Galxe is excited to introduce Smart Savings — the platform that unlocks the full potential of DeFi with cross-chain interoperability and yield optimization. Powered by Latch, Smart Savings expands the breadth of Smart Balance in functionality and versatility, empowering a far-ranging utility while upgrading user experience. The launch of Smart Savings is set to push the Galxe ecosystem one step closer to an omnichain future and elevate your web3 experience through seamless cross-chain transactions, omnichain yield, and instant liquidity.

Key Features of Smart Savings

1. Chain-Agnostic Gas Payment

Smart Savings is designed to combat the persistent issue of chain fragmentation in web3 while upgrading the user experience. Through its chain-agnostic attribute, Smart Savings enables users to settle payments across different blockchains. This cross-chain interoperability optimizes the experience on Galxe Quest by eliminating the need for users to bridge across multiple chains, acquire their native tokens, and do it repeatedly to claim rewards.

With Smart Savings, users can simply maintain one balance that allows them to pay for gas fees across multiple chains. At launch, you’ll be able to pay for gas fees across networks, including Ethereum, BNB Chain, Avalanche, Polygon, Optimism, Arbitrum, Base, Manta Pacific, OKT Chain, Linea, Mantle, Fantom, ZetaChain, ZkSync, Cronos, and Merlin.

2. Native Yield

In Smart Balance, any unused balance in users’ accounts is simply idle as it does not generate a yield. In Smart Savings, however, users can now turn this idle balance amount into interest-earning assets through the integrated ETH staking and RWA protocols. Simply deposit your balance into a Vault and earn a yield on your idle balances.

To reward early users, enjoy an extra 20% APY boost on top of the yield from the underlying protocols when you make a deposit into each Vault.

Calculation formula:

Estimated Total APY = Staking Yields + Early User APY Boost

Eligibility criteria:

a. Maintain a minimum deposit balance for the respective vaults:

• Ether.Fi Vault: Deposit Balance ≥ 0.3 ETH

• Ethena Vault: Deposit Balance ≥ 1,000 USDe

• If a user fails to maintain the minimal balance requirement after spending or withdrawal, the 20% APY boost will stop

b. There is a per-address cap on the balance that can enjoy the 20% APY boost:

• Ether.Fi Vault: capped at 25 ETH balance per address

• Ethena Vault: capped at 100,000 USDe balance per address

For more information, visit this blog. To get started, deposit here.

3. 100% Balance Withdrawal

Users will now be able to withdraw 100% of their balance on Smart Savings as opposed to a non-withdrawable amount on Smart Balance. This heightens the flexibility for active web3 users who seek better control over their assets. In addition, Smart Savings leverages its chain-agnostic elements to support omnichain deposits and withdrawals. For instance, users can deposit ETH on the BNB Chain and withdraw SOL.

*Withdrawals are only applicable to staked tokens and there is a 7–14 day waiting period. Read more here.

4. Instant Liquidity

Parallel to the goal of injecting functionality and versatility, Smart Savings allows users instant access to 10% of their total staked amount at any point in time. This instant liquidity can be used on any chains supported on Galxe (ETH, ARB, Polygon, or BSC) or swapped into any other tokens, granting users the ability to seize unexpected opportunities in the market without unstaking their assets from the ETH staking or RWA protocols.

This instant liquidity will be credited into users’ wallets upon clicking the “Claim” button on the Smart Savings dashboard. The remaining 90% of users’ balance can only be fully withdrawn after a 7–14 day waiting period.

Migration to Smart Savings

As we migrate Smart Savings, we’re sunsetting Smart Balance and all 150K existing users will have their entire balance merged with Smart Savings automatically. In other words, there will be no actions required from you. As for new users, you will be onboarded directly to Smart Savings, unlocking immediate access to the upgraded features.