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Swivel Finance
Swivel is the protocol for fixed-rate lending and tokenized cash-flows.
Distributed
Description
Swivel is the protocol for fixed-rate lending and tokenized cash-flows. Swivel v3 introduces the most capital efficient design for fixed-rate lending, leveraging the popular Yield and ZcToken standards to provide a familiar and accessible interface for all DeFi users. With Swivel, LPs provide liquidity to a single pool of capital from which lenders and borrowers can get fixed-rates for a predetermined period of time. Lenders deposit their yield-bearing tokens (e.g. aUSDC, cDAI) into Swivel's smart contracts, and in return receive nTokens (e.g. n-aUSDC, n-cDAI) which represent their principal, and can be traded or redeemed 1:1 for the underlying at maturity. Borrowers can then purchase the yield from these deposits at a fixed-rate, paying upfront for the right to the yield generated over a given period of time. This yield is then tokenized as ytTokens (e.g. yt-aUSDC, yt-cDAI) which can be traded or redeemed for the underlying's yield at maturity.Grant Funding
VC Funding
None
2020
2021
$0
$4.7M