Cian wstETH
Description
Cian is a protocol developing vaults and automated lending strategies. The protocol offers ETH yield-bearing vaults across four different blockchains, as well as automated looping strategies for ETH, MATIC and AVAX.
The strategy recursively borrows ETH on AAVE and converts it to wstETH in order to amplify Ethereum staking yields.
Risk Level — 'A'
Narrative
The strategy earns amplified ETH staking yield and can be attributed to the real yield narrative.
Why invest?
Cian wstETH vault benefits from elevated on-chain activity and can serve as a sustainable way to earn yield on ETH holdings in exchange for additional lending risk.
What’s inside?
User funds are converted into wstETH and deposited on AAVE as collateral. The vault then borrows ETH, converts it into wstETH and deposits back on AAVE. As a result, users can enjoy above-market returns on ETH.
Safety Scoring
| Simplicity - 2/5 | Longevity - 5/5 | Protocol safety - 5/5 | Overall score - 3.66/5 |
|---|---|---|---|
Uses leverage or debt, and is not easy to unwind | Strategy has been running for more than 8 months with no critical issues and no changes in code base | Utilized protocol has been audited by Peckshield, Omniscia and Paladin Blockchain Security, and had no exploits or hacks in the past. | Medium risk |
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