Lydia Finance
The Best DeFi project on Avalanche 🦁!
Published on February 4, 2022
Can you tell us about your company/project?
Broly (Community Manager) -
Sure, we have 3 projects currently in the Lydia Ecosystem, Lydia finance, Maximus, and our upcoming NFT project AVAX Lions. Lydia Finance is a DEX/AMM with farms and staking pools, a Lottery platform, launchpad, and we also have a BSC and Polygon bridge for our users.
Can you tell us about the team behind this?
Broly (Community Manager) -
Yea we are a team of 12 in total. We have been around in the crypto space for a long time. The team is very dedicated to bringing the best products to the Avalanche ecosystem.
Could you tell us the idea/inspiration behind the birth of your project?
Broly (Community Manager) -
Sure Lydia finance gets its name from an ancient civilization that might have been the first civilization to make coins to be used as money. They used something called Electrum which was a combination of Silver and Gold that they got from the river to create these coins.
What is it that your project is trying to simplify/solve in this space & how??
Broly (Community Manager) -
We are basically trying to be a one stop shop for all things DeFi on Avalanche. On top of that we are building our own ecosystem with Lydia and our other projects
What has been the biggest challenge for you so far & how have you overcome it?
Broly (Community Manager) -
Running a DeFi business is a challenge itself. Processing all feedback you receive from thousands of users, making right development at the right time without any issues… The only way to overcome is to work in order, keep building regardless market situations. The reward in return is all worth it. Being a part of the financial decentralization vision and shaping your product with great community is not a thing you can find in conventional business world.
How do you manage to provide such high APY's?
Broly (Community Manager) -
APYs can vary a bit depending on many factors but right now Lydia Finance does not have a huge amount of TVL like some other platforms so our APYs can remain pretty high for the time being. Should a bunch of people jump in then they would go down some.
Can you tell us about your project Maximus & your NFT project Avax Lions?
Broly (Community Manager) -
Yea for sure! Maximus is a Yield Farm Optimizer that can auto compound your LPs from JOE, Pangolin and Lydia. We also have auto compounders for staking pools as well. We will also be integrating the possibility to optimize you yield from lending platforms in the future as well from platforms like BenQi and Aave. AVAX Lions is our newest addition to the Lydia Ecosystem. These will have many use cases on the Lydia Finance platform. They will be used as profiles on Lydia and they will have some gamification on our platform as well. They provide double rewards in LYD and AVAX to holders of the NFTs. We have our own NFT marketplace for them as well for users to trade on. Then in the future we are looking into buying some land on some Metaverses to make some cool things for our AVAX Lion holders.
What has been the biggest milestone you have achieved so far?
Broly (Community Manager) -
Biggest milestone for us was the launch of the platform. Introducing the project and our vision to the community. And receiving very constructive and positive feedback that made us feel like we were on the right track and provided the motivation to keep working hard and build.
What's the immediate goal plan for the next 6 months of your project & how do you plan on getting there?
Broly (Community Manager) -
We actually just released our new roadmap! So for right now we are working on some UI upgrades and a new analytics page for our users. After that we are going to add a ZAP feature to Lydia to make things easier for people when creating LPs. After finishing these we will add some more gamification features to our platform with the use of AVAX Lions. There will be profiles, leader boards for different things and more!
Where do you see the project in the next 5 years?
Broly (Community Manager) -
Being one of the early projects of Avalanche we have focused on bringing lucrative defi tools to Lydia Finance users since the beginning.In this direction we managed to build a sustainable and reliable ecosystem and our aim is to maintain it long term. No one can know what will happen in 5 years but we are here to stay, we are here to keep building, grow with the Avalanche ecosystem and be one of the top DeFi platforms on it.