EthNexus Vault
Our in-development EthNexus vault allows users on Ethereum to access our bAsset vault strategy currently live for bETH depositors on the Terra blockchain.
Summary of Strategy
By depositing ETH into our vaults deployed on the Ethereum blockchain, users will gain access to our bAsset vault strategies found here.
We aim to outperform pure ETH staking strategies currently available (the likes of Yearn, Convex and ETH 2.0 staking) with the added benefit of ETH auto-compounding. This comes along with a superior "one-click" user experience that obviates the need to create new wallets or to bridge assets.
When users deposit their ETH with Nexus Protocol on the Ethereum blockchain:
The vault will convert these deposits into stETH through Lido Finance
Bridge stETH to the Terra blockchain via EthAnchor developed by Anchor Protocol
Deposit the bridged token (now known as bETH) into Anchor Protocol according to parameters outlined by our bAsset vault strategy
Unlike our bETH vaults on Terra, users depositing with EthNexus vaults receive their yield in native ETH (which is auto-compounded for them) rather than $Psi rewards. For more information on how you can deposit into the EthNexus vault, please refer to our guide listed under this Docs' 'Ethereum' section in the 'User Guide' header. Note that you must have both a functional Metamask (for transactions on Ethereum) and Terra Station (for transactions on Terra) wallet to successfully participate in the vault.
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