Meet Clip Finance: a Decentralized, Transparent Money Management Solution
Clip Fianance joins Chainlink BUILD
If you've spent some time in DeFi, you have probably tried to earn a yield on your on-chain assets. You've probably realised that it's pretty complicated, time-consuming, and costly due to gas fees. And, to make things worse, it may not be profitable at all because there are hidden fees and yields are constantly changing.
What Web3 is missing is a convenient and safe money management tool that's decentralised and transparent. Chainlink BUILD's newest member, Clip Finance, is bringing exactly this value proposition to the market.
What’s the Problem?
Nobody wants to have idle assets, especially when these assets could be earning double-digit yields. Yield farming requires vigilance - understanding which smart contracts the assets are deployed in to ensure they’re not malicious and have undergone audits. It also demands constant monitoring of APY, and the security status of the assets to name just a few demands for your skills and time.
What is Clip Finance?
Clip Finance is building a suite of easy-to-use DeFi yield products. With Clip, you can create a yield portfolio with a single click. All you need to do is to decide which stablecoin and how much you want to deposit. As of right now the APY hovers around 9-10%.
Clip Finance’s Widget
Clip has built a unique Strategy Router, which will then send your funds to a basket of risk-analysed yield strategies, and always in battle-tested protocols, to keep your assets safe.
Clip Finance’s Funds Allocation Widget
One of the core pillars of Clip is transparency. You can see at all times where your funds are allocated to, and what weight each strategy has. In addition, you will be able to read the risk analysis results of each strategy, and how the yield is earned. This will enable users to do informed decisions whether they want to deploy their assets with Clip or not.
To secure the maximum possible yield, Clip Finance actively rebalances its strategy. This means that if one farm outperforms another, the allocations may be adjusted to maintain an optimal strategy. This process is entirely automated, providing users with a hassle-free experience.
To further optimise for gas costs, Clip Finance batches all funds from various users from the past hour, using Chainlink Automation to direct these funds to the most optimised strategy. Gas savings often exceed 50% compared to manual deployment, not to mention the multiple hours that it would otherwise take to bridge and deposit into a number of different protocols manually. Time is money too :)
In the fast-paced world of crypto, flexibility is key. Unlike platforms with fixed locking periods, Clip Finance allows you to withdraw at any time without incurring a penalty. This ensures that users maintain control of their assets.
How is Chainlink used?
Clip Finance uses various Chainlink services:
Price feeds to monitor and get the prices of the different assets.
Automation to allocate the user’s funds into the strategies.
CCIP to facilitate cross-chain yield strategies.
Additionally, Clip joined the BUILD program on the 1st of August 2023 to gain enhanced access to Chainlink's industry-leading oracle services and technical support, which helps support its cross-chain yield optimizer protocol.
Meet the team at Clip Finance
Clip Finance’s team is not anon, and was founded by three experienced yield farmers who spotted the opportunity to simplify yield farming and boost its profitability. Their experience and dedicated team position them well to deliver a stellar product, for yield farmers, experienced and newcomers alike.
Clip Finance’s Team
Conclusion
In conclusion, Clip Finance has set out to redefine yield farming in the Web3 world. The protocol simplifies the complexities and mitigates the risks of yield farming through an optimised, transparent, and automated approach. Users can enjoy not only peace of mind but also potentially attractive yields on their on-chain assets. Chainlink's services play an integral role in Clip Finance's operation, enhancing price monitoring, funds allocation, and facilitating cross-chain yield strategies.
