Simple and Quick Access to DeFi with the new Pillar Update

Simple and Quick Access to DeFi with the new Pillar Update

Written by

Romana Basilaris

July 9, 2020

Pillar is making it possible for anyone, anywhere, to access the world of DeFi through our new integrations.

We’re making it easier for anyone, anywhere, to benefit from DeFi services through our Aave, PoolTogether, WBTC Cafe, and WalletConnect Mobile integrations.

One of our main priorities has always been to give users a secure and smooth way to interact with Web3 services. The Pillar Offers Engine was the first step in making that vision a reality, and we’re now expanding on it with new DeFi integrations.

Put your assets to work with Aave & PoolTogether

Through Aave, a decentralized lending protocol, you will be able to earn interest on your crypto assets… straight from the Pillar app.

In order to start earning interest, you simply navigate to Aave within the Pillar app and choose which assets you’d like to earn interest on. When you make this deposit, you’ll receive an equal amount of aTokens, which are pegged 1:1 to the value of the underlying asset you deposited.

Because your deposit enables other people to borrow through the Aave protocol, your aTokens accrue interest. You’ll be able to see your balance grow in real-time!

Using PoolTogether, a no-loss lottery, you’ll have the chance to win crypto every week. Users deposit DAI into the pool to get tickets. All the DAI in the pool earns interest, and at the end of every week, one lucky ticket holder wins all the interest accrued that week. Because the prizes come from the interest generated, it’s a no-loss game… and you can withdraw your full deposit at any time! 

Pro tip: Use Aave to increase your crypto holdings, then swap these to DAI and start participating in PoolTogether with more tickets to increase your chances of winning.

Sounds like a good deal, right?

Update your app today to start playing with these new features.

Use your BTC to tap into the world of DeFi

BTC users – we got you! One of the downsides of hodling Bitcoin is that you can’t leverage anything of what DeFi has to offer with those assets. They sit in your wallet, and you wait (and hope) for their value to increase.

Luckily, it is now possible to get all the benefits that DeFi has to offer with your BTC through Wrapped Bitcoin: The tokenized representation of BTC on Ethereum. Let us explain!

We have partnered with Ren Protocol to develop an in-app version of WBTC Cafe. While that is still a work in progress, our partnership has already enabled WalletConnect support for WBTC Cafe.

That means you can exchange your BTC to WBTC (and vice versa) at any time.

You now own WBTC, which gives you access to virtually all of Ethereum’s DeFi services. So you take your WBTC, deposit it into Aave, and start earning interest, directly within the Pillar app.

Whenever you want, you can instantly transfer your WBTC back to BTC and send it to an external BTC wallet.

On top of that, you can send WBTC directly to your address book contacts, instead of sending your BTC to confusing public key addresses.

It will also be possible to recover your WBTC in Pillar’s Web Recovery Portal, which would not be possible for BTC.

In essence, our new WBTC Cafe integration allows you to increase your BTC holdings through DeFi services, and improves transaction and recovery options, while still giving you the opportunity to convert your WBTC back to BTC at any time to keep hodling. It’s the best of both worlds.

Seamless access to mobile dapps with WalletConnect Mobile

WalletConnect helps you better manage and secure your private keys by providing an end-to-end encrypted communication channel. That means you can interact with dapps safely by never having to leave your wallet.

Previously, WalletConnect served only as a secure remote connection between a mobile wallet and a desktop dapp. You would open your wallet and scan a QR code on your desktop in order to interact with the desktop dapp.

However, with the launch of WalletConnect Mobile, it is now finally possible to connect your mobile wallet with a mobile application, without needing another device. That means no hassle and access to your favorite dapps within seconds!

We hope you’re as excited as we are about these new integrations, and we can’t wait to show you what other amazing updates we have been working on.

Make sure to update your Pillar app to get access to all the above features, and stay tuned for more exciting things to come!


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