Unleash Your Borrowing Potential with Savvy: The Billionaire's Protocol
Written on: March 25, 2023
Savvy DeFi is an innovative platform that operates natively on the Avalanche blockchain, enabling users to earn, borrow, spend, and invest simultaneously. Unlike traditional lending platforms, Savvy DeFi offers non-liquidating and auto-repaying advances on users' crypto tokens, enabling them to access immediate capital without forfeiting ownership of their collateral. This is made possible through permissionless, multi-collateral synthetic primitives known as svTokens. By leveraging svTokens, users can optimize their investments, generate liquidity, and revolutionize liquidity management on the Avalanche blockchain. With Savvy DeFi, users can safely leverage their crypto assets to become more savvy investors, borrowers, or traders, all while remaining liquidation risk-free and freeing up their crypto to work for them. Savvy DeFi empowers borrowers to unlock their opportunity cost and borrow like billionaires.
What is Savvy Protocol?
Savvy DeFi is a protocol that lets you borrow money against your cryptocurrency through a synthetic credit line. Unlike other Collateralized Debt Positions, Savvy eliminates the risk of liquidation by offering a repayment model that allows borrowers to repay their debt with either their original collateral or Savvy synthetic tokens.
To use Savvy DeFi, you deposit your collateral, choose a yield-bearing strategy, and then mint a svToken line of credit up to 50% of your collateral's value. The deposited collateral generates yield, which is attributed to the loan balance, effectively paying off the loan over time. You can also leave your deposit in a yield strategy, repay your debt early using the base token or svToken, or self-liquidate the line using a portion of the collateral.
Savvy DeFi exists to make financial strategies accessible to everyone, regardless of their credit history or access to traditional financial systems. With Savvy, you can borrow money in a non-liquidating, auto-repaying way and optimize your financial habits. Savvy enhances the DeFi ecosystem by allowing easy participation in various apps and services, such as lending, staking, and yield farming.
SVY Tokens' Utility Explained
The SVY token is an essential component of Savvy DeFi's ecosystem. It has a maximum supply of 10,000,000 and will be distributed over six years without pre-seed or private sales. SVY is required to access non-liquidating credit lines and use Savvy's smart contracts. The token can also be staked using a VE model.
The Savvy DAO is responsible for ensuring the ecosystem's health and fostering community participation. It enables transparent, decentralized decision-making, allowing anyone to participate by following the organization's rules.
Savvy team comprises individuals from diverse backgrounds in banking, entrepreneurship, engineering, marketing, organizational behavior, and product development. We have worked with some of the world's largest companies, including JPMorgan, Google, Microsoft, X-Box, CERN, and Unilever. Savvy team are passionate about creating innovative financial and social tools that can make the world a better place, and we are committed to bringing Savvy to life.
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