Today we are thrilled to have Gangsi, Co-Founder of Eternal Finance, a leveraged yield farming platform. Together, we will discuss the team’s background, how they came up with the idea of Eternal Finance, the reasons why they chose to build on Aptos, and much more. So, let’s dive right in!
[SurferInvestor] Could you please summarise briefly what Eternal Finance is about?
[Gangsi] Eternal Finance is the place to be if you want to boost your yield farming profits. Our leveraged yield farming platform is designed to allow both lenders and farmers (we call them vampires and sorcerers in Eternal) to join the yield farming party. If you’re a bit risk-averse, you can simply deposit your single tokens into our lending pools and earn some yields. But, if you’re ready to take on a bit more risk, you can borrow tokens from us and start yield farming on PancakeSwap with some extra syrup. And don’t worry, we’ve got your back. In the near future, we’re going to be unveiling some market-neutral strategies and giving you access to historical data to help you minimize any risks involved. Whether you’re a seasoned yield farmer or just getting your feet wet, Eternal Finance is a must-visit if you want to earn higher yields on your investments.
[SurferInvestor] Could you please introduce yourself as a founder? What is your background? What makes you the right team for the project?
[Gangsi] My character is Gangsi, a Korean Vampire in Eternal, I am one of the co-founders. I bring a unique blend of product management experience and yield farming expertise to the table. With many years in product management, I understand the importance of creating user-centered solutions that solve real-world problems. As an experienced yield farmer, I’ve faced the challenges of manual monitoring and seeking out real yields. This combination of experience has allowed me to design better products for yield farmers. My goal with Eternal Finance is to use my knowledge and expertise to create a platform that streamlines the yield farming process, making it easier for users to achieve their investment goals. With a deep understanding of the yield farming space, a commitment to user-centric design, and a proven track record of delivering successful projects, Eternal Finance will be the go-to platform for yield farmers looking to maximize their returns.
[SurferInvestor] How did you come up with the idea of Eternal Finance?
[Gangsi] When we started brainstorming the idea of Eternal Finance, Aptos lacked a leveraged yield farming platform, but PancakeSwap offered attractive yields. As experienced yield farmers, we saw an opportunity to maximize these returns through leverage, but the existing protocols on the market only allowed for borrowing one token per position and lacked sophisticated strategies. This led us to the decision to bring our expertise to the Aptos chain and create a user-centric leveraged yield farming platform that allows for more advanced strategies and a better yield farming experience.
[SurferInvestor] Does the team have any preexisting relationship with the BNB chain?
[Gangsi] We are a web3 studio that helps with the development of a few other protocols before. So we have had the opportunity to engage with the BNB Chain in the past and understand its potential.
[SurferInvestor] What motivated you to build on Aptos?
[Gangsi] With the advent of the Aptos chain, we saw a unique opportunity to bring our expertise to a new and thriving ecosystem. Our goal with Eternal Finance is to make Aptos a destination for DeFi, by providing yield farmers with a seamless and user-friendly platform to maximize their returns. With our background in product management and yield farming, we believe we have the right skill set to make Eternal Finance a success and help drive the growth of the Aptos chain.
[SurferInvestor] What quality, within the CAKE token attracted you so much to build around it?
[Gangsi] PancakeSwap is holding the largest TVL on Aptos, it is only natural for us to build around it. Plus, Cake has good liquidity itself. Some DEXes offer good yield APR and the yield token itself didn’t have good liquidity. But PancakeSwap has both, therefore, it is our first go-to choice.
[SurferInvestor] What item in the roadmap gets you the most excited?
[Gangsi] Cross-chain auto-manage farming is the feature that gets me excited the most. To make this work, we need to bring together automation, cross-chain messaging, and top-notch security measures. Once it is done, you can just deposit your token in BNB chain but earn Aptos yield. The yield can even be bridged back to Aptos.
[SurferInvestor] Why should a user use let’s say an auto-compounder on the BNB chain such as Beefy or even Pancakeswap auto-compound vault to decide to bridge and to yield farm his cakes on Eternal Finance?
[Gangsi] Leveraged yield farming is different from the auto-compounder. Because we are not only providing an auto-compounding bot and also providing leverage to earn more yield.
[SurferInvestor] You refer to tokenomics in the Gitbook, could you tell us more about the use case of the token?
[Gangsi] We plan to implement veToken for Eter Token. Basically, users can stake Eter to mint veEter tokens. The share percentage of veEter decides the percentage of yield you can gain from the reserved mining rewards. veEter will also unlock exclusive features in the future.
[SurferInvestor] Will there be an airdrop for early users?
[Gangsi] That’s certainly on our plan. But it is too early to announce for now. 👀 Our community program will be launched later this month, and here is an exclusive sneak peak for your readers.
[SurferInvestor] You talk about cross-chain, do you know what is the next chain you will deploy on?
[Gangsi] We are keeping our eyes open. Sui would be one of the feasible choices.
[SurferInvestor] How many people are on the team?
[Gangsi] We have around 10 members on the team
[SurferInvestor] In an ideal world, how would Eternal Finance look in 5 years?
[Gangsi] We would like to develop it as a cross-chain, automated yield management facility. You can find all strategies in our protocol and manage the risk here.
[SurferInvestor] For people who wanna jump in, how to get started?
[Gangsi] Just start with a lending pool and even choose a stablecoin pair to farm. The risk is low but the yield is quite attractive. You can earn around 10-20% without taking too much price risk. For people who want to follow us on socials, please see below:
We hope that you enjoyed this short interview together with Gangsi, co-founder of Eternal Finance. Eternal Finance is a leveraged yield-farming platform designed to allow both lenders and farmers to join the yield-farming party. We’d like to thank Gangsi and the Eternal Finance team for taking the time to share their insights and we wish them all the best in innovating in the Aptos ecosystem.
Do you want to continue learning about DeFi?
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>> Learn about Privacy Finance (PriFi) with Offramp.xyz or ARX