Ebisu Money is live on public testnet - the first time users can explore using Ebisu Money to borrow dollars against restaked collateral!
Your insights will directly influence the features and functionality of Ebisu Money, helping us deliver the best possible user experience in Q4 2024. By participating in this testnet, you play a key role in shaping the future of the Ebisu Money protocol.
Ebisu Testnet x Omni Omega
This deployment of Ebisu Money testnet leverages the Omni Omega testnet to pioneer a chain abstracted DeFi user experience. Cross-chain CDP stablecoins have historically been susceptible to bad debt and subsequent de-pegs caused by bridge exploits and failures. We are experimenting using Omni to improve capital efficiency and reduce liquidity fragmentation by allowing the Ebisu protocol to accept collateral that resides on any L2 without the need for bridging. This lets users open, close, and adjust their Trove from whatever chain their assets are on, powered by Omni’s XMsg feature, which enables behind-the-scenes cross-rollup functionality.
We’re proud to be a dApp participating in Omni’s Mochi Party Campaign. Be sure to keep an eye out for more protocols launching on the Omega testnet in the coming weeks!
Ebisu Money Testnet Campaign🎣
Early support and feedback is super valuable to us, so we will be tracking participation in the Ebisu Money Testnet Campaign via Galxe to acknowledge and appreciate the contributions of our community members in the future.How to get started using Ebisu Money testnet:
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Visit omni.ebisu.finance to access the Ebisu Money dApp.
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Visit our user guide to learn how to open a Trove, deposit ebETH collateral, and mint ebUSD.
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Complete quests on the Ebisu Galxe board.
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Discuss your experience and share feedback in our Discord or via this feedback from.
What’s Next?
To ensure liquidity and utility for Ebisu Money upon launch in Q4, we’re coordinating with LRTs, restaking platforms, risk managers, DeFi integrations, and liquidity providers. Stay tuned for our upcoming announcement of our mainnet launch partners in the coming months!
In the meantime, we’ll soon share more about Ebisu’s second product: Earn. Ebisu Earn automates real yield generation across a basket of LRT DeFi strategies providing diverse exposure to various LRTs and restaking protocols. Be sure to follow us on socials for everything restaking, EigenFi, LRTs, and AVS risk!
Links
Twitter/X Discord Telegram Updates Documentation Website Mirror
About Ebisu: Ebisu Money allows users to borrow dollars or ETH against liquid restaking tokens (LRTs) via decentralized stablecoins. ebUSD and ebETH are Ebisu’s overcollateralized stablecoins that give users liquidity on their restaked assets, while enabling yield generation through AVS and ETH staking rewards. Borrowing against LRTs lets users stay exposed to ETH, use restaking rewards to pay interest/repay debt, and lever up exposure to restaking yield.
About Omni: Omni is the platform for building chain abstracted applications. Omni connects applications to all rollups with a single deployment, allowing developers to access all users and liquidity across the Ethereum ecosystem. Omni’s mission is to empower the next generation of decentralized applications with cutting-edge technology and unparalleled support.