Sturdy has experienced phenomenal growth since our Ethereum mainnet launch in June. So far, we’ve provided users with the best stablecoin yields in DeFi, partnered with leading protocols, and built a strong community.
Sturdy has managed to become the largest lending protocol on Ethereum without a token thanks to our innovative mechanics, reaching a TVL of over $25 million.
As exciting as all of that is, it was just the preseason; we’re just getting started and have a ton of exciting developments as part of Sturdy 1.0!
What is Sturdy
Think of Sturdy as a decentralized yield farming fund. Borrowers are able to lever up on 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 offers lenders the benefits of active yield farming without taking on gas costs, time commitment, and increased risk while allowing borrowers to gain outsized positions to farm with.
Why Sturdy ‘1.0’
It may seem strange to call this release 1.0 after being open to the public for several months.
The name represents just how early Sturdy is in its journey to transform DeFi lending — we’re just now getting to the starting line.
Here’s what you can expect from the new release.
User Interface
We’re currently working on a complete redesign of the Sturdy UI.
We want to make Sturdy accessible and valuable for everyone by ensuring it’s as intuitive as possible. We recently released our one-click leverage + deleverage feature to make it easier and cheaper to perform leveraged farming. The new UI will further improve the user experience by providing clear insights into the protocol, such as enhanced reserve visibility and historical APY data.
This redesign will help users better understand the protocol’s mechanics and make the most out of their deposits. Let us know if you’d like early access!
New Assets
Currently, Sturdy features some of the top stablecoins for lending and accepts LP tokens from leading DeFi projects as collateral.
The list will continue to grow following the release of Sturdy 1.0. We recently announced the integration of Curve’s TUSD-FRAXBP LP as a collateral asset on Sturdy, and we’ll be adding more assets in the near future.
Additionally, Sturdy will be adding an ETH market. This will allow ETH to be lent or borrowed, enabling leveraged farming of Aura wstETH and Convex stETH for over 25% APY.
Enhanced Security
Sturdy 1.0 will be released alongside our third audit (from Quantstamp) and other measures designed to further improve security.
And More!
You can expect lots of other new features to be announced over the coming weeks.
Expected Release Date
We’re heads down, plugging away at delivering this release. Features will likely be rolled out over a period of several weeks, which we currently expect to begin in November.
We’ll be sure to update the community as the timeline becomes more definitive, but there are plenty of great yield opportunities to explore on Sturdy in the meantime!
