Casa wallet launches Ethereum vault relay service for increased user privacy

September 7, 2023 Coin Telegraph

casa

Private key manager Casa has launched a transaction relay feature to offer its Ethereum users more privacy when transacting from their personal vaults.

Cryptocurrency self-custody platform Casa has rolled out new functionality for its recently launched Ethereum (ETH) vaults that will allow users to transact via a relay for added privacy.

Casa added a multisignature Ethereum self-custody vault to its initial Bitcoin (BTC) custody offering in June 2023, allowing users to manage the self-custody of their ETH holdings with up to five private keys to secure their assets.

In an effort to afford more transactional privacy to its ETH users, Casa has introduced a mechanism that allows users to make use of an ETH Pay Wallet as a relay to create and transact from their vault.

As the company explained to Cointelegraph, Casa had previously assisted users with interactions between their ETH vaults and the Ethereum blockchain through its inhouse Casa Relay.

This bridge allows users to carry out specific actions, including deploying contracts and sending transactions, while fronting gas costs. The firm notes that a caveat of this function is that users’ Ethereum addresses associated with Casa can be publicly viewed through blockchain scanning tools.

Casa’s solution involves the use of an ETH Pay Wallet, a new alternative single-signature wallet that can be used as a relay to transact from a vault. Casa CEO Nick Neuman tells Cointelegraph that gas fees and transactions sent from an ETH Pay Wallet will not be associated with Casa on-chain.

Neuman added that the feature presented an opportunity for customization for its users and had been in development before the launch of its ETH custody vault.

“We were proactive in developing the Pay Wallet Relay because we knew some of our more advanced members would enjoy enhanced on-chain privacy while others would enjoy the simple convenience of the Casa Relay.”

Neuman also clarified that the ETH Pay Wallet would not afford anonymity associated with obfuscation tools present across the cryptocurrency ecosystem:

“It’s not an obfuscation service — all on-chain activity will be viewable just like with any wallet. This just removes the connection to Casa on-chain.”

The service involves additional steps compared to the Casa Relay and users are required to cover gas fees with their Pay Wallet, with the trade-off being added privacy for users looking to avoid on-chain ETH addresses being connected to Casa.

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Yearn.finance opens vault deployment access to all users

January 10, 2023 Coin Telegraph

Coin Telegraph

“All factory-deployed vaults have no management fees and a flat 10% performance fee,” the DeFi project wrote.

Decentralized yield protocol Yearn.finance said in a Jan. 9 tweet that all users can now create sophisticated Permissionless Vault Factories on its platform. The current version of Vault Factory works with stablecoin-swapping platform Curve Finance and its liquidity provider (LP) tokens and features three premade yield strategies.

“Our new Permissionless Vault Factory lets anyone deploy an auto-compounding yVault for any Curve pool with an active liquidity gauge. Yes, anyone. Factory-deployed vaults have no management fees and a flat 10% performance fee. Nice!”

As told by Yearn.finance, the first, dubbed “Boosted Factory,” uses Yearn’s vote-escrowed CRV balance of 45.1 million to give users a maximum boost of 2.5x on CRV rewards. The second, “Convex Factory,” supplies additional CRV LP tokens beyond the maximum to the decentralized platform Convex Finance to earn CRV and CVX rewards. Finally, “Convex Frax Factory" enables users to access rewards on the Frax Share algorithmic stablecoin platform.

“In all three strategies, any earned tokens are regularly claimed, sold for more of the underlying Curve LP token, and then deposited back into the strategy to compound the yield.”

Yearn.finance stated that the Vault Factory represents a “massive” step forward in automation that allows the firm to reduce its cost of operations. All vaults deployed using the new method will incur a management fee of 0% and a performance fee of 10%. Previously, management and performance fees were 2% and 20%, respectively. Performance fees go to the Yearn treasury and are calculated on top of profits. In addition, the deposit and withdrawal fees are also set at 0% for the new self-created vaults, although gas fees are still incurred during interactions.

Permissionless finance just got permissionless-er.

How much bear marketing building can we fit into one video? Let’s find out anon, try not to blink… pic.twitter.com/vYj7DcRMBo
— yearn (@iearnfinance) January 9, 2023

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Badger DAO and RenVM announce launch of BTC-on-Ethereum ‘Badger Bridge’

April 26, 2021 Coin Telegraph

Badger

The bridge gets a makeover with Badger branding, and will allow users to deposit newly-wrapped BTC into yield-bearing vaults with a single click.

Decentralized finance (DeFi) protocols Badger DAO and RenVM have announced today the launch of “Badger Bridge,” a Bitcoin-to-Ethereum bridge that will allow BTC holders to bring their Bitcoin to Ethereum and deposit it into yield-bearing vaults purportedly with a single click.

“The Badger Bridge is the first of its kind to enable users to earn yield on their tokenized Bitcoin immediately, all while transacting within the same app. What used to be an arduous process to obtain yield on your Bitcoin is now just a few short clicks,” reads a blog post from the Badger team. “With the launch of the Bridge within the Badger App, we have taken a significant step towards realizing the Badger mission of being the one-stop shop for users to put their Bitcoin to work.”

The announcement notes that since June of 2020, RenVM’s “wBTC.cafe has been responsible for successfully minting over 25,000 BTC,” or $1.3 billion in Bitcoin to wrapped Bitcoin conversions. Users of the rebranded Ren bridge are also incentivized with upwards of $6 million in $BADGER and synthetic Bitcoin $DIGG rewards: “Badger is incentivizing the transfer of up to 100,000 BTC ($5B) with nearly $6MM in user rewards to be paid out in 25,000 $BADGER and 100 $DIGG”

“BadgerDAO is becoming the one stop shop for BTC in DeFi, and RenVM is underpinning this functionality by providing seamless interoperability for their users,” RenVM COO Michael Burgess said of the integration. “Together we're truly expanding breadth and utility for that Bitcoin, and all of DeFi."

The integration via Ren notably removes the RenVM branding for the Bitcoin-to-Ethereum bridge/wrapper, redirecting Ren’s wBTC.cafe website to BadgerDAO’s Badger Bridge page. Ren will continue to provide the infrastructure for the swaps, however.

Burgess said that the decision was driven by an effort to streamline the user experience when it comes to wrapping Bitcoin and using it as collateral in the DeFi ecosystem.

"We wanted to strengthen our relationship with the BadgerDAO team and really make it the go to place for putting your BTC to work, so it’s a natural fit. Further, it helps from a UX perspective by consolidating this functionally for users under one roof."

The use of a second protocol on the backend bears similarities to Badger’s recent agreement with Yearn to build a WBTC vault. While Yearn strategists developed the vault, access to it is hosted on Badger’s website with a small “Yearn” tag and the two protocols will split the vault’s fees. It is currently under a guarded launch with over $9 million in BTC locked earning over 125% APY per year.

Badger currently accounts for $999 million in total value locked. Both $BADGER and $REN up on the day after weeklong pullbacks, rising 9.28% to $28.91 and 7.86% to $0.8497, respectively.

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