Ola Finance is a platform on Fuse Network that lets you create a Compound/Aave-like instance that includes whichever tokens you likes.
Currently, you can use the Fuse LeN, where you can supply/borrow $WBTC, $WETH, $USDC and $FUSE tokens.
What’s the advantage of using Ola Finance? The high APY! We can compare its APY with the top Ethereum lending protocol Aave.
$ETH / $WETH
If you supply $ETH in Aave Protocol, the APY is 0.02%, plus 0.57% $AAVE rewards. If you transfer your $ETH to Fuse as $WETH and supply it in Ola Finance, the APY is 0.87%, 43.5 times compared to Aave, plus 7.1% $FUSE rewards.
In Aave, the APY for $WBTC is 0.05%, while the $WBTC APY in Ola Finance is 0.7%, 14 times Aave’s.
So with the same amount of crypto assets, you can get better returns from Ola Finance.
Then how’s its on-chain performance? Is Ola Finance under good conditions?
Launched for 73 days, this lending network still has a long way to go, as the user, volume and transaction numbers are much smaller than the top ones. The 30d volume -34.19%, and the 30d transactions -22.64%.
You can track its on-chain data and see if Ola Finance will attract more DeFi users with its high APY.
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