What is the Robo-Advisor for Yield (RAY)?
The Robo Advisor for Yield (RAY) is a system of smart contracts and off-chain oracles that automatically allocate crypto assets to the highest yielding opportunities. RAY is the easiest way for a holder of ETH, DAI or USDC to earn the highest yield available across yield-generating DeFi opportunities.
Which crypto assets and opportunities does RAY currently support?
RAY currently supports on-chain lending for ETH, DAI and USDC tokens via the Compound, dYdX and bZx smart contracts.
Have the RAY smart contracts been audited?
The RAY smart contracts were audited by Trail of Bits, a leading security research firm, in August 2019. The official audit report is available for download here.
Which opportunities does RAY intend to support in the future?
Over time, RAY will support staking, the DAI savings rate, arbitrage opportunities, market-making, and other opportunities created by the community.
How does on-chain lending work?
On-chain lending protocols (e.g. Compound and dYdX) provide trust-minimized smart contracts that facilitate decentralized lending and borrowing of crypto assets. Yields change regularly based on market demand.
To lend crypto assets on-chain, investors deposit tokens into smart contracts operating on the Ethereum blockchain. Collateral requirements and interest payments are managed on-chain via smart contracts.
How does custody work for RAY tokens?
You keep custody of your crypto. Assets are deposited into smart contracts on the Ethereum blockchain and can only be withdrawn by the owner of the corresponding RAY ERC-721 token.
Are there fees involved?
RAY does not currently charge fees.
Who pays for gas?
RAY depositors currently need to pay for their own gas.
How do I add the RAY Token to MetaMask?
Go to "Add Token", "Custom Token", settings:
Token Contract Address: 0xE215e8160a5e0A03f2D6c7900b050F2f04eA5Cbb
Token Symbol: RAY
Token Decimals: 0
Select "Next" to add RAY to your MetaMask.