Sturdy: Changing the Game of Yield Farming
What Sturdy does
Sturdy is a game-changer in the field of decentralized yield farming, providing a unique positive-sum mechanic. The platform allows borrowers to leverage up to 10x on collateral while lenders can sit back, relax, and watch their yields grow from the borrowers' farming efforts without any of the associated risk or farming costs.
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What’s Currently Going on in the Industry?
Let's be real, in the present landscape, most lending protocols are akin to a cage match between borrowers and lenders. They have to duke it out in a competitive environment where borrowers pay fees, and lenders get the yield incentives. But, in walks Sturdy, with its "We Are the World" vibes. It's not here to fight; instead, it's here to collaborate with similar projects like Gearbox and Morpho and carry the DeFi lending industry forward into a new era.
Company Birth Story
This isn't your run-of-the-mill startup tale. It's a story of two Stanford students, Sam and Dominic, who looked at the existing lending protocols and said, "No, thank you." They were tired of the zero-sum game overshadowing the benefits of DeFi and sending users back into the arms of TradFi. So, they rolled up their sleeves and developed Sturdy, a lending protocol that kicks high-interest rates to the curb and offers lenders high, stable yields. And that, ladies and gentlemen, is what they call a "positive-sum model"
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The Solution
Here's a peak under the hood at how Sturdy works. Borrowers deposit collateral, which Sturdy then transforms into an ibToken by staking into another protocol like Lido. This ibToken is then secured in Sturdy's smart contract-managed lending pool where it gradually generates yield. When users want to withdraw, Sturdy reverses the process, unstaking the ibToken, and returning the original collateral token back to the user. Meanwhile, every 24 hours, the staking yields are divided between borrowers and lenders. In short, it's like a magical money-making machine for both borrowers and lenders.
Why You Should Try Them Out
Since its launch in 2021, Sturdy has been on a roll. The platform's positive-sum mechanic has been a hit, leading to a significant improvement in the user experience and product-market fit. The team even launched Sturdy 1.0 with a redesigned UI and a one-click leverage feature. Not only is it a more friendly experience for both the old hands and the newbies in the game, but it also allows users to leverage some of the most popular DeFi yield farming protocols. Borrowers and lenders alike, it's time to jump on the Sturdy bandwagon.
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Why You Should Invest
It's not just about the impressive milestones Sturdy has achieved, like reaching 100K transactions, passing a security audit from Certik, and achieving > $20 million TVL within just a few months. It's about their mission to transform DeFi lending. Sturdy has shown that it's not just another startup; it's a movement ready to change the DeFi landscape. With its commitment to continuous growth and its unique positive-sum model, investing in Sturdy could be an opportunity you don't want to miss.
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