Savvy DeFi operates by allowing users to deposit eligible base tokens, such as ETH, BTC, or stablecoins, to receive synthetic tokens known as svTokens. These svTokens can be utilized in various DeFi applications while the protocol auto-repays loans using the yield generated from the deposited assets. This unique structure eliminates the risk of liquidation and allows users to maintain exposure to their collateral.
Is Savvy DeFi a secure platform?
Yes, Savvy DeFi is designed with security in mind and has undergone audits by Halborn to ensure the integrity of its smart contracts. The protocol employs mechanisms to maintain over-collateralization and mitigate risks associated with collateral depeg and token volatility. However, as with any DeFi platform, users should be aware of inherent risks and conduct their own due diligence.
How to use Savvy DeFi?
To use Savvy DeFi, users first need to deposit their preferred base asset into the protocol. After depositing, they can borrow svTokens against their collateral, which provides immediate liquidity without interest payments. The borrowed amount is auto-repaid through the yield generated from the deposited assets, making it a seamless experience.
What services does Savvy DeFi offer?
Savvy DeFi offers a range of services including non-liquidating loans, auto-repaying credit lines, and yield generation through various partner protocols. Users can borrow against their deposits in svTokens while maintaining full control over their assets. Additionally, the platform incentivizes liquidity provision through its governance token, SVY, enhancing user engagement and rewards.
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