It’s been an exciting month for Sturdy! We deployed on the Ethereum Goerli testnet and received a lot of valuable feedback from the community. We’re humbled and grateful for the support that you have shown at our very early stage.
Today, we are thrilled to announce that Sturdy has chosen to bring interest-free borrowing and high yield lending to Fantom. We believe that Fantom is the right chain to initially launch our protocol on in order to deliver the best possible experience to users.
Why we decided to launch on Fantom
Lower fees
One of Sturdy’s core advantages is offering feeless loans: borrowers pay no interest, deposit, or withdrawal fees. But users still have to pay gas fees, which can be hundreds of dollars on Ethereum mainnet. This would exclude many users with smaller positions from using our protocol.
On Fantom, we expect transactions to cost no more than a few dollars. This will make our protocol accessible to all users, regardless of size.
Higher yields
On Sturdy, yields are powered by the interest earned on collateral. In the case of ETH on Ethereum mainnet, yields are relatively low (roughly 5% APY with staking platforms like Lido).
On Fantom, WFTM is currently earning roughly 10% APY on Yearn, translating into stablecoin yields that are two times higher than what would be possible on Ethereum mainnet.
Roadmap
Sturdy is available on Fantom testnet here. We will be launching on Fantom mainnet in Q1, with launches on other EVM-compatible chains following soon after.
Deploying on multiple chains will bring sustainable growth to Sturdy and enable us to bring our transformative lending model to as many users as possible.
To interact with the testnet, you can request test FTMs here and test stablecoins in the #testnet-faucet channel in our Discord.
About Sturdy
Sturdy is a first of its kind of DeFi lending protocol offering interest-free borrowing and high yield lending. Users can interact with the protocol in two ways: as ‘borrowers’ who take out loans and provide collateral or as ‘lenders’ who earn yield on their assets.
Borrowers pay no interest, withdrawal fees, or deposit fees. Instead, their collateral is staked, and the yield from their staked collateral is used to provide interest to lenders. Lenders benefit from interest rates that are higher and more consistent than a money market where borrowers pay a variable APY.
To ensure that you don’t miss out on the latest developments, stay connected with Sturdy on Twitter, Medium, and Discord.
