Simple Vaults
Simple Vaults are designed for users who prefer a straightforward approach to yield farming. When a user selects a Simple Vault, they deposit a single asset into the vault using their ODX account. ODX then sanctions the user's funds into the vault, which means it approves and records the transaction within its system.
In the background, ODX deploys these funds into yield-generating protocols on the asset's native blockchain. These protocols could include staking mechanisms, lending platforms, or liquidity pools, depending on the asset and the vault's strategy. The user doesn't need to manage multiple wallets or interact directly with different DeFi platforms; ODX handles all technical interactions.
When the user decides to withdraw their funds, ODX processes a withdrawal request, retrieving the funds and any earned yield from the underlying protocols and returning them to the user's ODX account. Throughout this process, the user enjoys a seamless experience, with all complex operations abstracted away.