Logo of Sturdy V1Sturdy V1(STRDY)Deprecated protocol
Total Value Locked$76,697.44

TVL by Chain

Ethereum$76,697.44

Fantom$0

Key Metrics

Active Loans$0

Total Raised$3.9m

Mar 17, 2022$3.9mRound: Seed and StrategicInvestors: Pantera Capital, Y Combinator, SoftBank, KuCoin Ventures, OneBlock Capital, Dialectic, OrangeDAO

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:

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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

Competitors

Aave V3 ($14.127b)Impermax V2 ($538,382.45)Tarot ($497,539.13)88mph ($348,544)Iron Bank ($185,954.76)Morpho Blue ($7.808b)SparkLend ($3.775b)Maple ($2.369b)Compound V3 ($1.137b)Venus Core Pool ($1.058b)

Frequently Asked Questions

What is Sturdy V1?

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.

What is Sturdy V1's TVL?

Sturdy V1 currently has $76,697.44 in total value locked. TVL has decreased 0.3% over the past 30 days.

What chains does Sturdy V1 operate on?

Sturdy V1 operates on 2 chains: Ethereum and Fantom. Ethereum holds the largest share at 100%.

How much has been borrowed through Sturdy V1?

Sturdy V1 currently has $0 in active loans.

Has Sturdy V1 ever been exploited?

Sturdy V1 has 1 recorded security incident. The most recent incident occurred on Jun 12, 2023 and involved $770,000. It was classified as Ecosystem.