Sturdy will be launching lending and leveraged yield on top of Balancer and Aura
The team at Balancer Grants SP in collaboration with Aura Grants is proud to approve the grant application by Sturdy to integrate Balancer’s BPT with Aura staking into their lending platform as collateral. This will allow users to have positions leveraged up to 10x for maximising yields.
Currently, Sturdy integrates Convex, Lido, and Yearn, which can be used to earn levered yields. This grant will be used to cover audit costs to integrate Balancer’s BPTs with Aura staking, initially for the Aave Boosted Pool and wstETH/ETH pool with more pools to be added in the future. The result is that users will be able to borrow against their BPTs staked in Aura, effectively enabling them to farm with 10x more funds.
“Leveraged strategies taking advantage of Balancer boosted pool technology in combination with Aura staking have proven to be very popular for good reason and we’re excited to keep expanding adoption across DeFi.” — Burns, Balancer Grants co-Lead
“By integrating Balancer LP tokens as collateral, Sturdy will become even more attractive for yield farmers seeking to access up to 10x leverage’”— Sam Forman, co-founder Sturdy
About Sturdy
By offering interest-bearing tokens as collateral, Sturdy enables DeFi’s best yield farmers to farm with up to 10x leverage on projects like Convex and Aura. Lenders receive a portion of the yield from borrowers’ farming for providing liquidity. Sturdy’s unique mechanics provide lenders with the benefits of yield farming without the associated time, risk, or gas costs while allowing borrowers to gain outsized positions for yield farming, creating a positive sum dynamic between the two groups.
For more information see their website, Twitter or Discord.
About Aura
Aura Finance is a protocol committed to boosting DeFi stakeholders’ yield potential and governance power, starting with Balancer. Aura provides maximum incentives to Balancer liquidity providers and BAL stakers (into veBAL) through social aggregation of BAL deposits and Aura’s native token.
The Aura Ecosystem Fund provides grants to individuals and projects committed to the health of the Aura and Balancer ecosystems. For more information see their website, Twitter or Discord.
About Balancer Grants
The BAL Grant program is one way BalancerDAO promotes the development of the Balancer Protocol and Ecosystem.
The BAL Grant program provides support and funding ($1K — $100K) to projects committed to supporting Balancer Protocol in achieving its mission to become the number one source for Decentralized exchange trades. This program is a good fit for individuals and groups that want to run a project that builds technology or resources on the Balancer Protocol.
Apply now!
If you are interested in supporting the development of the Balancer Ecosystem or want to build on top of the Balancer Protocol, this is your chance! Get started by filling in the Grants Application form. You can also check out our RFP page for inspiration!
For further questions about how the Grants Program works, check out the grants page, follow us on Twitter, or send an email to grants@balancer.community.
