Revault Leverages Orbs’ Unique L3 Enhance Security and Decentralization
Revault, a blockchain vault aggregator, is integrating with the layer-3 technology of Orbs Network, which will help it decentralize its operation and enhance the reliability and security of its features.
EVM-based Layer-1 and Layer-2 chains are currently not designed to provide the proper infrastructure to execute automated vault maximizing strategies. Orbs is working on changing this through its unique hybrid architecture designed for interoperability with EVM compatible blockchains.
In this hybrid architecture of Orbs L3, layer 1 is for security and layer 2 for scalability, while layer 3 helps with building and extracting more value.
The EVM-compatible nature of Orbs makes it interoperable with Ethereum, Binance Smart Chain (BSC), Polygon, and Avalanche while enhancing EVM smart contracts and their capabilities without compromising decentralization.
Orbs is a public blockchain infrastructure founded in 2017, and its mainnet was launched two years later during the bear market. This decentralized protocol is designed for mass usage applications and executed by a public network of permissionless validators called Guardians using Proof-of-Stake (PoS) consensus.
Last year, the team started working on the Layer-3 initiative to cater to the broader DeFi ecosystem. Already, numerous L3 applications have materialized, starting with the Open DeFi Notification Protocol.
This protocol provides DeFi users with free mobile notifications for on-chain events that are believed to be the “critical piece of the DeFi infrastructure puzzle.” Users will get notifications from DeFi projects they want to be subscribed to with information about supply changes, large transactions, updates, governance proposals and votes, price swings, and liquidations.
Powering the “Google search for vaults”
Now Orbs and Revault Network have partnered to utilize Orbs L3 architecture to enhance the Revault protocol and counteract its centralized features.
This integration with L3 Guardians allows Revault Network to utilize the notification app for Revaults event and auto rebalancing, as well as execute the Withdrawalif feature, drawing out funds if certain conditions are met, on top of Orbs open DeFi notifications.
Orbs’ layer-3 technology will power three core features of Revault, including auto-compound, TVL-APR calculation, and auto-rebalance.
With so many projects popping up in the market today, Revault aims to maximize APY by becoming the “Google search for vaults”. To achieve this, the protocol constantly indexes every vault in the DeFi landscape for the best returns on your asset. Once a better vault is identified, a notification is sent to the user.
Through its auto-balancing feature, which is planned for release later this year, users will be able to rebalance their position into the better vault for maximum APY automatically. It will be powered by Orbs Network’s unique consensus as a service L3 architecture.
Moreover, Orbs will decentralize Revault’s auto-compound tool, which enables its users to stake their REVA tokens to automatically re-stake their earned REVA to increase their APY.
Much like with Revault, Orbs aims to open the door for many more exciting and innovative applications in the DeFi space through its L3’s unique value proposition.
Read more: https://dailycoin.com/revault-leverages-orbs-unique-l3-enhance-security-and-decentralization/
Text source: DailyCoin.com
