Ethygen

Ethygen is a permissionless, gasless DeFi platform that integrates unified cross-chain collateral management, yield-bearing staking, and perpetual trading into a seamless user experience. Its goal is to allow users to leverage their assets across multiple EVM-compatible blockchains without worrying about complex bridging, high gas fees, or repeated transaction approvals. Core Features & Flow:

1. Unified Collateral: Users deposit assets from multiple EVM chains. Avail Nexus aggregates these balances and automatically bridges them to USDC, providing a single, unified collateral pool.

2. Yield-Bearing Vault: Deposited USDC is converted into USDe, a yield-bearing token. A portion of USDe is staked in DeFi protocols to generate yield, while a buffer remains in the vault to secure trading positions. This ensures that even while users are trading, their collateral can continue earning passive yield.

3. Margin Token for Perpetual Trading: Users can mint yUSDe, a margin token, at a 0.8:1 ratio backed by the vault. This allows them to trade perpetual positions while the vault retains a 20% buffer to absorb losses and maintain yield generation.

4. Perpetual Trading Engine: Pyth Oracle provides real-time price feeds, enabling accurate mark-to-market calculations for trading. Envío indexes all trading events, deposits, and withdrawals, offering transparency and clean analytics for users and front-end dashboards.

5. Gasless & Signatureless UX: Privy Smart Wallets abstract away gas fees and manual signatures. Users can deposit, stake, mint, and trade seamlessly, providing a smooth, Web3-native experience without onboarding friction.

6. Risk Management & Safety:

• Vault balance is always ≥ minted yUSDe to prevent under-collateralization.
• Only buffered or idle USDe is staked for yield, reducing the risk of liquidations affecting earnings.

Ethygen combines the best of DeFi primitives , permissionless access, gasless UX, cross-chain collateral aggregation, yield generation, and perpetual trading — into a single, user-friendly platform. It empowers traders and investors to earn yield while actively trading, without sacrificing security or usability.

Ethygen is built using modern DeFi primitives and partner technologies to provide a seamless, gasless, permissionless platform for trading and yield.

Core Stack & Implementation

1. Smart Contracts:

• Vault manages USDC → USDe conversion, staking buffer, and margin token (yUSDe) minting at 0.8:1 ratio.
• Perp DEX contracts handle trades using yUSDe and reference real-time prices.

1. Frontend

• Built with React + Tailwind for a smooth, real-time dashboard.
• Displays unified balances, staked yield, and perpetual trading PnL.

1. Partner Technologies & Their Benefits

• Avail Nexus: Aggregates user balances across multiple EVM chains and simulates unified USDC collateral.
• Pyth Network: Provides real-time price feeds for accurate mark-to-market calculations and risk management.
• Envío: Indexes deposits, trades, and redemptions to power frontend dashboards and analytics efficiently.

1. Notable / Hacky Implementations

• Hybrid system allows users to earn yield on idle collateral while using margin for trading, a setup that isn’t commonly seen in standard DeFi protocols.
• Simulated unified cross-chain balances make the demo fast and simple without deploying complex bridging logic.
• Gasless UX with Privy smart wallets is abstracted so users never manually sign or pay gas, even across multiple interactions.