Great to see the @hydromarkets team tackling walletless onboarding. The wallet requirement is one of the main barriers keeping mainstream users from trying DeFi. It would be a big unlock to remove that friction entirely.
We’re very excited about the progress on walletless onboarding. Our integration with @WAVS_WAVS_WAVS will provide ATOM holders who stake on centralized exchanges a simple way to earn higher yield on their ATOM and route their voting power away from disengaged CEX validators. Here’s how it works: WAVS is a network of independent operators that compute offchain, verifying data or running expensive operations, then submit actions on-chain. This allows users to initiate on-chain deposits or withdrawals using off-chain identifiers like an email address. If a user has ATOM on a CEX, they’ll be able to trigger a transfer from there. Once Hydro receives the deposit, it automatically deploys the funds across DeFi strategies. Users can track everything in a dashboard that shows exactly where funds are allocated and how each strategy is performing. When users want to withdraw, they simply authorize it by sending an email to a specified address. Funds can be sent back to their CEX wallet or directly to a bank account, along with the yield earned. This also works for people who don’t yet own crypto. They can use a fiat on-ramp (bank transfer or credit card) to deposit funds straight into Hydro and start earning yield immediately.
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