Pony's new interest bearing strategy gives Ethereum users access to Beefy for the first time ever

AUSTIN, Texas - June 30, 2022 - PRLog -- In an industry first, Ethereum users can now gain exposure to Beefy Vaults through Pony Finance's PONY (Passive Omni-chain Net Yield) Index. Holders of the ERC-20 token $PONY will be able to reap rewards from a basket of fully-collateralized stablecoins across multiple blockchains. Autocompunded interest generated by Beefy stablecoin strategies is then distributed back to $PONY holders staked on XXX.

Curated by Beefy and enabled by Multichain

Scalara (a DeFi Pulse division) has created its index using Beefy's Safety Score system. The basket consists of five stablecoin Vaults across Fantom, Avalanche, and Polygon selected for their stability and robustness against impermanent loss.

Users minting $PONY can deposit USDC into the $PONY minter smart contract and the funds are bridged via Multichain. The USDC is swapped for each specific token on their respective blockchains and deposited into the Vaults. Rewards are harvested and then bridged back to Ethereum and distributed to $PONY stakers.

"For too long, Ethereum users have been unable to quickly and efficiently gain exposure to a basket of Beefy stablecoin Vaults," notes Weso, Beefy's Lead Developer and Strategic Partnership Coordinator.

$PONY offers enhanced yields with managed risk

$PONY is a transparent product that can be easily vetted by any investor due to its on-chain nature. Its basket of fully-collateralized USD stablecoins has been selected so as to carefully manage the risk of impermanent loss and de-pegging.

A $PONY investor can check the composition of their investment and any subsequent rebalancings through a blockchain explorer. Investors can typically expect Yields within the range of 7-10% (subject to change) depending on the underlying Vault strategies.

Enhanced $PONY yields made possible by Beefy Vaults

$PONY relies on Beefy Vaults to earn optimized yields whilst maintaining the highest levels of security. In a Beefy Vault, investors earn more of their staked asset by automatically compounding gains.

Any associated costs are shared by Vault investors, significantly lowering the fees and time needed in comparison to manually reinvesting. With Beefy, you can earn maximized yields on a variety of trusted platforms including Curve, Trader Joe, and QuickSwap among others

https://beefy.com/

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