🤿 | What is Galahad Finance?

Galahad Finance is the DeFi protocol that allows users to borrow against their ETH while earning yield from the LSD protocol on Layer 1 - Ethereum, a decentralized, open-source blockchain platform for DApps Development. This innovative approach provides users with unprecedented flexibility and efficiency, making it easier than ever to access liquidity without selling assets.

With a loan paid in Galahad Finance's native stablecoin, $gfUSD, Galahad Finance offers a zero yield rate and loan fee with a minimum collateral of 150%, making it a more accessible option for those who may not have access to traditional financial services.

Galahad Finance is trustless. The platform uses zero-knowledge proofs, allowing users to prove their transactions' validity without revealing any sensitive information. This ensures that users can access liquidity without having to sacrifice their privacy or security, which is a major concern for many in the DeFi community.

Galahad Finance is a decentralized finance (DeFi) platform that is built on the concept of Liquid Staking Derivatives (LSD). The platform initially focuses on leveraging staked assets from Lido Finance, specifically ETH proof-of-stake and stETH, as its primary components. Galahad Finance allows users to borrow against their deposited ETH and stETH, which in turn facilitates the minting of $gfUSD, the stablecoin native to Galahad Finance.

LSD Protocol and Staked Assets

Galahad Finance utilizes the Liquid Staking Derivatives (LSD) protocol, which is designed to unlock the value of staked assets. Initially, Galahad Finance integrated with Lido Finance, a staking service for ETH, to leverage ETH proof-of-stake and stETH. Staked assets represent assets that have been locked up in a staking mechanism to support the underlying blockchain's consensus mechanism.

Primary Components: ETH and stETH

As the primary components of Galahad Finance's LSD implementation, ETH and stETH play key roles in the platform's functionality. Users can deposit their ETH and stETH into Galahad Finance, allowing them to utilize these assets as collateral for borrowing purposes.

Borrowing and $gfUSD Stablecoin

Galahad Finance enables users to borrow against their deposited ETH and stETH holdings. By using these staked assets as collateral, users can borrow $gfUSD, which is the stablecoin native to the Galahad Finance ecosystem. The borrowing process involves minting $gfUSD tokens based on the value of the collateralized assets.

Stability and Utility of $gfUSD

$gfUSD serves as a stablecoin within the Galahad Finance ecosystem, designed to maintain a stable value. $gfUSD provides users with a reliable and predictable unit of value within the Galahad Finance platform.

Future Support for Additional LSD Assets

While Galahad Finance initially focuses on ETH and stETH, the platform has plans to expand its support for additional LSD assets in the future. This expansion may involve integrating with other staking protocols or supporting different staked assets, broadening the range of options available for users to collateralize and borrow against.

By leveraging the LSD protocol and utilizing ETH and stETH, Galahad Finance legitimizes users to unlock the value of their staked assets and access borrowing opportunities. This borrowing activity results in the minting of $gfUSD stablecoins, providing users with a stable and utility-driven digital asset within the Galahad Finance ecosystem.