Insula Investment Management have been granted access to the Enzyme Sulu-Beta on Polygon. Insula is 1 of 100 first to be able to test this new and updated version service by Enzyme Finance. Enzyme Finance have called Sulu as: “One-stop shop for savers in DeFi“. Keep reading to understand why this is the case and what Sulu has to offer in comparison to Enzyme V2.
What Does Insula Currently Use?
Currently Insula has fund available on Enzyme Finance V2. Enzyme Finance, previously named Melon Protocol, is a protocol built on Ethereum (ETH) that allows users to create, manage and invest in custom crypto asset management vehicles. Enzyme aims to decentralize traditional asset management, a field that has historically been the domain of professional financial advisors and firms.
The core tenets of Enzyme v2 were security, customizability, composability, upgradability and improved gas efficiencies. With Sulu, Enzyme aims to leverage new architecture to focus on extensibility & composability.
What Is New With Sulu?
Lending on Enzyme is not a new feature, but now with Sulu, you will be able to borrow as well. This is a wonderful feature for long-term holders who do not earn yield on their holdings. For example: Long-term ETH holders can hold their position whilst simultaneously take a loan against their ETH as collateral. In that case you can deposit ETH to finance borrowing DAI. Currently DAI earns more interest on lending protocols than ETH. Therefore, you can deposit the DAI on lending protocols and earn interest and farm liquidity tokens too. Eventually Enzyme Finance’s goal is to enable this process natively by the next release.
Vault Token Transferability:
At the moment tokenized shares in any vault are non-transferable. However, making these shares transferable would create new use-cases. Making Enzyme Vault Shares transferable would allow: Pre-seeded Vaults & Tokenised fees to incentivise early depositors. (refer to link for further details)
Curve Pool integration:
Curve pools is a large source of liquidity in DeFi and is very profitable to deposit into Curve pools and earn token for providing liquidity. This will be possible on Sulu natively!!
“Idle provides you with a range of risk-adjusted approaches to achieving the best yield on stable coins and wBTC. Their best-yield approach offers up to 44% APY on stable coins at the time of writing and their risk-adjusted yield approach gets you almost 14%. These returns are further enhanced because you can farm IDLE token for depositing into these savings pools.”
This gives you a taste of what Enzyme Sulu has to offer. However, this is not all. More features such as AAVE Integration, Balancer integration, Support for Staked ETH, Multi-protocol Yield Farming, Exploring the possibilities of Gas reimbursements for Portfolio Managers and MIP7 Implementation will all be available upon the launch of Sulu.
What Does This Mean For Investors?
As an investor in Insula Investment Management Funds, you will gain access to all these new features on one platform, all whilst functioning on Polygon network with low gas fees. Sulu truly is a one-stop and we are very excited to offer you all these new features.
This is scalability! This is growth! This one step into the future of Insula Investment Management! We Hope that you will join us on this exciting journey forwards!