ReHold, the pioneering DeFi application known for its innovative dual investment product, has announced its live partnership with SKALE. Rehold will leverage zero gas fees on SKALE to store actions from their protocol for long-term visibility, in addition to recurring actions such as limit orders and automatic repayments. This collaboration marks a significant milestone in the evolution of DeFi trading, offering users a seamless, cost-effective trading experience.
SAN FRANCISCO, Jan. 24, 2024 /PRNewswire-PRWeb/ -- In a groundbreaking development for the DeFi sector, ReHold, the pioneering DeFi application known for its innovative dual investment product, has announced its live partnership with the SKALE Network.
Rehold will leverage zero gas fees on SKALE to store actions from their protocol for long-term visibility, in addition to recurring actions such as limit orders and automatic repayments. ReHold will use a SKALE Chain as a modular public provability layer for their data. This collaboration marks a significant milestone in the evolution of DeFi trading, offering users a seamless, cost-effective trading experience.
1. Zero Gas Fees on Trades: Traditionally, data for recurring payments are very costly to store on-chain. SKALE provides a solution for this by allowing Rehold users to replay their duals, activate Auto-Replay, or set up Limit-Duals, all without incurring extra gas fees. This is not a temporary offer or subsidy offer, zero gas fees are a permanent fixture of SKALE architecture.
2. Significant Cost Savings: In just 30 days, users trading on ReHold have saved nearly $5,000 in gas fees. For comparison, processing these transactions on Ethereum would have cost an estimated $15,000.
3. SKALE as a Modular Data Availability Layer: A complete record of all user transactions is meticulously registered and stored on the SKALE Network, ensuring maximum transparency and security for ReHold users.
ReHold's journey in the DeFi space has been marked by significant achievements and a commitment to providing high-yield short trades for retail users. With a total volume exceeding $230M+ and an all-time high TVL of $3M, ReHold has established itself as a formidable player in the DeFi market. The partnership with SKALE, known for its best-in-class scaling solutions and zero gas fees, is a strategic move to further enhance ReHold's offerings and scale its operations efficiently.
Renat Gafarov, CEO & Co-Founder of ReHold commented on the partnership, stating, "When ReHold first launched, we were the only Dual Investments on DeFi, supporting Top-9 EVM chains. Our partnership with SKALE, thanks to their speed and scalability, is a game-changer, allowing us to support our exponential growth, providing a frictionless UX."
Jack O'Holleran, CEO & Co-Founder of SKALE Labs said, "Thanks to SKALE's modular architecture and zero gas fees, Rehold allows actions that would otherwise be very gas intensive, such as limit orders and automatic repayment, for zero cost. This use of SKALE as a modular data availability layer is pushing the boundaries of what is possible on DeFi."
As ReHold continues to innovate and lead in the DeFi space, the support and technology offered by SKALE will be instrumental in its ongoing success and expansion. This partnership not only represents a significant advancement for ReHold but also sets a new standard in the DeFi industry for efficiency, cost savings, and user experience.
About SKALE Network:
SKALE is the world's fastest blockchain, designed for secure Ethereum scaling. SKALE chains offer zero gas fees to end-users and is known for its modular architecture, instant finality, and best-in-class user experience.
ReHold, an innovative DeFi protocol, offers the first Dual Investments in the sector. It guarantees high returns by strategically managing price ranges in DEXs' Liquidity Pools for concentrated liquidity. This approach enables substantial earnings from short-term trades, optimizing investment returns within 12- or 24-hour hours.
Spring Dunn, SKALE Labs, [email protected]
SOURCE SKALE Labs