Today we’re thrilled to announce that Sturdy has chosen to partner with SpookySwap for automated in-app swapping. SpookySwap’s deep liquidity ensures that Sturdy’s lenders won’t miss out on yield.
Mechanics
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 harvest yield, Sturdy swaps the collateral asset (e.g. WETH, WFTM, WBTC) to the asset being lent out (e.g. USDC, USDT, Dai). These swaps are performed automatically on-chain across every asset pair on a daily basis. If any pair were to experience significant slippage, stablecoin lenders would earn less yield.
Why SpookySwap
SpookySwap is an automated market-making (AMM) decentralized exchange (DEX) for the Fantom Opera network. SpookySwap has deep liquidity pools across every asset Sturdy supports, making it an ideal choice. For example, at the time of writing a $100,000 swap in the FTM-USDC pool would have a price impact of under 0.1%.
SpookySwap’s diverse set of pools and permissionless pool creation feature ensures that any future assets added by Sturdy will be supported.
Partnership
This partnership enhances Sturdy’s position as first of its kind DeFi lending protocol for interest-free loans and high yield lending, powered by SpookySwap’s deep liquidity. Meanwhile, SpookySwap is one of the most active Fantom communities with the greatest TVL among Fantom-native protocols. We’re excited to partner with SpookySwap to bring our innovative DeFi lending model to the community.
Stay tuned for more exciting news about Sturdy’s integrations and partnerships!
About Spooky
SpookySwap is an automated market-making (AMM) decentralized exchange (DEX) for the Fantom Opera network. SpookySwap actively invests in building a strong foundation by using the BOO token for governance, rewards on diverse farms, etc. As of its launch in April 2021, SpookySwap has earned endorsement and support from the Fantom Foundation, developed a bridge for popular DeFi networks such as Binance, Avalanche, Polygon, and Arbitrum, and been fully audited by CertiK.
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.
Stay connected with us on Discord, Twitter, and Medium to see how Sturdy is redefining lending, brick by brick.
