Where We Started
We first introduced the Sturdy model over a year ago; over the past year, we’ve worked hard to provide a platform that substantively adds to the DeFi ecosystem.
We revolutionized the lending experience by providing real yield via staking rather than pitting borrowers against lenders, became the largest lending protocol without a token on Ethereum, and helped strengthen DeFi by partnering with some of the largest protocols.
This was a year of experimentation and finding product-market fit; we wanted to create a useful protocol that provides value to users without relying on token emissions.
Where We’ve Come
Think of Sturdy as a decentralized yield farming fund. Borrowers can leverage collateral assets like Convex LP tokens; they forgo a portion of the yield to gain up to 10x leverage. Lenders receive a portion of the yield from borrowers’ farming in exchange for providing liquidity. This system creates a positive-sum interaction between user groups by offering lenders the benefits of active yield farming without taking on gas costs, time commitment, and increased risk while allowing borrowers to gain outsized positions with which to farm.
Sturdy 1.0 signals our stepping up to the starting line. We’ve partnered with some of the top DeFi protocols to offer various sources of yield, weathered tumultuous market conditions, and redesigned our entire UI to make using Sturdy as simple as possible; Sturdy has been tested and iterated upon, and now we’re ready to boost profits and capital efficiency of all DeFi users.
Where We’re Going
As part of Sturdy 1.0, we’ll be adding more collateral assets, releasing our revamped UI, and adding an ETH market to offer users even more opportunities beyond stablecoins!
We’ve provided stablecoin holders the ability to lever up to sustainably maximize their yields. Now we want to do the same thing on the ETH market. Soon, users will be able to borrow ETH against various LSDs such as wstETH and sfrxETH to boost their farming yields 10x without taking on massive liquidation risk.
Additionally, we’ve decided to follow through on one of the most requested features: the Sturdy token ($STRDY).
We’ve held off this long to ensure we had designed a sustainable system, capable of supporting itself without relying on token emissions. It’s become clear that we’ve passed that point, and now we’re ready to take Sturdy to the next level!
Turn notifications on since we’ll be sharing more information about airdrop recipient groups each day until Sturdy 1.0, starting tomorrow! Tokens will be claimable in early 2023, and will initially be non-transferrable.
Be sure to continue to follow along with the final days of Brickmas for more information regarding the $STRDY token!
About Sturdy
Sturdy is a decentralized yield farming fund, enabling borrowers to farm with up to 10x leverage on projects like Convex. Lenders receive a portion of the yield from borrowers’ farming for providing liquidity. Sturdy’s unique system provides lenders with the benefits of yield farming without the associated time, risk, or gas costs while allowing borrowers to gain outsized positions for yield farming, creating a positive sum dynamic between the two groups.
