Sturdy Price

About the coin

Sturdy is a lending protocol designed to enhance the DeFi ecosystem by accepting interest-bearing tokens as collateral. This allows yield farmers to leverage their positions up to 10 times, providing a unique opportunity for those involved in yield farming. The protocol is built on the Ethereum network and was initially launched on Fantom in March 2022, followed by its Ethereum launch in June 2022. At its peak, Sturdy amassed over $30 million in Total Value Locked (TVL).

Main features

Sturdy stands out due to its composability and integration with various DeFi protocols, offering leverage typically reserved for traders. It was recognized as the largest tokenless lending protocol on Ethereum for several months. The protocol later transitioned to DAO governance with the release of its token, $STRDY, at the beginning of 2023. Lenders on the platform benefit from a share of yield farming profits, creating a positive-sum interaction where borrowers are not charged interest to attract lenders.

How it works

Sturdy operates by allowing users to deposit interest-bearing tokens as collateral, which can then be used to borrow additional funds for yield farming. This mechanism enables users to amplify their yield farming strategies without incurring traditional borrowing costs. The protocol's integration with multiple DeFi platforms ensures that users have access to a wide range of opportunities for maximizing their returns.