What Is Ola Finance?

2021-08-01 08:00:00 · 458 views · 4 min read

 

Ola Finance is a platform on Fuse Network that lets you create a Compound/Aave-like instance that includes whichever tokens you likes. 

Currently, you can use the Fuse LeN, where you can supply/borrow $WBTC, $WETH, $USDC and $FUSE tokens.

What’s the advantage of using Ola Finance? The high APY! We can compare its APY with the top Ethereum lending protocol Aave.

  • $ETH / $WETH

If you supply $ETH in Aave Protocol, the APY is 0.02%, plus 0.57% $AAVE rewards. If you transfer your $ETH to Fuse as $WETH and supply it in Ola Finance, the APY is 0.87%, 43.5 times compared to Aave, plus 7.1% $FUSE rewards.

 

  • $WBTC

In Aave, the APY for $WBTC is 0.05%, while the $WBTC APY in Ola Finance is 0.7%, 14 times Aave’s.

 

 

So with the same amount of crypto assets, you can get better returns from Ola Finance.

 

 

Then how’s its on-chain performance? Is Ola Finance under good conditions?

Launched for 73 days, this lending network still has a long way to go, as the user, volume and transaction numbers are much smaller than the top ones. The 30d volume -34.19%, and the 30d transactions -22.64%. 

 

 

You can track its on-chain data and see if Ola Finance will attract more DeFi users with its high APY.

 

 

You may also like:

 

Make sure you bookmark dapp.com and subscribe to our newsletter below to get updates direct to your inbox.

 

Comments Write Comment
Currently there are no comments for this article. Would you like to be the first to write one?