Sumer Money: Capitalizing suUSD-USDC Rewards on Aerodrome
Sumerians, we are excited with the launch of Sumer Money on Base!
Sumer Money — Creating a Fungible Liquidity Layer
Sumer is a Cross-chain Synthetic Assets Money Market Protocol, deployed simultaneously on a network of supported chains.
As a DeFi user, you can deposit your assets (ETH, BTC, USDC, USDT etc.) on the native blockchain in the lending and borrowing market to mint synthetic assets (SuUSD, SuETH, SuBTC) that are fungible across the network of all supported blockchains.
Fundamentally, Sumer core is a risk engine that intelligently matches the users’ assets and liabilities based on asset correlations.
We put ETH derivative LSTs and ETH in the same asset group. This homogeneous grouping allows them to create synthetic ETH (suETH) and borrow against each other at a much higher collateral ratio. It is essentially a “stable swaps’’ build for lending protocols.
With the help of these synthetics tokens (suUSD, suETH), Sumer enables a fungible multichain layer on top of the native tokens, LSTs, RSTs and yield bearing stablecoins. Thus, improving the cross chain composability and providing additional yield opportunities for the users without relinquishing their existing position (e.g. Deposit wstETH as collateral to mint suETH, Create wstETH/suETH pair on stable swaps for yield farming).
Sumer adds more utility, capital efficiency and stickiness to native tokens, LSTs, RSTs and yield bearing stablecoins.
Incentivized suUSD-USDC Pair on Aerodrome
Thanks to the bribes added to the veAERO voters, suUSD-USDC pair garnered an astounding 4.8 Million veAERO votes in its first epoch. The resulting AERO emissions have already helped build suUSD-USDC pair liquidity at a faster than anticipated pace.
The suUSD-USDC liquidity currently stands at 441K USD with 143.19% APR
Capitalizing suUSD-USDC Rewards on Aerodrome
With the high APR of 143% for a non-impermanent loss pool, there is still a lot more TVL potential with the current AERO emissions. DeFI users new to the Sumer ecosystem can refer the below guide to capitalize on the boosted rewards.
The process is very intuitive and easy even for new DeFI users.
Step 1: Deposit USDC on app.sumer.money on Base Network
Step 2: Mint suUSD on app.sumer.money on Base Network
Step 3: Add Liquidity to suUSD-USDC Pair on Aerodrome
And that’s it!
Enjoy the boosted rewards as Sumer continues to incentivize liquidity on Aerodrome in the foreseeable future!
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