Struct in 2024: The Year of the Bull
The bull market is back!
As chart candles break up all over the place, we take a moment to recap what has happened for Struct Finance in 2024 so far.
Although only two months have passed, so much has already happened, and we are proud to share our main accomplishments with you.
This article is our 2024 update, sharing more information on the milestones we have already achieved, our Struct Inscriptions, and what we have in store for the rest of the year.
On Milestones and Vaults
We are incredibly excited to witness the success of our products: Struct Finance has reached over $10m in TVL during February and currently has over $9.4m in TVL.
This goes a long way toward demonstrating the relevance of tailored yields through tranching and how they can better reflect our users’ individual risk preferences.
From our initial USDC vaults to the introduction of BTC.B and our Autopool Vaults, Struct Finance is constantly at work to build on top of the best yield-bearing products on Avalanche.
To date, we’ve launched over 82 Vaults, of which 21 are Autopool Vaults in Collaboration with Trader Joe, reaching a total of over 2255 depositors.
We’ve been in full build mode since our inception, and showed our resilience during one of the hardest periods of crypto history.
Now that the tide is turning, we are excited about how we can help users navigate yields in a bull market!
The Avalanche Rush Incentive Program
One of our first achievements of 2024 was our inclusion in the Avalanche Rush program, an incentive program to encourage the growth of Avalanche-native protocols that have made remarkable contributions to the ecosystem.
As part of this program, our protocol has received up to $1m in AVAX, certainly a target to celebrate. This milestone solidifies our close collaboration with the Avax Foundation and our role within the Avalanche ecosystem.
This also confirms the value-added roles played by Struct Finance:
- Boosting the liquidity of underlying yield-bearing assets on Avax;
- Allowing users to access different yields according to their risk preferences;
While these products are usually available only to institutional investors, Struct Finance makes them available to anyone on Avalanche.
The Avalanche Rush incentives have been deployed in our Auto-Pool integration with Trader Joe. We have decided to use them to provide a buffer for users investing in the variable side of our AVAX and BTC.B Auto-Pool vaults.
The variable side of our vaults can be considered similar to leveraged yield. It targets investors with a higher propensity for risk and are willing to take a bigger risk for higher returns.
According to the vault’s performance, the Rush Incentives will either help absorb Impermanent Loss or boost the pool’s APR.
On Struct Inscriptions
Aside from continuous product development, we’ve also dipped our toes in other areas.
One of our most exciting explorations is about Avascriptions.
The success of Ordinals on Bitcoin has pushed our team to dive more into Inscriptions, a mechanism to foster community engagement and loyalty.
As part of this effort, we have partnered with Avascriptions, the main inscription platform on Avax, with a volume of over 2.1 AVAX ($94m USD).
Avascriptions is the premier marketplace for deploying, transferring, and trading ASC-20 inscriptions, playing a key role in decentralizing inscription indexing.
Thanks to this partnership, we were able to deploy the STRC inscriptions, which launched on Friday, February 25th, with a Fair Launch.
All of our 8,888,888 inscriptions were minted to over 8294 participants in our fair launch.
We chose to mint using a Fair Launch to allow everyone to participate, get their own Inscriptions, and participate in the success of Struct Finance.
Struct Inscriptions stand out because they are backed by Struct Finance, a top DeFi protocol on Avalanche, and thus provide holders with benefits beyond simply holding them.
Holders of Struct Inscriptions will enjoy several perks, including eligibility in the upcoming Struct airdrop and better positioning on our Struct Leaderboards.
Users who did not manage to participate in the mint can acquire Struct Inscriptions on the secondary market on Avascriptions.
What’s next?
The incredible success of our product only comes from one thing: our community.
Throughout our growth, we always prioritized product development that would apply to any market condition and individual risk preferences.
By staying in tune with our users, we have continuously incorporated feedback and iterated our products to find their sweet spot and maximize their utility.
Our future developments will continue to reflect this, with the final vision to expand our product offering by tranching any yield-bearing assets on DeFi.
What’s coming next? Struct is planning to develop a whole new L1 DeFi ecosystem on an Avalanche Subnet.
Within this process, our token generation event will be instrumental in creating a new mechanism design that aligns our tokenomics with our future success.
Stay tuned for more information about our airdrop.
Make sure to follow Struct Finance and have notifications on!
The returns from our efforts are compounding up quickly, just like our milestones and achievements.
We are extremely thankful to our community for their efforts and support.
This is only the beginning, we have so much more in store for the rest of 2024.
