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FEB 28, 2024

New Solana Defi Protocol: Adrastea

by solfistooshort

Adrastea has created a product that allows JLP holders to leverage their LP tokens for a higher APY. Here's everything you need to know about $ADRA and how to position yourself for their upcoming airdrop.

How does Jupiter JLP work?

You provide liquidity in the index pool for traders to use and in return, you get the LP token = JLP
JLP price goes up as more fees are accrued into the pool.
As a JLP holder, you receive 70% of the fees generated by the trading exchange
 @AdrasteaFinance has created a product that allows JLP holders to leverage their LP tokens for a higher APY  

How does Adrastea work?

Adrastea team is developing two automatic complex yield strategies, while also making them accessible to everyone:
1. adrJLP
2. adrUSDC
✦ JLP Vault
Deposit JLP, get adrJLP, and earn a leveraged yield on your JLP.
Or
✦ USDC Vault
Deposit USDC, get adrUSDC, and earn a steady APY by lending your USDC to JLP leveraged pools.

How do vaults work?

✦ When you deposit your $JLP the JLP vault borrows USDC from the USDC vault (lenders) buys more JLP, and leverages your yield to earn up to 300% APY.
✦ When you deposit USDC, the USDC vault lends your USDC and you can earn 30-80% APY  

Are there any risks?

Yes, however, @AdrasteaFinance came up with a solution:
✦ During high volatility, liquidity will be adjusted to maintain stability
✦ The yield curve is specifically built to ensure USDC borrowing yield never goes above the JLP yield.  
Adrastea integration Beta is coming next month and the $ADRA token is rumored to drop in April.
I suggest:
✦ Try to get the WL role in their Discord.
✦ Deposit in their vaults as soon as possible.
Token Utility:
✦ Governance token
✦ Revenue share
✦ Incentives for LPs.
Last but not least:
✦ The Adrastea team is renowned in the ecosystem as they have previously built:
@pawnshopgnomies
(The first NFT lending protocol on Solana was acquired by @banx_gg)
✦ They've raised $230k from top-tier Solana NFT DAOs and private angels
Thank you so much for reading!
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