

Stader’s DeFi Simple LP Account will be available to users in mid-November 2022.