Revault Network to Power its DeFi Application With Orbs 3.0

Eran Peled
Eran Peled

|

3 months ago

blog

Orbs and Revault Network announce a partnership to utilize Orbs Layer-3 (L3) architecture to enhance the Revault protocol.

Revault will utilize Orbs 3.0 capabilities in order to decentralize the operation of its protocol’s components and features which are currently run in a centralized manner.

The Orbs public blockchain infrastructure, powered by its Guardians (a public network of permissionless validators), recently introduced its L3 execution layer concept, which operates in conjunction with EVM-based L1s and L2s, to enhance the security and reliability of DeFi applications.

Revault: Maximize your vaults’ APY!

Revault is a vault aggregator aiming to become the “Google search engine” of DeFi.

The Revault engine automatically finds and deposits funds in the best performing vaults in the market at any given time.

pyramid

Revault continuously indexes every vault in the market to bring its users the top results for any asset at any given time. If Revault finds a better vault for your asset, an alert is issued and with one click you can move your funds from your existing vault to the better one, thereby maximizing your APY.

Layer-3 Decentralization Using Orbs

Revault network will utilize Orbs 3.0 capabilities to power 3 of its main features, in order to enhance their robustness, reliability and security:

a) Auto-compound

Revault’s auto-compound tool, which currently runs in a centralized manner, enables Revault’s users who are staking their REVA tokens to automatically re-stake their earned REVA in order to increase their APY.

In the below example, the auto-compound feature increases the staking yield from 60.52% APR to 83.07% APY:

autocomp

b) TVL-APR Calculation

$REVA is the native token of the Revault Network. It has several utility functions such as being the governance token of the Revault DAO for voting on different protocol proposals, as well as being eligible for part of the protocol profits.

REVA is also used to incentivize users to deposit funds in the Revault’s vaults, in order to earn additional REVA rewards, in addition to the vault’s APY. For this feature, Revault will use Orbs to determine the total vault’s TVL in order to calculate the REVA rewards APR.

Similar to the auto-compound, this function is also run centrally at the moment and will be integrated into the Orbs network to be executed decentrally by the Orbs validators.

c) Auto-rebalance

The auto-rebalancing feature is planned further down the project’s roadmap and will serve as one of the main features offered by the Revault network.

As mentioned above, the Revault engine indexes the top results for any asset at any given time. Once a vault with a higher APY is found, an alert is issued prompting the user to rebalance their position into the better vault.

The auto-rebalance, once enabled by the user, will execute the rebalancing action automatically. Meaning that Revault will continuously scan the market for the best performing vaults and will rotate the users funds in order to maximize the APY. All of this will be powered by the Orbs Network’s unique consensus as a service L3 architecture.

rebalance

Orbs: Decentralizing DeFi

Similar to Revault, most of today’s DeFi applications run many of their features in a centralized manner. This is due to the limitations of EVM-based L1 and L2 chains which are not built to provide the proper infrastructure to execute these features in a decentralized way.

Orbs, with its unique hybrid architecture, designed for interoperability with EVM compatible blockchains such as Ethereum, Binance Smart Chain, Polygon and Avalanche, can provide the tools for enriching the capabilities of EVM smart contracts.

In the short time since launching its L3 initiative, already we are seeing “L3 applications” powered by the Orbs network. These include the Open DeFI Notification Protocol which is an open initiative to provide users with decentralized and free mobile notifications for on-chain events.

Orbs novel L3 value proposition opens the door for many more exciting and innovative applications in the DeFi space which are currently not available. We expect many more DeFi protocols to utilize this unique feature offered by the Orbs network in order to extract more value for their users.

Be sure to join the Official Orbs Telegram channel for more updates.

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