UwU Lend is thrilled to introduce sDAI as our newest market. With this new addition, we expand our accepted collaterals with another auto-compounding asset that can be leveraged or looped to enhance returns. Users are now able to deposit, borrow and loop sDAI on UwU Lend.
Market Overview
Users can now deposit their tokens on UwU Lend and earn interest in the form of sDAI and UwU tokens. The APY will vary based on the utilization of the pool. sDAI can also be used as collateral with a 77% LTV and a liquidation threshold of 80%. A 4.5% liquidation bonus goes to liquidators. Looping sDAI will allow users to further benefit from the attractive APR and auto-compound your yield with extremely high profit strategies.
Find the current interest rates on the Markets page of our dapp.
Asset Overview
sDAI is similar to the stablecoin DAI but with the added benefit of earning interest. Current sDAI offers 15% APY. sDAI allows users to deposit DAI to receive the yield generated by the Maker protocol while still being able to transfer, stake, lend and use it in any way you want.
“Swapping” between DAI and sDAI does not need to be done via a DEX but can be achieved by depositing and withdrawing from https://app.spark.fi/sdai/.
By depositing sDAI on UwU Lend, you can receive additional interest from borrow APY, use as collateral with high LTV and loop your sDAI for greater yield.
UwU Lend
We are excited to expand our platform with this new addition and are looking forward to releasing additional platform updates that are already in progress.
Stay tuned for an exciting 2024!
