ETHA Lend implementing Chainlink Keepers to automate yield harvesting on Ethereum

Following up on its integration of Chainlink Price Feeds, Chainlink Keepers is a logical step forward to make ETHA Lend decentralized end-to-end...

ETHA Lend implementing Chainlink Keepers to automate yield harvesting on Ethereum

ETHA Lend, a composable DeFi yield optimizer built on Ethereum and Polkadot, announced today that it will integrate Chainlink Keepers on Ethereum to automate key protocol functions.

Chainlink Keepers uses decentralized off-computation to monitor predefined events to auto-trigger on-chain actions when they are found to occur — all in a low cost, highly reliable, and fully verifiable manner.

ETHA Lend’s yield optimizer optimizes earnings by executing algorithmically optimized yield-generating strategies in a decentralized way using DeFi protocols like Aave, dYdX, Cream Finance, and Compound.

Harvesting and rebalancing functions will be the first processes to be automated, where yield is harvested 1–2 times a day and rebalances are automated. This will lead to more efficient vaults and less manual intervention requirements, as well as more reliable yield payouts and timely rebalances.

Chainlink Keepers + ETHA Lend

Chainlink Keepers factors in several parameters to determine the best strategies for ETHA Lend vaults, including the latest gas cost (fetched by a Chainlink oracle), the volatility of the asset’s yield, and the size of the deposit to generate algorithmically optimal yields in wBTC and wETH.

Auto harvesting and rebalancing require a solution that monitors various conditions like time or market events and then calls ETHA Lend smart contracts when those conditions are satisfied. These processes necessitate the use of external bots known as keepers, which perform tasks on behalf of smart contracts.

After assessing several solutions, ETHA Lend selected Chainlink Keepers as it offers features including:

“Integrating Chainlink Keepers will enhance ETHA Lend by automating yield harvests and yield strategy rebalancing in a trustless and efficient manner. The historical reliability of Chainlink services and their optimizations for decentralization and low costs made Chainlink Keepers a logical choice, ultimately freeing up precious development resources that can go towards further optimizing our core protocol and yield strategies.”
– ETHA Lend Co-Founder Danny Boahen

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