OneStake Finance, a DeFi yield aggregator, claims to be the first TVL-as-a-Service protocol that offers the highest APR possible on single staking. The project aims to provide solutions for casual and professional DeFi users along with exposure to the entire yield market. According to its website, “OneStake is the 1inch in the field of yield protocols.”
OneStake uses governance mechanics and TVL-as-a-Service to provide users with optimal yield opportunities. The protocol’s DAO analyzes all the assets and protocols interacting with OneStake before whitelisting and grouping them into one pool. For example, it creates one pool for Bitcoin, another for Ether, and a final one comprising stablecoins.
Each of these pools supports several whitelisted tokens according to the group’s criteria. Users can add funds through the protocol into any asset in a pool, then, the protocol automatically creates the coin swaps according to the current strategy in use.
OneStake analyzes the current APR and TVL for all assets of every whitelisted protocol every 4 hours. Next, it calculates the funds’ allocation to obtain the maximum APR. This process simulates the results according to extra investments in provider pools. Once it encounters optimal distribution, it calculates the rebalancing costs. This way, if these costs exceed the critical value, the protocol performs new calculations until it finds the best possible distribution. The protocol will only begin rebalancing once that happens. Also, it collects staking rewards every 2 hours unless it sells or reinvests them back into the pools.
iUSD – Reserved by Profit
OneStake uses iUSD, an interest-bearing token, to help users obtain the highest possible yield. Every time users deposit funds, the protocol mints iUSD tokens and, subsequently, it burns them whenever a withdrawal occurs. iUSD is pegged at a 1:1 ratio to the deposited asset, and users can freely store, transfer, or trade it.
Users can stake assets on smart-strategy protocols, such as Convex, Yesper, or Yearn, and accrue iUSD tokens in their wallets in real-time. And thanks to the protocol’s automatic rebalancing mechanism, they always have access to the highest possible APR at the time of rebalancing. iUSD is similar to the aToken on Aave. However, it aims to provide high APRs in the DeFi market. Lastly, the OneStake mechanics may solve the issues deriving from high gas costs.
According to its blackpaper, OneStake has two goals. Firstly, it seeks to help expert traders get the best results in the DeFi yield market. Secondly, it aims to make this process more accessible to new or casual users. It does so by aggregating other protocols, consolidating them into pools, and distributing OneStake’s TVL between them.
The protocol charges a 20% Performance Fee and a 2% Streaming Fee in terms of revenue. It uses them for buybacks and distribution in case of inefficiency. Half of these fees go to buybacks and a reserve fund, while the rest go to the strategy developer.
OneStake users can access the many benefits of iUSD tokens, such as unlocking the liquidity of staked assets. Alternatively, they can use iUSD as collateral for loans to leverage positions. Lastly, they only need to hold iUSD in their wallets and get exposure to the whole DeFi yield market with the highest APR possible.
OneStake Finance is a DeFi yield aggregator aiming to amass the services of all notable yield protocols in one convenient platform. The project is listed in Estonia as an official business, and its team has successfully passed KYC procedures with Solidproof. While the project is still in its early development stages, it is progressing fast thanks to a highly-skilled and professional team.
Working with major industry blockchains, such as Aave, Compound, Curve, and Yearn, helps OneStake establish itself in the yield market. Currently, the team is looking for experienced VCs to give the project a competitive advantage in the market.