March was a massive month for Sturdy, from deploying on an L2 for the first time to onboarding various projects and smashing TVL records. Here’s a quick breakdown of everything that’s been happening over the past month in the Sturdy ecosystem.
Mode deployment
Sturdy went live on Mode this month, integrating assets from Renzo and Etherfi. With leverage, users have been earning up to 10x EigenLayer points and up to 20x Renzo, Mode, and EtherFi points. Users have been scrambling to rack up as many points as possible on Sturdy, utilization on the Renzo silo has maintained nearly 100% for the entire month, with lenders earning great yields on top of the points.
Bittensor Testnet
Sturdy’s bringing AI to DeFi with the new Bittensor Subnet. Currently still on the testnet, the Sturdy subnet will provide transparent, decentralized optimal allocations for Sturdy aggregators so lenders can get high yields without manually rebalancing their positions. Get involved by joining the Sturdy channel on the Bittensor Discord
Kelp Integration
Sturdy’s offering even more LRTs with the recent Kelp deployment. Kelp DAO is a decentralized, non-custodial liquid staking protocol built on Ethereum. It allows users to restake their ETH and LSTs (stETH, ETHx, and sfrxETH) and participate in the DeFi ecosystem with the help of rsETH. The integration enables users to lever up on rsETH and PT-rsETH for up to 10x their restaking rewards
Integration on Yearn
Yearn recently added new vaults to their UI to provide liquidity to two of Sturdy’s aggregators, featuring assets from Curve Finance and Swell Network. The integration makes it even easier for users from across DeFi to take advantage of Sturdy’s aggregators and provides more liquidity for borrowers to lever up against their Curve LPs or SWETH/Turbo SWETH
Smashing TVL records
Sturdy’s TVL has been on an unstoppable ascent throughout the month of March, from less than $ 8 million at the beginning of the month to over $40 million; Sturdy’s given a new meaning to March Madness. With more integrations and deployments in the pipeline, the growth isn’t stopping anytime soon.
Yearn Spaces
Sturdy’s founder, Sam, chopped it up with the Yearn team to go over what inspired Sturdy’s unique approach to lending and all the recent/upcoming developments to the protocol. Give it a listen to get caught up on all things Sturdy and learn how to get involved with future integrations and deployments
https://x.com/SturdyFinance/status/1773444029679865939?s=20
Looking Forward
Don’t worry, there are plenty more developments planned for next month, so be sure to hop in the discord and follow Sturdy so you don’t miss a thing!
