TLDR:
- Enzyme’s Sulu is now live on Polygon as well as Ethereum!
- Users can now set up vaults, trade and interact with DeFi at extremely low gas costs!
- You’ll find that the interface has had a complete revamp
- App performance should be much quicker & smoother on Sulu
- You’ll see new DeFi integrations popping up by the day from here-on
- Learn about the pros and cons of Enzyme on Polygon vs Ethereum
- This release will support arbitrary adapters going forward. You no longer need the council to vote in an adapter, just add it yourself!
Enzyme users, say Hello to Polygon!
We’re very excited to announce that Enzyme’s Polygon deployment is now live!
Up until now, Enzyme was only available on Ethereum and just a few weeks ago we took our latest Sulu release live on Ethereum. Today, we’re announcing a live and operational mainnet on Polygon too.
Polygon users will enjoy substantially lower transaction costs and be able to interact with the fast-growing asset universe and DeFi ecosystem available.
There are obvious cost benefits for investors, too. Polygon’s faster transaction speeds and significantly lower gas fees will make the overall asset management experience far more affordable for many users.
This announcement follows the launch of our v4 Sulu — which offers users a completely new interface, dozens of DeFi integrations and access to hundreds of assets. Below we’ve also provided some information on the pros and cons of creating a vault on Polygon vs Ethereum.
Asset Universe & DeFi compatibility
The starting Polygon asset universe will consist of about 65 assets, made up of Polygon-native assets as well as Ethereum-native assets which have been mapped over to Polygon. In addition, Enzyme will support DEX trading with Paraswap and Uniswap, as well as lending and borrowing on AAVE. In addition we expect to add support for Curve pools, Pooltogether, Orion and Fuse in the coming weeks!
Features
In terms of new features, our latest release Sulu has a lot to offer!
- Customize your vault with its own ticker!
- Transferrable vault shares make it possible to create liquidity pools with your vault shares and/or trade them on the secondary market!
- A suite of new risk management tools makes it possible to delegate execution to third parties for efficiency with full protection.
- Redeeming is now possible in a single asset as well as “in kind” (you decide)
- A new type of fee is customizable on exit
- Charge gas costs to the vault! Set up the gas relayer and submit a refund request to the vault to expense trading costs.
- Use MLN to pay your fees and make yourself eligible for a 50% fee discount!
You can read more about these features in our original launch blog post here or go into the nitty gritty details in our docs.
Should I launch a vault on Polygon?
Pros
- Cost-saving benefits: Substantially cheaper to set-up a vault (up to 1,000x cheaper than using Ethereum)
- Lower gas fees: Polygon is more affordable for ongoing management of a vault (especially if you plan on executing frequent transactions)
- Speed: Faster transaction and settlement speeds
Cons
- Limited asset universe: The Polygon asset universe is not as diverse as Ethereum. For example, Enzyme currently supports ~65 assets on Polygon compared to 250+ assets on Ethereum. We’ll continue to add more assets to Polygon in the near future as liquidity continues to grow.
- Less DeFi integrations: We currently support fewer DeFi integrations on Polygon although we’ll be adding support for many more in the coming days and months.
Should I launch a vault on Ethereum?
Pros
- Diverse asset universe: Access more than 250+ assets and dozens of DeFi integrations
- Broader range of DeFi integrations: We currently support trading on Paraswap, Uniswap v2 and v3, 0x, Kyber, Curve, providing liquidity to Curve pools, Uniswap pools, Convex pools, Yearn strategies, Idle strategies and have many more integrations coming in the coming days and months.
- Gas relayer function: You can now charge gas fees directly to the vault rather than to the vault manager, making it more sustainable to run and manage your vault, especially if you plan to frequently execute transactions
- Layer 1 security: If you’re running a larger scale vault with long-term deposits, more variety and composable strategies, then Ethereum’s L1 security is a big plus
Cons
- Higher gas fees: Ethereum’s gas fees can get expensive over time, although our new Gas Relayer feature can enable vault managers to charge this cost directly to the vault
How do I create a vault on Enzyme?
- Access the app here, so you can explore the new options and features available to you.
- Sign up with your email address (not required but good to keep on top of latest protocol evolution and asset changes)
- Want to create a vault? Simply connect your wallet and choose a template. For instructions and advice, watch the Sulu demo video as a reference.
- Looking to invest in a vault? Explore the hundreds of options available to you and search by top performers, assets under management and more.
- Any feedback? Let us know here.
Join our growing community
If you’d like to become an active member in our growing community, then you can follow us on Twitter, join our Telegram and take part in our Discord.
We are very grateful for your continued support and interest in Enzyme. We take feedback seriously, so if you have comments, questions or concerns then do reach out and a member of the team will get back to you.
Thank you again for taking the time to explore Sulu. We look forward to hearing your results!
Kind regards,
Avantgarde Finance Team
