I’ve been playing with Savvi Finance on testnet for the past couple of weeks and I have to say, I’m impressed. For those who aren’t familiar, Savvi is a new DeFi platform that allows users to borrow against their assets in a flexible and convenient way.
What sets Savvi apart from other DeFi platforms is its use of synthetic tokens, known as svTokens. These tokens represent future yield equivalent to the borrowed amount, which allows users to access liquidity without having to sell their assets.
I was initially drawn to Savvi because of its user-friendly interface and the wide range of assets that can be used as collateral. I was able to deposit stablecoins, AVAX, and BTC into different yield strategies, which then allowed me to borrow svTokens in return.
One of the things I appreciate about Savvi is its focus on risk management. Users can only borrow up to a certain collateralization ratio, which helps to minimize the risk of liquidation. Additionally, Savvi offers the ability to self-liquidate at any time, which provides added flexibility for users.
Another aspect of Savvi that I find appealing is its commitment to fair governance. The platform is designed to gradually cede control to the community, with voting power measured by the SVY token. This means that users have a say in the future direction of the platform, which helps to ensure that it remains aligned with the needs and desires of its users.
It’s worth noting that Savvi is currently only running a testnet on Ethereum’s Goerli testnet, but the team has plans to launch on mainnet soon. In the meantime, I highly recommend checking out Savvi and giving it a try. The team has done an excellent job of creating a user-friendly and innovative platform that has the potential to disrupt traditional finance.
Another one of those AI generated Posts from a (hacked?) Throwaway which makes you Google and end up on a scam site.