The ETH Max Yield Index (ETHMAXY) is built on Set Protocol's battle-tested infrastructure (which supports the largest DeFi indices today) and utilises Lido for liquid staked Ethereum (stETH) and Aave to recursively leverage stETH and therefore its intrinsic yield properties.
ETHMAXY provides: 1x ETH exposure, 3x+ leveraged stETH yield exposure all represented as a single ERC20 token. It can be bought or sold via our flash issuance contract on app.galleon.community, minted with aSTETH (output ETHMAXY) and redeemed with ETHMAXY & WETH (output aSTETH) using Set Protocol.
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<aside> 🤖 Automated: Yield is auto-compounding.
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<aside> 📊 Yield Returns: Highest staked, full composable ETH yield strategy token in the DeFi ecosystem.
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<aside> ♻️ Composability: The product remains as a fully composable token that can be utilised in DeFi.
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<aside> 🔑 Ease of Access: Very low barrier to entry (a simple Uniswap trade).
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Leverage tokens work by utilizing on-chain lending protocols, in ETHMAXYs case, Aave, by automatically adding/removing collateral to maintain a leverage position.
ETHMAXY aims to stay at a leverage ratio between 3 - 3.25x. This flexible rebalancing nature minimizes the number of rebalances, and thereby gas costs, to maintain a leveraged position.