Hope you didn’t sell in May and go away; this past month was HUGE for Sturdy.
In the past few weeks, governance has approved major proposals, Sam’s sat down for multiple chats, devs released a cool new analytics dashboard, and Sturdy continued to be integrated across DeFi applications.
There are tons of exciting achievements to discuss from last month; we’re breaking down section by section so you don’t miss a thing.
Interviews
The best way to get and stay up to date with everything Sturdy is to listen to Sam chat about it in interviews; you just might get some alpha!
The guy has been busy this month, be sure to check out the Twitter spaces recording from his RocketPool interview and the DeFi Dojo AMA, and keep an eye out for DeFi Dad’s interview dropping sometime soon!
This month’s interviews offer an in-depth explanation of how yields on Sturdy work, the role of governance and Sturdy DAO, and even a little alpha about Sturdy’s near-term goals.
Analytics Dashboard
Be sure to check out our new analytics dashboard for an inside look at how Sturdy operates!
The new analytics dashboard gives users insights such as:
-Historical TVL, supply, collateral & borrowing volumes
-Current utilization rates for each asset
-Current supply & borrow volumes with yields for each asset
-Base and max leverage APY% for collateral assets
-Historical APYs, users, & liquidations.
This dashboard provides greater transparency to Sturdy users and interested parties. Let us know how you’re using the new analytics dashboard in our Brick Gang quest, or read up on our breakdown to make sure you’re making the most of the new dashboard!
InsurAce Protection
Sturdy users can now insure their deposits against smart contract vulnerabilities with InsurAce!
InsurAce is a leading web3 player with nearly half a billion in protected assets from over 100 dApps across various chains.
Check them out to protect yourself against everything from smart contract vulnerabilities, custodian risk, and stablecoin depegging; plus, now they even offer bridge coverage!
Governance
SIP-005
Governance onboarded Aave v3 BB-A-USD as the newest collateral asset to Sturdy’s stablecoin market! This is the latest iteration of one of the most important LPs in DeFi. The pool gives access to yields from across stablecoin markets and is excepted to grow at a near-exponential rate!
Interested in learning more about this integration?
Check out the proposal and our Twitter write-up!
SIP-006
rETH/wETH was added to Sturdy’s Ether market after being approved by governance with SIP-006. The LP enables users to lever up on liquid staking narrative with the second largest LST/ETH LP on balancer from Rocketpool, the most decentralized liquid staking provider. This integration is just the beginning of Sturdy’s LST LP expansion. Soon you’ll be able to lever up on all the juiciest LST yields on Sturdy; cbETH/ETH was just added as a proposal in governance.
Interested in Sturdy’s Ether market’s newest collateral?
Check out the proposal and our Twitter write-up!
SIP-007
Sturdy’s switched up liquidity mining! Utilization rates stabilized after 2 months of the previous liquidity mining model; now, governance is lending its attention to expanding protocol TVL. The most recently approved Sturdy Improvement Proposal increases liquidity mining emissions as TVL increases in order to align incentives between governance and users. Lenders will get an extra 10% for every $3 million in TVL over $26 million.
Want some more info on the new liquidity mining strategy?
Check out the proposal and our Twitter write-up!
Discussions
Even after all the exciting proposals governance has already approved, there are still tons of discussions happening on Sturdy’s governance forum!
Here’s a quick glimpse at a couple of the heavy hitters:
Integrating cbETH/wstETH
Governance is considering onboarding cbETH/wstETH to further expand Sturdy’s Ether market. This would be the fourth collateral asset on Sturdy’s Ether market, integrating Coinbase’s liquid staking token, cbETH
Check out the discussion here and the recently posted proposal here!
Interest Rate Adjustment
There’s currently a discussion exploring adding a more consistent interest rate for borrowers to mitigate interest spikes and drive more consistent yield to lenders.
Join the proposal here!
Brick Gang Sprint #2
Brick Gang is in the middle of their second sprint on Zealy! Members are currently competing for a spot in Brickg Gang Premium, where they’re eligible to win giveaways for everything from USDC to exclusive Sturdy merch.
Brick Gang is your chance to contribute to the Sturdy ecosystem and expedite the growth of the platform! There are quests for every skill set, so check out the quest board and get grinding!
$STRDY listings 🤫
Governance has been abuzz with talks of preparing $STRDY for transferability. While the DAO still isn’t quite there yet, you can now find the $STRDY ticker live on both CoinmarketCap and CoinGecko.
But remember, the only way to stack $STRDY at the moment is through liquidity mining incentives, so get lending!
That’s all there is to say about May!
June is already ramping up to be an exciting month in the Sturdy ecosystem, so be sure to follow us on Twitter and hop in the discord to stay updated with everything Sturdy.
And, of course, check out the governance forums and Brick Gang to join in on the fun!
Until next month anon- stay safe and stay sturdy.
