LSD is a DeFi project that aims to create an easy to use, beginner friendly circuit for gaining profits (by liquid staking derivatives and leverage staking derivatives) by just investing Matic 💜 Currently Cian, a beta version automation protocol provides a similar flow of investing, what differentiates this project from what Cian has to offer is that in LSD users can start investing even if they do not have a lot of funds where as on Cian to get started, a smart contract based wallet (Cian multi chain account) needs to be created by spending eth which comes to be around 5000+ Rs and many other complications.
Create an ERC 4626 Contract: LSD
Users can invest matic and receive lsd tokens as their share on investing in the vault. Over time the lsd token will gain value by the yield generated through liquid staking derivative and leverage staking derivate. Users can redeem or even transfer this token. More details provided in implementation section.
Create a Frontend
Users can view all the stats related to LSD and their investments in LSD on the dashboard. They can also invest in LSD or redeem their investments through the frontend.
New users in DeFi space do not have much experience on various investment strategies that are executed over various different DeFi protocols as well as even if the user learns about a new strategy it becomes difficult for them to keep track of all the numbers, on all different DeFi protocol’s websites. So the problems that this project solves by implemented one of the known DeFi strategies based on liquid and leverage staking are:
The LSD smart contract will be an ERC 4626 based contract where, users invest matic and get lsd tokens back as share which they can later on redeem. The contract will internally invest the matic to generate yield from liquid and leverage staking.