Orbits and Bagels Join Forces to Accelerate DeFi Growth

Orbits and Bagels have entered into a strategic partnership that will help the DeFi ecosystem thrive.

Bagels Finance has officially announced a new strategic partnership with Orbits Finance. Bagels Finance is the first cross-chain leveraged yield farming protocol. Through this partnership, Bagels and Orbits will share TVL (total locked values) which will provide more liquidity for Bagels’ to execute their leveraged yield farming protocol. As part of the agreement, Bagels will extend Orbits reach beyond HECO onto BSC and Ethereum through a cross-chain aggregation protocol that achieves interoperability for Orbits on all three public chains.

Orbits’ new agreement with Bagels Finance comes on the heels of their recent partnership with Black Ocean, signalling their intent to continue building connections that spur the growth and prosperity of the entire DeFi ecosystem.

About Bagels Finance

Bagels Finance is the first cross-chain leveraged yield farming protocol, running on Heco, BSC, and Ethereum Layer2. Lenders can earn higher lending interest rates. By taking leverage up to 10X, yield farmers can earn a higher farming APY. Bagels will provide liquidity to yield farms on HECO, BSC and Ethereum on behalf of the yield farmers.

Shared TVL

TVL refers to the “total value locked” of DeFi projects, and is also a key indicator of DeFi depth. The higher the TVL, the better the pool depth, and the more sufficient the capital reserve is. This cooperation between Bagels and Orbits, where both parties share TVL, aims to enhance the capital reserves and improve liquidity support for both parties.

Solving the Liquidity Depletion Problem

Maker, AAVE and Compound are all lending platforms, just like Bagels. These lending platforms almost always have a liquidity depletion problem, thus depositors may not be able to withdraw assets which can cause them to lose confidence in the platforms. How does Bagels Finance solve this problem in conjunction with Orbits?

Consider this example: Orbits is an ultralow-slippage stablecoin exchange. Users who deposit USDT on the Bagels platform will receive gUSDT (an interest-bearing tokens). gUSDT has a transaction pair in Orbits’ Metapool, which is a wrapper coin representing three stablecoins: USDT, DAI and HUSD. Users can exchange gUSDT for USDT on the Orbits platform, which allows the gUSDT to always flow so that users are always able to withdraw their assets.

Bagels’ Cross-chain Aggregation Protocol (Dokadoa) is Leading Orbits out of the HECO Ecosystem

Currently Orbits Finance is limited to the HECO network. Bagels will launch the cross-chain aggregation protocol (Dokadoa) for Orbits, which will extend Orbits beyond the Heco ecosystem onto other chains such as BSC and Ethereum. The cross-chain aggregation protocol will also achieve multi-chain interoperability for the platform.

About Orbits Finance

Orbits Finance is a HECO-based low-slippage stablecoin exchange with a sizeable user base on HECO. It is dedicated to making large stablecoin transactions easier by reducing users’ transaction costs through the Stableswap AMM algorithm. When liquidity providers stake assets onto Orbits, Orbits’ established lending and revenue aggregation protocols can improve asset utilization rates, thus achieving the highest earnings for users with lower risks.

Website: orbits.finance

Twitter: @Orbits_Finance

Telegram: https://t.me/Orbits_Finance

Medium:https://orbits2021.medium.com/

Github:https://github.com/Finance-Orbits/orbits-contract

WEIBO: https://weibo.com/u/7558742309

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