Salience Finance
Multichain lending protocol with instant yield strategies
Salience Finance is a modular lending protocol offering DeFi users instant access to yield strategies across multiple chains. Featuring a zap-in functionality, Salience enables users to choose from a curation of the best yield strategies while catering to various risk preferences. Salience’s wide range of integrated DeFi products enhances the creation of new yield strategies for unparalleled capital efficiency.
How does it work?
Salience is game changing because it builds upon Euler Finance’s permissionless framework to offer an endless assortment of DeFi products.
Assets deposited into ERC-4626 vaults are stored and managed according to specific rules. The Ethereum Vault Connector (EVC) connects different vaults and checks the user’s actions, such as borrowing, with a special liability vault to ensure the action is feasible.
In addition to other checks, this process enables users to create complex vaults that go beyond simply borrow and lending while protecting the protocol from bad debt. Salience enables the use of operators, which are EOA smart contracts, that users allow to perform actions on their behalf to launch automations, manage and modify positions, set market orders, and more.
Liquidity is also shared with the Euler Finance ecosystem, so users gain access to more tokens and competitive rates. Protocols will easily be able to integrate with Salience to earn fees or add reward streams to vaults to incentivize participation.
tl;dr: Salience is DeFi yield aggregator and management system, offering users simple and instant access to complex yield strategies.
Vaults can be constructed to do more than just borrow and lend. Users can create leverage positions, synthetic assets, stablecoins and flatcoins, LST & LRT positions, delta neutral strategies, cross protocol strategies, and much more. These are just a few vaults currently being planned in development.
Vaults can also be used as collateral by other vaults or operate as isolated markets. They can accept ERC20 tokens, RWAs, and NFTs, among many other assets. Vaults can also reward users for depositing collateral, borrowing assets, or other actions.
Yield strategies are built from these highly customizable vaults. Vault creators can choose different DeFi products and risk parameters such as oracle sources, loan-to-value ratio, borrow caps, acceptable types of collateral tokens, and more. Salience will launch community-vetted vaults while incentivizing vault creators to develop new yield strategies.
*Note: The interfaces below are only for reference.
To create a leveraged position, deposit collateral and choose a leverage ratio. Then, borrow funds to amplify your buying power. Execute trades accordingly. Remember, leverage magnifies both gains and losses, so manage risk carefully. Close positions to repay borrowed funds.
Synthetic assets can mirror the value of real estate, indexes, commodities, and other assets. Deposit collateral to mint synth tokens reflecting the asset's value to gain exposure without direct ownership.
Stablecoins are created by collateralizing crypto assets, then minting tokens pegged to the collateral's value through a protocol. Flatcoins can be pegged to relative indexes. Both offer stability and liquidity, facilitating seamless trading and redemption for underlying assets.
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Liquid Staking Tokens (LST) and Liquid Restaking Tokens (LRT) are utilized in yield strategies by staking assets to earn rewards. LST represents staked assets, enabling liquidity while accruing staking rewards. LRT, derived from LST, allows users to further optimize rewards by restaking.
Delta neutral strategies aim to minimize directional risk by balancing positive and negative deltas in options or derivatives positions. Hedging techniques, like buying/selling underlying assets, are employed to maintain a neutral position, ensuring profits regardless of market direction.
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To utilize other protocols for yield, users can deploy assets across lending platforms to capitalize on interest rate differentials, exploiting arbitrage opportunities. By borrowing assets at lower rates and lending at higher ones, users can maximize yield through interest rate arbitrage strategies, enhancing overall returns on their investments.
Vaults, DeFi products, yield strategies, protocols, and the community make up the foundation of the Salience Ecosystem.
Salience will initially launch on Ethereum mainnet, and later support other compatible chains while incorporating external yield sources and integrations with other protocols.
Salience Finance works within the Euler Finance ecosystem by building on their innovations, such as the Ethereum Vault Connector and Euler Vault Kit, to present accessible yield strategies to DeFi users from all backgrounds. Salience focuses on simplifying complex strategies, creating an easier user experience, and incentivizing active engagement with the ecosystem.
For comparison, Euler Finance is similar to Liquity or Synthetix while Salience is like DeFi Saver or Toros. Salience will stand out by curating and incentivizing yield strategies that cater to different risk preferences.
Governance will initially be controlled by the team to minimize unnecessary excessive supervision from the community, enhance protocol security, and rapidly advance the growth of the ecosystem. In the future, governance will gradually find its foothold in the community's hands through a decentralized distribution of control to the most engaged stakeholders.
In the early stages of development, users can earn points by interacting with the protocol. A point system will be launched and weighted based on a timely set of goals and objectives that deliver the most benefit to development and growing the community. While common objectives can be completed by anyone, a series of salient objectives can only be completed by a limited number of outstanding qualified users.
To better understand the technical framework that powers Salience, please refer to the Euler documentation below.
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Our seasoned team comprises degens with extensive backgrounds from reputable industry leaders. With expertise honed at renowned companies, we bring a wealth of experience to the table, ensuring top-tier performance and credibility.
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