The Sturdy Protocol is live on the Goerli Testnet at app.sturdy.finance!
Our immediate goal is to collect feedback from the community which we will use to refine the UI prior to going live on mainnet. We welcome any feedback you have about the website, especially if you find anything to be unintuitive or confusing. Please share your feedback in the #testnet channel on Discord.
To interact with the protocol, we recommend having some Goerli ETH and Goerli Dai.
For Goerli ETH, you can use any of the following faucets:
- https://faucets.chain.link/goerli
- https://faucet.goerli.mudit.blog/ (requires Facebook or Twitter)
- https://app.mycrypto.com/faucet
For Goerli Dai, paste your ERC-20 address in the #testnet-faucet-dai channel on Discord.
About the Sturdy Protocol
Sturdy is the first DeFi lending protocol with both zero-interest loans and high yield deposits. Users can interact with the protocol in two ways: as ‘borrowers’ who take out loans and provide collateral or as ‘depositors’ 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 depositors. Depositors benefit from interest rates more consistent than a money market where borrowers pay a variable APY.
Example
- Alice deposits 100 USDC to the protocol
- Bob provides .05 ETH as collateral and takes out the 100 USDC Alice has deposited as a loan
- Over time, Bob’s debt remains constant and Alice’s balance grows
Here’s what happens under the hood:
- When Bob provides his ETH as collateral, Sturdy stakes it via Lido, converting it to .05 stETH (a yield-bearing version of ETH)
- Thanks to Lido’s mechanics, stETH rebases to a new balance of .06 over time
- Sturdy swaps the yield of .01 stETH to 40 USDC and increases Alice’s balance to 140 USDC
