Veda, a new DeFi abstraction layer, has partnered with EtherFi, a prominent liquid restaking protocol. This collaboration, announced on May 30, integrates Veda’s technology into EtherFi Liquid, enhancing automated yield generation strategies. Veda’s infrastructure simplifies complex smart contract interactions, removing technical barriers typically associated with accessing intricate DeFi strategies.
Mike Silagadze, EtherFi’s co-founder, praised Veda for enhancing the overall user experience, particularly within EtherFi Liquid. He highlighted Veda’s technology for easing users into various yield-generating methods effectively.
Sunand Raghupathi, Veda’s co-founder, sees this integration as a robust demonstration of their technology’s capabilities in facilitating the creation of accessible yield products, which would otherwise be challenging for average users to access.
Despite Veda being operational for over two months, its public announcement came through a blog post on May 15. Veda aims to democratize access to advanced DeFi strategies by tokenizing complex smart contract interactions, thus simplifying them into user-friendly products.
According to DeFi Llama, EtherFi’s Liquid vaults have amassed nearly $750 million in total value locked since their launch in March. Veda’s technology has already enabled access to yields through various leading DeFi protocols, including Aave, Morpho Blue, Pendle, and Gearbox.
May 2024, Cryptoniteuae
