Staked announced the launch of their Robo-Advisor for Yield (RAY) which allows holders of ETH, DAI, and USDC to automatically earn the highest yield available on the market. RAY currently supports a handful of major DeFi lending platforms including Compound, dYdX, and bZx.
Under the hood, RAY is a set of smart contracts constantly looking out for the highest yielding opportunities in the lending market. With RAY, investors can deposit assets into the smart contract, select which platforms can be considered and RAY will monitor the yields on each of the respective platforms.
Users looking to leverage RAY will keep custody of their crypto assets when depositing into the smart contracts and investors will receive a unique ERC-721 which represents claims to their assets. It is important to note that during the early stages, Staked will retain an emergency trigger to ensure funds are directed to the owners in the instance of a bug or a malicious actor. After two weeks, Staked anticipates removing the emergency trigger.
In the future, Staked and RAY is planning on supporting plenty of other features and platforms including automated allocations for staking across networks, the Dai savings rate, market-making, arbitrage, and more.
The development company, Staked, is largely known for running staking infrastructure for major digital assets using Proof-of-Stake consensus. Some of the supported platforms include Cosmos, Algorand, Tezos, Dash, Decred, Livepeer, Loom and more.
Analyst at Bankless – one of the leading resources for open finance. Lucas is an active contributor to the DeFi ecosystem with appearances in other notable DeFi outlets including The Defiant and Our Network. He has years of experience working with dozens blockchain and token startups where he focused on token economics, marketing, and growth.