Today in DeFi - Sushi BentoBox Lending, CreamY Swap
Sushi BentoBox Lending
Sushiswap now has a new proposal, and itโs 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, itโs 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 wouldnโt 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 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.