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Fluid Protocol
Fluid Protocol is a decentralized finance (DeFi) protocol for the Fuel ecosystem, enabling users to borrow the native stablecoin, USDF, at 0% interest by collateralizing various crypto assets. The platform also provides functionalities for earning through a Stability Pool, staking its native token (FPT), and swapping assets.
Distributed
Description
Fluid Protocol is an over-collateralized, decentralized borrowing platform built for the Fuel ecosystem, inspired by Liquity. It allows users to take out 0% interest-free loans by depositing collateral (such as FUEL, ETH, and various liquid staked ETH derivatives) to mint USDF, a native stablecoin soft-pegged to the US Dollar. The protocol differentiates itself by supporting multiple collateral types, implementing partial liquidations, and maintaining a fixed minimum collateral ratio of 135%. It is designed to be governance-free and censorship-resistant. Users interact with the protocol through 'Troves' (collateralized debt positions) and can also earn rewards through a Stability Pool and by staking the native FPT token. A one-time borrowing fee of 0.5% is charged on new liquidity, and a 1% fee is applied upon redemption. The protocol is secured by audits from OtterSec and has a bug bounty program with Immunefi. The project is backed by investors including Animoca Brands, CMS, and Stake Capital. The user interface is provided by Hydrogen Labs, Inc. to facilitate interaction with the on-chain smart contracts.Grant Funding
VC Funding
None
2024
$0
$3.9M