Earn on Aave

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Deposit and redeem

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How does it work?

You privately supply your assets to an Aave v3 Ethereum Core Market in exchange for a corresponding yield-bearing asset (aka a vault share) that earns interest from borrowers over time. You can redeem these vault shares and get your original asset type back, plus any interest, at any time. When depositing, we show you the current APY and the average APY over the last 30 days. Of course, the future APY is not guaranteed - it could be more or less than what is shown.

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Which assets and Aave markets are supported?

See the Mainnet table here.

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How private is it?

When you deposit or redeem, there is no link to your private account but the asset type and amount going in or out of Aave is public. No one will know anything about your private account balance or activity (including us).

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How to enhance your privacy

When assets are sent from your public account to fund your Nyx private account, there is no onchain link between your public account and your private account. Subsequently, any deposits from your private account into Aave will also have no onchain link to your connected public account. However, if you transfer, for example, 0.123456789 WETH from your public account into your private account and a Nyx relayer immediately deposits the same amount of 0.123456789 WETH into an Aave Ethereum vault, external parties may suspect that your public account is connected to the Aave vault deposit due to the asset type and amount matching and the timing being so close. To obfuscate the link between transferring assets to your private account and making your Aave deposit, you can break your deposit into multiple transactions and/or not deposit everything you transferred. After you transfer assets to your private account, you can also wait until other Nyx users have deposited the same assets into Aave (see Nyx Aave deposit transactions here - the “Deposit to Vault” method).

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Transaction examples (deposit)

Step 1. Aztec transaction to send assets to Ethereum There is an initial transaction on Aztec involving the transfer of private state which has no publicly-visible sender information. The asset type and amount are visible because the Nyx smart contract for the asset type is involved. The Nyx Token Vault Bridge contract is visible in the “Public Calls” section of the explorer page for the transaction as well, which is the Nyx smart contract that interacts with Aave. So, what can be seen is that an unknown Nyx user initiated an Aave deposit (based on the asset type) for the given amount of the asset. Learn more about Nyx smart contracts here. Step 2. Ethereum transaction to deposit assets into Aave Then, on Ethereum, a Nyx relayer acts as the sender in a deposit transaction with Aave. Asset type and amount is publicly visible on Ethereum. In the final step of the transaction, the resulting Aave shares are sent to the associated Nyx Share Portal smart contract to be claimed by your private account (see Step 3 below). There is no public link to your private account. If someone matched the two transactions based on asset type, amount, and timing, they would not know which private account was involved, let alone which Ethereum account funded that private account in the first place. Step 3. Aztec transaction to claim Aave shares Finally, you claim the shares returned from Aave with a claim transaction on Aztec. All that is visible onchain is the asset type and amount, not which Nyx private account was involved. You can see a claim transaction example and learn more about claiming here. The specific claim transaction that goes with the transaction above is this one.

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Transaction examples (redeem)

Step 1. Aztec transaction to send shares to Ethereum There is an initial transaction on Aztec involving the transfer of private state which has no publicly-visible sender information. The asset type and amount are visible because the Nyx smart contract for the asset type is involved. The Nyx Token Vault Bridge contract is visible in the “Public Calls” section of the explorer page for the transaction as well, which is the Nyx smart contract that interacts with Aave. So, what can be seen is that an unknown Nyx user initiated an Aave redeem (based on the asset type) for the given amount of the asset. Learn more about Nyx smart contracts here. Step 2. Ethereum transaction to redeem from Aave Then, on Ethereum, a Nyx relayer acts as the sender in a redeem transaction with Aave. Asset type and amount is publicly visible on Ethereum. In the final step of the transaction, the resulting assets are sent to the associated Nyx Asset Portal smart contract to be claimed by your private account (see Step 3 below). There is no public link to your private account. If someone matched the two transactions based on asset type, amount, and timing, they would not know which private account was involved, let alone which Ethereum account funded that private account in the first place. Step 3. Aztec transaction to claim redeemed funds Finally, you claim the asset returned from Aave with a claim transaction on Aztec. All that is visible onchain is the asset type and amount, not which Nyx private account was involved. You can see a claim transaction example and learn more about claiming here. The specific claim transaction that goes with the transaction above is this one.

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Diagram