Sturdy is the first positive-sum DeFi lending protocol, providing low-interest loans and high-yield lending. Rather than charge borrowers interest, Sturdy takes their collateral and passes the yield to lenders. Sturdy launched on Ethereum mainnet in early June, and has been steadily growing both in TVL and in partnerships.
Sturdy is thrilled to announce we are once again expanding our accepted collateral by integrating TrueUSD! Sturdy is constantly looking to expand and integrate promising assets; TrueUSD is the first regulated stablecoin fully backed by the US dollar.
Sturdy users will now be able to deposit Curve’s TUSD+FRAXBP LP token (TUSDFRAXBP) as collateral. Users will be able to deposit their TUSDFRAXBP tokens to earn the full Base Curve APR and 75% of all CRV from Convex staking, amounting to 2.3% APY at the time of writing. Users will be able to lever up earn over 19% APY thanks to Sturdy’s unique low-interest loans.
Leverage always contains risk, however in this case, both the collateral and borrowed assets are stablecoins. As a result, liquidations will only occur in the event of a depeg. Frax’s deep liquidity and innovative peg mechanisms (like the AMO) have enabled FRAX to consistently trade tightly around its $1 peg through a variety of market conditions. The meshing of FRAX with TrueUSD further diminishes the risk of depeggings as TrueUSD is a fiat collateralized stablecoin. The 1:1 backing of TrueUSD ensures that 1 TUSD=1 USD.
About TrueUSD
TrueUSD is the first independently-verified digital asset redeemable 1-for-1 for US dollars. TrueUSD is available for trading on over 70 exchanges, 160 markets, and 20+ OTC desks across 5 continents. The stablecoin has over a billion USD in backing and has partnered with some of the top protocols in the space. TrueUSD is attested to in real-time by Armanino, one of the largest U.S.-based accounting firms, to ensure the 1:1 ratio of its USD reserve to the circulating token supply and the 100% collateral rate. Users can access the publicly available audit results via the official website tusd.io at any time.
About Sturdy
Sturdy is a first-of-its-kind DeFi protocol for interest-free borrowing and high-yield lending. Rather than charge 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.
