February Recap By Summer.fi
This month, we had two exciting new releases that, respectively, help you to increase your exposure to ETH staking yields and offer further exploration in the Summer.fi ecosystem. You can read on to find out more.
Follow Vaults opened a new layer to Discover Summer where you can stay up-to-date and learn from your favourite positions. Read more in the blog post and go find a vault to follow!
The latest Earn strategy is designed to help you maximize profits easily and conveniently with Aave v3, whether you are an experienced Summer.fi Earn user or new to the space. Find more info in the dedicated blog post.
Last week we hosted Community Call #4 where we discussed the product updates. Read on in the community section of this newsletter and don’t miss our next call in March.
This week you’ll find some of our team at ETHDenver, which we are sponsoring, and hosting a booth with daily workshops. So if you’re there, find us and say hi!
Monthly Numbers
The market still is what it is, and we can't change it. But changing our perspective is always only just one thought away!
Our users are still active on Summer.fi, with <400 positions interacted with in February, and over half have set up automation features. If you haven't yet put automations in place, refer to the KB for info and guidance.
We build products and features for bull and bear markets so you can sit tight and relax every day of the year. Look out for more automation features coming in the pipeline!
Technical and Developments Updates
Follow Vaults is a useful tool that allows you to interact with the Summer.fi ecosystem and its users. Following different vaults you find interesting can provide you with valuable insights into other users’ approaches, help you understand their position, risk levels and profitability, and allow you to learn from their strategies.
You can browse and select the vaults that capture your interest through Discover Summer now, and subsequently all the vaults you follow will be listed on the “My Positions” page. Refer to the blog post for more info.
Summer.fi Earn introduced a new way to improve your ETH staking yields with Aave v3. Oasi s.app now offers the latest Earn strategy which provides users with the chance to get staking rewards of up to 9.99x via Aave v3 on mainnet, using the wstETH/ETH pair.
The strategy streamlines the process of increasing your exposure to Ethereum staking yields, as you can do this through a single transaction. The added convenience makes it simpler for you to maximize your profits with ease. Read more in the blog post.
Keep an eye out for upcoming releases and reach out on Discord for any product related questions.
Community Update
Last week we hosted Community Call #4 on our Discord server. We presented and made a demo of the latest releases, Follow Vaults and Earn with Aave v3. You can watch the recording on our Youtube channel.
We’re excited to announce that we’re sponsoring ETHDenver. You’ll find us at the Summer.fi Booth from March 1st to March 5th. Come and meet our team members to get some swag and attend our live workshops happening daily!
If you're interested in helping us build the most innovative DeFi products, you can do so by assisting us with user research, which won't take more than 5 minutes. We would appreciate your answers to these questions about the prototypes we're considering implementing, so that we can build the best products for you!
News From the World
Before we say goodbye, as always we want to share some snapshots of what is happening around us:
Swarm is introducing on-chain Apple and Tesla shares, in a push for the tokenization of Real world Assets (RWA’s). Co-founder Tim Lehes stated that while Swarm is starting with stocks and bonds, they will soon extent this to “any asset that needs to be traded on a regulated platform, from carbon credits, to real estate or private holdings”.
After many discussions around bringing RWA’s onto the blockchain took place in 2022, among which Vitalik contributed that it was one of the most interesting developments in crypto, it seems that many doors will be opening around the topic this year. Maker also took a big leap ahead in the charge with their exposure to RWA’s increasing from US$17M to US$640M, and Coinbase stated it is a trend to look out for in 2023.
The Digital Pound, or “Britcoin” will likely become a reality as a consultation paper has been released prior to plans for a CBDC in the UK. The Bank of England (BoE) may wait to consider the impact of other CBDC’s, such as China’s digital Yuan on both economies before making final decisions, however it seem the Treasury and BoE look to ready a CBDC.
Getting help
If you have any questions regarding Summer.fi in general, you contact us at support@summer.fi or on our social media.