Introduction

A permissionless yield marketplace based on the Polkadot ecosystem.

Overview

Zenlink Eden is a permissionless yield marketplace based on the Polkadot ecosystem. We are committed to returning control of yields to users by introducing advanced DeFi yield management solutions. This makes yield tokenization and liquidity management simple and efficient, allowing users to execute more advanced yield strategies through the platform.

Zenlink Eden is now live on the Moonbeam network. To understand Zenlink Eden, it can be divided into three main parts:

Yield Tokenization

Zenlink Eden allows users to wrap yield-bearing tokens like vDOT, vGLMR, and other yield-bearing tokens in the Polkadot ecosystem into SY (Standardized Yield Tokens). After wrapping (e.g. vDOT → SY-vDOT), the underlying yield-bearing tokens will be compatible with Zenlink AMM. These SY tokens can be split into PT (Principal Tokens) and YT (yield tokens).

This process is known as yield tokenization, where the principal and yield are separated into two separate tokens.

Zenlink AMM

Zenlink is the first cross-chain DEX protocol on Polkadot, it has been live on multiple parachains including Bifrost Polkadot, Bifrost Kusama, Moonbeam, Moonriver, Astar, Pendulum, Amplitude, and has been adopted by multiple projects like Manta Network and Interlay for building their frontend interfaces based on Zenlink DEX. Additionally, Zenlink Mega Aggregator is also live on several major Layer2, including Base, Arbitrum, and Scroll.

Zenlink Eden is a new product launched on Moonbeam Network, powered by Zenlink. Users will be able to trade PT and YT on Zenlink Eden, offering flexible yield management and trading strategies, including fixed income, long positions on yield, and liquidity provision yields. In Zenlink Eden, users will use a new Zenlink AMM, which employs curves and algorithms different from the traditional Uniswap V2.

Although Zenlink AMM is different from the previous Zenlink DEX and Zenlink Mega Aggregator, they will work in tandem. When users trade PT and YT using other supported assets, the Zenlink Mega Aggregator routing may be involved to help users seamlessly trade PT and YT with any supported assets.

veZLK Mechanism

Zenlink Eden will introduce the veZLK mechanism, allowing users to gain voting power and governance rights by locking ZLK tokens, and increasing yield rewards while executing advanced yield strategies.

Key Features

• Permissionless: Zenlink Eden is a permissionless protocol, ensuring that anyone can access and use it, or build upon it.

• Diversified Strategies: Zenlink Eden offers diversified strategies, allowing users to choose suitable yield strategies based on market conditions and risk preferences.

• User-Friendly: Zenlink Eden aims to create a user-friendly platform, enabling users to easily engage in yield trading even without understanding AMM mechanisms.

Advanced Yield Strategies

This section briefly introduces the advanced yield strategies that users can execute through Zenlink Eden.

• Fixed Yield: By purchasing and holding PT, users can lock in fixed yield (this income comes from the underlying yield of yield-bearing assets, e.g. earn fixed yield on vDOT, which from staking DOT), reducing the risk of yield fluctuations.

• Long Yield: By purchasing YT (indicating your expectation that the yield of a certain token will rise in the future), users can earn higher returns when yields increase.

• LP Yield: By providing liquidity to Zenlink Eden, users can earn trading fees and liquidity rewards, increasing overall returns (e.g. provide liquidity with vDOT).

Through these features, Zenlink Eden enables users to maximize the potential of yield management within the Polkadot ecosystem. For more details on how to execute the above strategies, please refer to our user guide.