EnreachDAO Adopt ERC-4626 With Launch of Smart Contract Protocol Yaggr
Published By Pressat [English], Mon, Jul 18, 2022 12:00 PM
On June 28 2022 EnreachDAO released the Yaggr protocol showcasing standardized vault strategies using composite ERC-4626 tokens for deposits of the NRCH utility token.
Twenty days later depositors have staked 34% of the NRCH tokens circulating supply; a Total Value Locked (TVL) in excess of $2.8m represents over a third of NRCH market capitalization at $8.2m in a $44B DeFi industry.
EnreachDAO interconnects real world assets to Ethereum Virtual Machine (EVM) compatible blockchain networks via composition of its smart contract products; Yaggr, KYCNFT and nReserve.
“Think of Yaggr, KYCNFT, nReserve as lego blocks; depending on the use case, combinations of those lego blocks are composed to deliver the desired user experience through some form of interface.” commented DeFiKash, co-founder of EnreachDAO.
ERC-4626 is “Ethereums Request for Comments” for yield bearing tokens representing a depositors share in industry standardized vaults.
Standardization of the interaction with vault smart contracts and integration of yield bearing tokens decreases the potential for smart contract risk i.e. exploits and increases time to market for smart contract development.
“We are working on 7 different exciting real world use cases that involve the composition of our products.”
“The ERC-4626 standard exposes EnreachDAOs products to a scale of opportunities with other projects and their users.”
“We have already been working with other projects and their developers who are adopting ERC-4626 and embedding our products into their solutions.” explained DeFiKash.
“Anything we build with ERC-4626 works with anything built for ERC-4626.”
EnreachDAOs products enable holders of specific assets and market makers to raise and deploy liquidity whilst managing or hedging risk. EnreachDAO are developing smart contracts that bring real world assets and transactions onto the blockchain utilizing fungible and non-fungible technologies.
“The NRCH token is like a key that enables interaction with our smart contracts or dApps. As interactions increase with our smart contracts, the more organic demand it translates to our NRCH token.” said DeFiKash.
About EnreachDAO and the NRCH Token:
Press release distributed by Media Pigeon on behalf of Pressat, on Jul 18, 2022. For more information subscribe and follow