Today in DeFi - Sushi BentoBox Lending, CreamY Swap

𝕯𝖆𝖓𝖌𝖊𝖗

Sep 25, 2020

Sushi BentoBox Lending

BoringCrypto @Boring_Crypto

My next project, better lending solution for DeFi:

medium.comThe BentoBox lending solutionPlatforms like Compound and Aave allow users to deposit assets as collateral and borrow other assets against this. These protocols have attracted billions of dollars, but they suffer from some major…

Sushiswap now has a new proposal, and it’s much more than a parameter change or new incentivized pool. BentoBox is a full fledged lending platform which features:

Isolated lending pairs. Anyone can create a pair, it’s up to users which pairs they find safe enough. Risk is isolated to just that pair.
Flexible oracles, both on-chain and off-chain.
Liquid interest rates based on a specific target utilization, such as 75%.
Contracts optimized for low gas.
The supplied assets can be used for flash loans, providing extra revenue for suppliers.

This wouldn’t just be an extension to Sushiswap but an entirely new lending platform design. If approved, this would make Sushiswap more than a single product, but more a suite of products, similar to CREAM Finance.
See the approval - active for voting - here.

Synthetix on Optimism Testnet

Synthetix ⚔️ @synthetix_io

Synthetix is now live on the Optimistic Ethereum L2 testnet, the Layer 2 scalability solution from the @optimismPBC team! 1/

blog.synthetix.ioStake SNX on the Optimistic Ethereum L2 testnet!Synthetix is now live on the Optimistic Ethereum L2 testnet!

Synthetix is now on Optimism Testnet. Optimism is an Ethereum Layer 2 Optimistic Rollup solution, which just went live today. Uniswap is also planning to be on Optimism, which means it should be compatible with Synthetix in the future.
This is only testnet, not mainnet, but it is a big step forward for DeFi Layer 2 scaling.

CreamY Swap

CreamY, the new yield-aware AMM on Cream Finance, is live. Check it out at cream.finance or read about it here. CreamY is built with the advice of Andre Cronje. You can read more about its unique benefits and design principles here.

Disclaimer: Projects or tokens mentioned in this newsletter are often in experimental or unaudited stage. Do your own diligence before buying or interacting with them.