In an announcement made on X today, Earn Network officially joined Aleph Zero’s Ecosystem Funding Program (EFP) as a grantee from its $50 million grant pool. Since Aleph Zero launched the EFP, it has been dedicated to its mission of providing funding for projects and protocols, at all stages of growth, looking to advance the expansion and adoption of the Aleph Zero ecosystem.
Earn Network is the latest project to be added to this ecosystem.
In this article, we’ll take a look at:
What is Earn Network?
Key features
Earn Network integrates with Aleph Zero
How Earn Network plans to leverage this partnership
Core team members of Earn Network
What is Earn Network?
Earn Network is a platform that offers multiple yielding opportunities for investors. It is an open, global marketplace powered by smart contracts that connects liquidity providers and pool creators.
Described as a ‘no-code’ platform that allows easy deployment of products that offer an array of investment opportunities like RWAs, LSDs, SocialFi, and AI assets for users, Earn Network aims to bridge the gap between TradFi (traditional investment) models and the wide range of opportunities provided by the DeFi landscape, thereby promoting a more inclusive and accessible financial ecosystem.
With an easy-to-use interface, Earn Network is the investor’s go-to liquidity marketplace.
Key Features
Earn Network offers a wide range of services on its platforms but has four key services for which it is known to offer and they are DeFi staking, restaking, lending, and flash pools.
DeFi Staking: this is perhaps one of the common services carried out on the platform. Earn Network is a marketplace where anyone can stake their crypto assets. There are multiple tokens across various networks available for staking. What’s more? The ease that the platform provides.
Restaking: if this term is new to you, restaking is the act of using an already staked cryptocurrency to commit (restake, delegate) to another protocol. The restaked cryptocurrencies can then be used to validate transactions on the other protocol, as well as provide security for it. Stakers whose tokens are restaked get more rewards and in some cases, are also exposed to more risks, slashing for instance.
Currently, Earn Network only supports restaking across blockchains (zones) connected to the Cosmos ecosystem.
Lending: like other DeFi protocols, Earn Network is set to offer lending services to users. This feature is expected to go live by the end of Q1, 2024. It will allow users to loan their crypto assets, select their repayment date, interest, and grace period for repayment of loans, customize their collateral structure, and even more.
The native token of Earn Network is $EARN and its utilities vary:
Payment for services carried out within the platform.
Platform fee distribution.
Users get rewarded with higher yield should they choose to claim staking yield in $EARN.
N.B: this is NOT a piece of financial advice to buy the aforementioned token. DYOR before the decision to invest in any token. Stay safe!
Earn Network Integrates with Aleph Zero
As stated in their blog, the Earn Network team plans to utilize the grant support to advance their “technological solutions and integrate seamlessly within the Aleph Zero ecosystem.”
The main goal of this integration for Earn Network is to maximize the enhanced capabilities of the Aleph Zero blockchain as a base layer to improve the security, speed, and scalability of both current and future products on the platform. Also, the roadmap includes plans to develop locked & flexible smart contracts that will be compatible with Aleph Zero to improve the DeFi and NFT staking services provided by the platform.
This partnership will greatly benefit users on the Earn Network and also help Aleph Zero’s EFP projects.
How Earn Network Plans to Leverage this Partnership
Aleph Zero as a base layer: Aleph Zero is one of the top and fastest blockchains to build web3 protocols on. The incorporation of Aleph Zero as a base layer will create a realm of opportunities both for users within Earn Network and beyond.
Enhance DeFi Staking: One of the core pillars on which Aleph Zero stands is its ability to allow developers to deploy secure, scalable, and private-enhanced products across multiple areas of web3 including DeFi. DeFi has experienced unprecedented growth over the years and staking is a popular service offered by DeFi protocols. Aleph Zero’s approach and understanding of the potential behind DeFi has led to its preference as the layer 1 blockchain to launch DeFi protocols.
The DeFi Staking product on Earn Network will explore Aleph Zero’s tech to ensure that users can stake their tokens in a safe staking and scalable environment that will not only offer security but also proffer better yield on investments.
NFT Staking: With this integration, users are provided with ingenious and alternative ways to gain profit from their digital assets. This is equally going to be beneficial for projects that offer NFT staking-as-a-service as they’ll get to see better and easier approaches for launching staking programs for their NFT collections.
Marketplace Growth: This integration gives room for Earn Network to expand its marketplace and offer investors more opportunities to earn passive income.
User Experience and Accessibility: Since its launch, Earn Network has had one long-term mission which is to empower every individual with a solution that offers various investment opportunities so that they gain financial freedom, with no bias. Earn Network is big on ensuring that users have the optimal experience that will make their DeFi journey seamless and so, with the integration of Aleph Zero, more efforts can be channeled into creating that platform.
Core Team Members of Earn Network
Bartosz Pozniak: is the Founder of Earn Network and has proven himself a believer in Aleph Zero’s ability to create a true blockchain infrastructure that solves the blockchain trilemma. Integrating Earn Network into the Aleph Zero ecosystem isn’t exactly his first rodeo with Aleph Zero.
Earlier this year, Bartosz’s second company, MyContainer integrated the Aleph Zero token ($AZERO) and business ecosystem into its platform. MyContainer is an international crypto staking platform where users can stake over 100+ crypto assets to earn passive income. The integration wasn’t limited as it also paved the way for MyContainer to act as testnet & mainnet validators of the Aleph Zero blockchain.
Bogdan Sinicki: is the Lead Smart Contract Architect at Earn Network, with over 5 years of experience working developing smart contracts and crypto trading platforms.
Kamil Chmielowiec: is the Head of Partnerships at Earn Network. He has over 3 years of experience working on partnerships for multiple crypto projects.
This integration is a big win for Aleph Zero and an even bigger win for Earn Network as it marks the beginning of a new chapter.
To learn more about Earn Network, visit here
To learn more about Aleph Zero, click here
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