Interview With The Founder Of ADD.xyz And Its DeFi Lending Via +Earn

The following post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga.

DeFi has opened up a plethora of different financial investment options. Hundreds of online platforms offer different services, ranging from swaps, lending, liquidity providers, and much more, allowing the public to generate profits from their crypto assets.

ADD.xyz is tapping into DeFi not just as another platform but catering to one of the largest issues being faced by users worldwide. With so many platforms running on different blockchains, it can be difficult and time-intensive to find the best DeFi farming options. ADD.xyz is a yield aggregator that allows its users to use it as a single point to invest in the top-performing DeFi platforms and protocols. While many prominent positions claim cryptocurrencies have no value, ADD is proving the opposite by allowing people to generate wealth.

With the launch of its updated lending aggregation product +Earn (previously known as Lend and Earn), we sat down with Arnie Hill, the ADD Founder, and asked him about the unique DeFi platform.

In a nutshell, what differentiates +Earn from other yield aggregators?

ADD’s +Earn lending platform is the only platform that allows users to seamlessly encrypt their ERC-20 transactions with ZK-snarks, interact with aggregated governance, and much more. We’re different from other yield aggregators because of the value we place on being privacy-focused and accessible to all with zero fees.

Adding to this, the power of all DeFi Lending Protocols are aggregated on a single platform which is multiplying the potential value a user can generate from their wallets. Imagine your single wallet having access to 5 lending protocols in one place, and you can choose with a click where you want to lend your crypto to get the best returns. +Earn is Maximum Returns with Maximum Privacy.

What crypto coins and tokens are supported by +Earn?

We currently support a mix of stablecoins and altcoins, including DAI, USDT, USDC, BUSD, MKR, ETH, and CRV.

What security audits have your lending aggregator been tested against?

We currently have audits from PeckShield on our lending aggregator. PeckShield is a leading auditing company with a special focus on Decentralised Finance Contracts. Since the release of our very first version of +Earn, they have been with us, which was then called ‘Lend and Earn.

Can you dabble a bit more on the privacy features of your platform?

ADD’s very own Blender is a form of ERC-20 privacy mixer. Users deposit ETH, DAI, or other enabled cryptocurrencies into the mixer contract and receive a unique secret key. Users can withdraw their deposited funds into a brand new address with no history of where those tokens came from with this key.

This is the ultimate privacy tool for users who wish to make sure their funds are safe and that external individuals cannot see their net wealth. On top of this, for the cherry on the cake, we plan to operate TOR on the privacy platform with our own exit node hosted off-shore, adding a coat of privacy to DeFi.

ADD.xyz is a multi-chain platform. Can you elaborate on the current chains being supported and others that are coming up in the future?

We are currently looking at BSC or Polygon for scaling benefits; this is not a priority because the competition of chains outside of ERC is still in its infancy stage. We’d like to see how the developer teams behind other blockchains plan to build out their roadmaps over the next few years, which would help us identify which chains are serious about adoption and which are great short-term for economic benefits for the industry.

Of course, we are also preparing for ETH 2.0, which would at the earliest be launched in early 2022 or, worst case, late 2022. The benefits that Ethereum will see from these upgrades will be incredible and could negate beneficial relief of scaling, confirmation times & gas costs that other blockchains have provided in the short term. This is why it’s important to see what competitors outside of Ethereum will bring to the table after ETH 2.0

Tell us of the journey from a simple DeFi yield aggregator to what you call a “Full Stack DeFi”.

At ADD, it made sense for us to build a unique DeFi platform featuring multiple dApps as our lending platform was the anchor in which we were able to bring users to our platform and then offer other functionalities unseen anywhere else, this includes our unique zero-fee privacy mixer where users can encrypt and shield their transaction history, our aggregated governance product whereby users can vote on governance proposals for other DeFi companies all within our platform with a few clicks, and our widely anticipated mobile app which will aggregate all of our web platform products and features into a single app. With this vision at hand, calling ADD’s platform a “Full Stack Defi aggregator” means that we will constantly evolve to include new DeFi functionalities and products, whether other developers or we build them in the space. The beauty of interoperability and layers is that DeFi is beneficial for all.

There are some interesting dApps already live on ADD.xyz, such as the Africa Mobile Lending. How do mobile credits fit in the DeFi environment?

Africa DeFi mobile lending is something that has never been done before. We plan to allow citizens in African countries to send ADD their mobile money credits. We use this as collateral and assign these users DeFi APY, which we have already pre-deposited. It’s a revolutionary new way of simplifying and revolutionizing DeFi so that tens of millions more can start to interact with Decentralised Finance. By making DeFi more accessible so that it’s not only used by the techno-financier elite, we will start to see more products like DeFi mobile money venture out into the world outside of Crypto.

Any upcoming products that we should be excited about?

We are finalizing our Africa DeFi Mobile Money disbursement process, after which we will announce a further roadmap for the soft launch within specific countries on the continent. Furthermore, our mobile application is a few months away from being finished.

What are your long term plans and where do you see ADD.xyz in the next 5 years?

Our long-term plans are to build DeFi out into spaces where other companies have no presence; this includes continents outside of Europe where trading volumes for Bitcoin already rival the US & China. There are real political, economic, and social push and pull factors to use DeFi and Crypto in such a more meaningful way outside of price speculation and monetary gain.

These strong use cases will be the determinant factor in DeFi and blockchain growing beyond its current use, as explained before. ADD plans to be at the center of these transactions. Allowing millions to use our web platform or mobile app, interacting with the biggest, most exciting DeFi protocols and functionalities all in a single place. With the advent of ETH 2.0, our smart wallet will allow users to move tokens and assets across all products seamlessly.

Image by Christo Anestev from Pixabay

The preceding post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga. Although the piece is not and should not be construed as editorial content, the sponsored content team works to ensure that any and all information contained within is true and accurate to the best of their knowledge and research. This content is for informational purposes only and not intended to be investing advice.