We’re pleased to announce the launch of the syrupUSDC / sDAI liquidity pool, now live on Balancer. The launch of the pool pairs a consistent source of high yield in DeFi, Syrup, with a de facto DeFi risk-free rate, Maker, providing a differentiated yield source for lenders. Launching the pool on Balancer, further, provides greater distribution and liquidity for syrupUSDC.

Click here to access to the pool.
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What is syrupUSDC

The syrupUSDC LP token represents USDC deposited into the Syrup protocol. SyrupUSDC  accrues yield from overcollateralised loans to qualified institutional borrowers. Meanwhile, sDAI (Savings DAI) accrues yield through the Dai Savings Rate: yield derived from DAI borrowing and lending activity as well as RWA yield.

Balancer is an automated market maker (AMM) that allows lenders to layer customisable liquidity pools upon it; in addition to hosting a diverse range of pools, the Balancer AMM provides immediate liquidity for swapping between ERC-20 tokens, with smart order routing providing the best prices across pools. Further, Balancer’s rate provider feature, which enables the pool to reflect the correct exchange rate of the yield bearing tokens, sets it apart from competitors.

Leveraging the Balancer AMM for syrupUSDC has distinct advantages: providing robust, secondary market liquidity for borrowers, providing syrupUSDC lenders with an additional, differentiated yield source, and enabling syrupUSDC to reach more DeFi users by enabling them to easily swap into the asset.
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How to deploy

One effective strategy to obtain simple diversification while earning competitive yield is to allocate a sum of USDC 50/50 between syrupUSDC and sDAI; subsequently, the lender can provide this liquidity pair to the Balancer pool. This creates a simple ‘barbell’ strategy in a few easy steps.

We’re excited for syrupUSDC to integrate more seamlessly into the wider DeFi ecosystem, acting as a portfolio diversifier, providing additional liquidity, and making yield from institutional lending more accessible to all.

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Disclaimer: syrup.fi is not available for US-based persons.

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