Instadapp

Instadapp, a decentralized finance (DeFi) platform, has highlighted the ability for users to earn rewards while borrowing on the 0xFluid protocol. According to Instadapp, users can receive ongoing rewards on Ethereum (ETH) when borrowing on 0xFluid, effectively getting 'paid' to borrow. One user was reportedly earning 14.3% on their position. Instadapp aims to build a suite of tools to leverage the full potential of DeFi and make it accessible to a wider audience.

Instadapp's fluid feature allows users to earn 13.5% on their $ETH collateral while only incurring a 12% cost to borrow $USDC. Additionally, supply rates for $USDC and $USDT range from 30-40%, with 50% being organic and 50% incentivized. Users are responding positively to the product.

Instadapp highlights the strengths of @0xfluid in the lending space due to its superior parameters like 85% LTV, 90% Liquidation Threshold, and 1% Liquidation Penalty. In comparison, Aave, Compound, and Maker have different parameters ranging from 77% to 83% LTV, 77% to 90% Liquidation Threshold, and 5% to 13% Liquidation Penalty. Fluid stands out as it is 5-13 times more efficient than the other protocols and boasts a mere 0.1% liquidation penalty for the wstETH <> ETH pair.

Instadapp retweeted an interesting update: In less than 24 hours, 0xfluid has reached $11M in Total Value Locked (TVL) with around $24M in total supply and approximately $13M in total borrow. Users can currently earn over 100% in Annual Percentage Rate (APR) on stablecoins through ongoing rewards. Additionally, users can earn 15% APR on ETH collateral while borrowing stablecoins against it.

A proposal has been made to add @0xfluid and update configurations in the Instadapp Lite vault. This proposal will be executed on-chain once Fluid goes live. Additionally, the launch of Fluid is scheduled for tomorrow.

The proposal to update the timelock contract and transfer @0xfluid's initial rewards to the team multisig is now live.

Morpho Blue is now available on Instadapp Pro, allowing users to take advantage of higher LTV and rewards.

Instadapp announces that IGP#6 has been passed, allowing support for @sparkdotfi and @MorphoLabs v3 on the Lite ETH vault. This enables users to achieve better APR and diversify assets with blue-chip protocols.

Instadapp Pro has added CurveUSD to its platform. Users can now mint $crvUSD using a variety of collaterals and take advantage of CurveFinance's enhanced liquidation mechanism.