Despite the market downturn following the Merge, Sturdy has experienced robust growth, hitting a new peak TVL with a 30% increase on Ethereum last month, following a 20% gain in August. The largest Ethereum lending protocol with no token continues to grow!
As mentioned in wen token, obtaining product-market fit has always been Sturdy’s primary objective. We have experienced increasingly strong demand from both the lending & borrowing sides organically, and are super excited about what we’re bringing to you next.
Sturdy has achieved a notable presence throughout the month, the team has been aggressively focused on product development and ecosystem building. Here are some of the highlights from September.
Early vault access ft. DegenScore
We teamed up with DegenScore to grant their users with higher scores early access to the new vault. Up to 300 degens registered and the TUSDFRAXBP vault has succeeded in onboarding liquidity and pushing the volume to new highs despite bearish conditions.
DS registrants can enjoy leveraged positions with 1 click and receive bull market yields. You can refer to detailed tutorials here and we’re actively answering questions in the Discord. Come say Hi!
Bridging web3 identity via unstoppable domains
Following the ENS integration, we’re collaborating with Unstoppable Domains — the leading web3 digital identity protocols. The integration will enable users to display their custom web3 name when lending & borrowing on Sturdy.
When you login to Sturdy, don’t forget to claim a free NFT domain if you’re new to the service. Head over to app.sturdy.fiance!
Opt-in Sturdy channel for on-chain notification via Push
Shout out to the Push team’s awesome work, Sturdy’s channel is officially live!
Opt-in here: https://app.push.org/#/channels?channel=0xE55496e5eA3Ca27e527CE2dc165D0F66933d42D0
Subscribers will receive decentralized push when
- loans approaching liquidation
- high APY opportunities available on the platform
Also, we’re excited to share that our partner EPNS is rebranding to Push Protocol — the announcement marks the first step towards a multi-chain communication future — allowing Push Protocol to be the communication platform of web3. Check out their rebranding here.
Peg insurance with Y2K Finance
We recently rolled out one-click leverage features on Curve LP tokens to earn higher yields with far less fees, which brought in liquidity and received positive feedback from the community. Since the collateral are yield-bearing stablecoins, a depeg event is the greatest risk of liquidation on Sturdy.
To further reduce risk, we’ve partnered with Y2K finance via their Earthquake service to allow users to hedge, speculate, and underwrite the volatility risk associated with pegged assets. Insured collateral assets include:
FRAX+3CRV
sUSD+3CRV
3CRV Ironbank
FRAX-BP
We believe we will have the insurance available in a few weeks. Stay tuned!
Sam’s opinion featured on Cointelegraph
After the Merge event, Sam shared his opinion that staked ETH is more capital efficient and profitable than regular ETH, and platforms that offer liquid staking derivatives are having their popularity bolstered. In the Sturdy roadmap, we’re working on adding ETH as an asset that can be lent or borrowed soon, and will be adding more LSDs as collateral. The use cases will enable borrowers to keep some of the staking yield, while also allowing them to lever up and earn >25% APY on their ETH.
Post-Merge ETH has become obsolete
The article has received massive amounts of attention, reaching around 100K views — marking it the highest viewed article under the opinion column.
DeFi Slate: Yield discover with Sturdy
Here we appreciate DeFi Slate for hosting the episode with Sam. Check out the insightful conversation about sustainable yield, DeFi security, and Sam’s crypto journey starting from cryptography.
Interview with Sam, CEO & Founder of Sturdy
Recommended reads:
- wen token?
- How Sturdy takes advantage of liquid staking derivatives
- Top 5 Bleeding Edge Lending Protocols You Need To Check Out
- Post-Merge ETH has become obsolete
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. Sturdy is live on Ethereum Mainnet and Fantom Opera.
To learn more, you can connect with us on Twitter, Discord, and Medium.
