What is Idle Finance? Idle Finance a decentralized finance protocol used to let users maximize profits and minimize risk of DeFi assets. So what makes Idle Finance stand out? Let’s find out with Weakhand.
To understand more about Idle Finance, please read the articles below:
- What is AAVE V3? Overview of AAVE’s Latest Updates
- What is Compound (COMP)? Compound Cryptocurrency Overview
- What is Lido Finance (LDO)? Overview of Electronic Conveniences Lido Finance
What is Idle Finance?
Overview of Idle Finance
Idle Finance a decentralized finance protocol building a suite of products that harness the power of DeFi. Idle Finance allowing users to optimize their digital assets on leading DeFi protocols.
Through Idle Finance, cryptocurrency investors can establish an investment portfolio that best manages their risk appetite. Once a user deposits, the funds are automatically distributed among a series of DeFi protocolsallowing them to earn profits. Portfolios are regularly rebalanced as better opportunities arise, and the dashboard provides at-a-glance insight into how funds are performing.
Idle Finance offers one of the best interest rates on DeFi protocols such as Aave, Compound, Oasis, DyDx,… Idle Finance users do not need to move assets from one protocol to another, it will be automated. When the highest rate in a DeFi project becomes available, funds are automatically transferred.
Currently, Idle Finance is supporting blockchain Ethereum and Polygon, supporting assets: DAI, USDT, USDC, WETH, stETH, stMATIC; Supported protocols: Lido, Clearpool, Instadapp, Morpho.
Highlights of Idle Finance
- Decentralization through Ethereum smart contracts.
- Supports leading protocols Compound, Aave, dYdX.
- Supports top stablecoins DAI, USDC and USDT.
- Availability of a risk assessment system for using DeFi protocols.
- Supports automatic currency rebalancing.
Idle Finance’s operating mechanism
- Maximize income: After a fundamental analysis of interest rates for various DeFi protocols. The analysis includes supply and demand, total liquidity in the pool, etc. This way, Idle Finance users get the most profit without having to manually monitor prices and lose money in transaction fees when depositing accounts. assets from one project to another.
- Risk reduction: Idle Finance thanks to its complex algorithms, chooses the best rates with low risk. Analyze supply and demand levels, assets in the group,…
Products of Idle Finance
Best Yield: An aggregator designed to maximize profits, automatically analyzes supply rate functions across integrated protocols and pool totals to continuously rebalance capital across any number of protocols to earn the highest interest rate possible with very high accuracy. Best Yield benefits users by socializing gas costs, automating profit generation and rebalancing, and automatically transferring capital when opportunities arise.
Yield Tranches: YT is a capital pool that automatically generates and allocates returns and risk based on a range of market-neutral return strategies, including lending income, trading fees from Automated Market Makers and incentive farming protocol. The group is associated with two risk-adjusted classes: tranche Senior and Junior. Yield tranches provide risk diversification, on-chain default settlement, and adaptive yield splitting to scale liquidity in any scenario.
Idle Finance’s Development Roadmap
Updating
Core Team
Matteo Pandolfi – Co-Founder & CEO
- Matteo Pandolfi graduated with a degree in Economics and School Management Ca’ Foscari University of Venice; Pandolfi studied Business and Information Management at the Institute British Columbia Technology; Pandolfi earned his PhD in Entrepreneurship and Finance from the school Ca’ Foscari University of Venice.
- Matteo Pandolfi is an IT Audit and Supply Chain Management Intern at SRL Data Services in 2016; In 2017, Pandolfi did Video production management in TEDxTreviso; July 2018 – June 2019 is Data Management & IT Process Integration CDeloitte company; April 2021 to present: Program Mentor, DeFi Advisor at Tachyon Accelerator.
- From July 2019 until now, Pandolfi has worked at Idle finance as Co-Founder & CEO.
William Bergamo – Co-Founder & CTO
- William Bergamo holds a Bachelor’s degree in Computer Science from the University of Ca’ Foscari Venezia.
- William Bergamo was Founder at Wima di William Bergamo from August 2010 – August 2013; Worked at FunGo Studios from June 2013 to March 2014 as a web programming intern; From November 2013 – May 2015 worked at Lelylan as a Developer; From March 2014 to June 2019 Bergamo worked at Pitchtarget as a User Interface Developer and Software Developer.
- From June 2019 until now, William Bergamo is Co-Founder & CTO at Idle finance.
Investor
Updating
Tokenomics
Information about IDLE Token
- Token Name: Idle Finance
- Symbol: IDLE
- Blockchain: Ethereum
- Contract: 0x875773784Af8135eA0ef43b5a374AaD105c5D39e
- Total supply: 13,000,000
IDLE Token Allocation
- Ecosystem Fund: 15% equivalent 1,950,000 IDLE
- LPs Fund: 4% equivalent 520,000 IDLE
- Team + Future Team: 22.7% is equivalent to 2,951,000 IDLE
- Investors: 17.3 % equivalent to 2,249,000 IDLE
IDLE Token Release
- Team + Future Team: Lock period 3 years, 33.33% unlocked after 12 months, 66.67% are linearly unlocked over the next 24 months.
- Investors: T2-year lock-in period: 25% unlocked after 6 months, 75% unlocked linearly over the next 18 months.
IDLE Token Use Case
- Lending, Borrowing and Collateral
- DEXs liquidity provision
IDLE Token Exchange
Currently IDLE tokens are being traded on the following exchanges: UniSwap
Idle Finance Project Information Channel
- Website: https://idle.finance/
- Twitter: https://twitter.com/idlefinance
- Medium: https://medium.com/idle-finance
- Discord:
Summary
Idle Finance is a decentralized protocol that helps users maximize profits and minimize risks of DeFi assets through DeFi protocols such as Aave, Compound, Oasis, DyDx, etc.
Hopefully this article provides readers with useful information about the Idle Finance project and IDLE Token