Hello Arbinauts! We have a special announcement:
**Savvy DeFi is LIVE on Arbitrum!** Launch the app here.
Savvy grants users access to non-liquidating, auto-repaying, 0% interest loans. Users can borrow up to 50% of their collateral (initially USDC, WBTC, and WETH) as a synthetic credit line (svUSD, svBTC, svETH). Savvy requires no counter-party because the credit line is backed by the future yield of the collateral. For more information on Savvy, check out this overview.
Savvy is choosing Arbitrum for our initial deployments because of its user base, its network performance, its vibrant DeFi ecosystem, and strong community and support.
Meeting our Users — Ethereum is the crypto industry’s largest and most valuable smart contract platform. Over the past several months, the majority of Ethereum transactions have flowed into layer 2 blockchains like Arbitrum, zkSync, and Optimism.
By building on Arbitrum, Savvy is deploying where users’ funds are.
Network Performance — Arbitrum’s fast settlement times and low fees offer a great user experience. As builders, we strive to provide services that feel fast and responsive, so our users can maximize their capital efficiency. Furthermore, Arbitrum has a phenomenal track record as the top layer 2 in terms of total value locked, transactions per second, and transaction count.
Vibrant DeFi Ecosystem — Savvy is most powerful when it integrates with strong yield strategies and when leveraged by experienced DeFi users. Arbitrum has both strong yield strategies, with 400+ DeFi applications, and a DeFi-educated community unmatched by competing blockchains.
Community/ Support — In addition to the DeFi-native user-base, the Arbitrum community has been collaborative, supportive, and responsive. We quickly identified and integrated with teams building across the ecosystem, and the Arbitrum Foundation played a vital role facilitating those connections.
As our protocol develops and markets deepen, Savvy plans to become omnichain, with future plans to host a registry on the Avalanche C-Chain. We aim to bring non-liquidating, auto-repaying loans to all blockchains with sufficient liquidity, meeting our users where they are.
We’ve got a lot more to announce in the coming weeks… make sure to follow our socials to stay updated!