**Announcing Overnight's First ETS on Optimism: Garnet**.
01 Oct 2022, 13:19
**Announcing Overnight's First ETS on Optimism: Garnet**
It is with great pleasure that in lieu of USD+'s success on Optimism, we're announcing our very first ETS on the chain. Featuring: Garnet (OP/USDC via Velodrome)
The ETS is an inherent game-changer when it comes to Yield-Farming and mitigates the risk of Yield-Farming (i.e, the prices of underlying assets plunging). It does this through borrowing volatile assets (OP in this case on Granary) and therefore allows you to reap the benefits of high APR farms without the risk set out forth.
Check out the ETS at
Read more about it:
*Note: The ETS borrows OP via Granary which has low liquidity on its lending pool. Hence, in some instances, the APY for borrowing may decrease APRs radically.*
**Changes made with all other ETS**
The TVL Caps for all non-USD+ ETS have been removed namely:
-busd/bnb
-usdc/wmatic
The cap for all other ETS stays as is for now.
Enjoy the magic of Overnight on Optimism.