We’re thrilled to announce that Sturdy is bringing interest-free borrowing and high yield lending to Ethereum mainnet on June 3rd!
Why Ethereum?
Ethereum represents the heart of DeFi; this deployment will enable Sturdy to provide users with greater levels of security and liquidity. A number of core DeFi building blocks are on Ethereum, providing strong partners for Sturdy to integrate with including Lido, Yearn, Curve, and Convex.
For instance, Sturdy will support Curve LP token as collateral and allow users to borrow stablecoins against them at no interest or fees (just gas). This provides borrowers with up to 10x leveraged yields and unlocks a 10x ROI opportunity for protocols to grow their Curve pool’s liquidity.
Behind the scenes, Curve LP tokens will be staked in Convex or Yearn (depending on which has higher APYs). Staking yield will be periodically harvested, swapped to stables, and distributed to stablecoin lenders.
Sturdy enables users to lend USDC, USDT, and Dai to earn passive income with single-sided stable farming. Or, users can borrow USDC, USDT, and Dai free of interest or fees.
We recently completed an audit from Code4rena in addition to our existing audit from Certik. We’ve also partnered with Immunifi to host an ongoing $100,000 bug bounty program.
About Sturdy
Sturdy is a first of its kind DeFi protocol for interest-free borrowing and high-yield lending. Rather than charging borrowers interest, Sturdy stakes their collateral and passes the yield to lenders. This model changes the relationship between borrowers and lenders to make Sturdy the first positive-sum lending protocol.
To learn more, you can connect with us on Twitter, Discord, and Medium.
