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Swivel Finance

Swivel Finance

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TVL: $4.6

Swivel Finance

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.
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Funding Rounds

Funding Round: Series A
Funding Date: 1 Oct, 2021
Raised Amount: $3.5M
Funding Round: Seed
Funding Date: 10 Dec, 2020
Raised Amount: $1.2M

Investors