Today, Enzyme is excited to announce a new integration with Aura Finance. This new integration further expands our DeFi operating system, enabling Enzyme asset managers to boost the yield of their Balancer LP positions and earn additional BAL staking rewards.
What is Aura Finance?
Aura is an autonomous, non-custodial platform built to boost the yield and governance power of Balancer users and beyond. Aura Finance is designed to provide maximum incentives to Balancer liquidity providers and BAL stakers (into veBAL) through social aggregation of BAL deposits and Aura’s native token.
For BAL stakers, Aura provides a seamless onboarding process to veBAL, by creating a tokenized wrapper token called auraBAL that represents the 80/20 BPT locked up for the maximum time in VotingEscrow. This can be staked to receive existing rewards (BAL and bb-a-USD) from Balancer, in addition to a share of any BAL earned by Aura, and additional AURA. This minting process is irreversible however users can trade their auraBAL back to BAL through an incentivised liquidity pool.
For Liquidity providers, Aura abstracts complexity of depositing into the Balancer gauge system, providing a smooth onboarding process to all Balancer gauge deposits. Aura allows depositors to achieve a high boost through the protocol owned veBAL while also accumulating additional AURA rewards.
The AURA token acts as a governance and incentivisation tool within the ecosystem. Locked AURA tokens will have governance rights in the system and will be able to vote using the protocol owned veBAL voting power as well as on internal proposals.
Why should you use Balancer and Aura Finance on Enzyme?
Thanks to our recent integration with Balancer, Enzyme asset managers can now access up to 10 Balancer Pools on Ethereum. This offers exciting opportunities to provide liquidity and generate additional rewards. Within Enzyme, asset managers can easily view a pool’s composition, the total pool value, current APR’s and any associated rewards.
And now, with our addition of Aura Finance, it’s possible to boost yield potential on 6 of these pools by providing liquidity on Balancer and depositing your Balancer Pool Tokens (BPTs) into Aura to earn Balancer trading fees, boosted BAL rewards and AURA.
Enzyme will initially support Aura via the following Balancer pools:
- Balancer 50 WBTC 50 WETH Aura Deposit
- Balancer 50 USDC 50 WETH Aura Deposit
- Balancer 50wstETH-LDO Aura Deposit
- Balancer 80 LDO 20 WETH Aura Deposit
- Balancer stETH Stable Pool Aura Deposit
- Balancer rETH Stable Pool Aura Deposit
How does this integration benefit Enzyme asset managers?
Enzyme’s integration with Aura Finance offers additional benefits to Enzyme asset managers. By providing liquidity on Balancer and depositing Balancer Pool Tokens (BPTs) into Aura Finance, asset managers can earn Balancer trading fees, boosted BAL rewards, and AURA, resulting in an increase in yield potential.
For Liquidity providers, Aura abstracts complexity of depositing into the Balancer gauge system, providing a smooth onboarding process to all Balancer gauge deposits. Aura allows depositors to achieve a high boost through the protocol owned veBAL while also accumulating additional AURA rewards.
With Enzyme’s seamless DeFi operating system, asset managers can manage all of these benefits in one place. Accessing Balancer and Aura Finance via your Enzyme Vault enables you to earn attractive yields, track real-time performance, and interpret transactions in a human-readable way. All of this Vault information is fed by Enzyme’s on-chain data pipelines, opening up a robust, secure and trustless on-chain asset management future.
How to get started
To get started, simply follow the steps below. It should take you less than 5 minutes to complete your first transaction:
1. Connect your wallet on https://app.enzyme.finance/discover
2. Navigate to DeFi Protocols, then select Balancer
3. Managers can then elect to open positions based on the available Pools
4. Once you have opened a Balancer Pool position, you are now ready to boost your rewards
5. Navigate to DeFi protocols, then select Aura
6. Click on the Deposit button of the pool you would like to stake.
7. Enter the balance amount of assets and click on Deposit and Stake. You can either stake your BPT or directly deposit the underlying assets of the Balancer Pool.
8. To learn more, please visit our docs here and here
Interested in launching your own vault? 🚀
With Enzyme’s v4 Sulu, it’s never been easier for asset managers to create custom on-chain strategies and access dozens of DeFi dApps, 200+ digital assets and now Balancer pools in one simple, trustless and efficient platform.
At Avantgarde, we help a range of clients — including HNWIs, family offices, crypto funds, DAOs and institutions — launch their own DeFi strategies on Enzyme. Click here to get in touch and a member of our team will be happy to reach out.
- For business enquiries, please contact: luca@avantgarde.finance
- For marketing enquiries, please contact: conor@avantgarde.finance
- For support enquiries, please contact: support@avantgarde.fiance
