InformationTVL

Sturdy V1 (STRDY)

Total Value Locked$76,697

TVL by Chain

Ethereum$76,697

Fantom$0

Key Metrics

Borrowed$0

Total Raised$3.9m

Mar 17, 2022$3.9mRound: Seed and StrategicInvestors: Pantera Capital, yCombinator, SoftBank, KuCoin Ventures, OneBlock Capital, Dialectic, OrangeDAOSource: https://twitter.com/SturdyFinance/status/1503908251934642180

Protocol Information

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.

Category:Lending

Audits:

WebsiteTwitter

Methodology

TVL: Counts the tokens locked in the contracts to be used as collateral to borrow or to earn yield. Borrowed coins are not counted towards the TVL, so only the coins actually locked in the contracts are counted. There's multiple reasons behind this but one of the main ones is to avoid inflating the TVL through cycled lending.View code on GitHub

Hacks

Date: Jun 12, 2023

Amount: $770,000

Classification: Ecosystem

Technique: Flashloan Reentrancy Attack

Chains: Ethereum

Language: Solidity

Target Type: DeFi Protocol

Source

Competitors

Aave V3 ($36.481b)Iron Bank ($20.62m)Impermax V2 ($11.98m)Tarot ($5.33m)88mph ($537,371)Morpho Blue ($6.418b)SparkLend ($4.989b)Compound V3 ($2.29b)Maple ($2.003b)Venus Core Pool ($1.922b)