October 13, 2023
SKALE Partners with ReHold to Power the Future of DeFi Trading
In the ever shifting landscape of decentralized finance (DeFi), the need for efficient and high-yield short trades has become paramount. ReHold, a DeFi protocol, has recognized this gap and is on a mission to enhance passive income for retail users in the decentralized space. By leveraging the CLMM mechanics, ReHold offers short trades with high annual returns. However, to truly optimize their offerings and scale their operations, a partnership with the SKALE, the worlds fastest blockchain, became essential.
ReHold's Multichain Journey
ReHold is not just another DeFi protocol. It's a platform that has been designed with the needs of retail, seasoned, and professional traders in mind. These traders, who understand the immense benefits that DeFi can bring, are always on the lookout for platforms that can offer them the best returns. Since its launch in late January to early February 2023, ReHold has seen impressive numbers. With a total volume exceeding 180M+ and an all-time high total value locked (TVL) of 3M, it's evident that ReHold has struck a chord with its target audience. The platform's average TVL stands at about 1M, and it has been operating profitably since April.
Gas Free DeFi On SKALE
So, why did ReHold choose to partner with the SKALE Network? The answer lies in SKALE's unique offerings. The SKALE Network offers best in class scaling solutions, including dApp-specific chains and zero gas fees for end users, which are crucial for DeFi platforms like ReHold that handle vast amounts of data and require rapid transaction speeds. In the words of ReHold, "In order to have a scalable L2 solution - SKALE is just the right fit."
But what exactly is the SKALE Network? It's a decentralized blockchain-as-a-service for dApps, which enhances their scalability without compromising on security. With instant finality, zero gas fees, and no network congestion, SKALE ensures that ReHold can continue to grow without any hitches.
A core team member of ReHold shared their insights on the partnership, stating, "Since the launch of ReHold in January 2023, we have been the only Dual Investments on DeFi. Supporting Top-7 EVM chains, allowed for the most frictionless UX, which contributed to the high demand and growing volume in our transactions. We had to store all of this data on-chain and decided to go with SKALE thanks to their speed and the ability to support our exponential growth."
As ReHold continues to revolutionize the DeFi space with its unique offerings, the support from SKALE will undoubtedly play a pivotal role in its journey towards greater heights.
SKALE is the world's fastest blockchain, designed for fast, secure, user-centric Ethereum scaling. SKALE chains offer zero gas fees to end-users and have advanced features such as ML/AI smart contracts, on-chain file storage, interchain messaging, zero-cost minting, and enhanced security features.
The SKALE network enables developers to deploy their own EVM blockchain in minutes without sacrificing speed, security, or decentralization. Welcome to the SKALEverse.