Summary
This proposal seeks to deploy Sturdy V2 on X Layer and whitelist one silo on the Sturdy UI.
We have been long time admirers of sturdy ever since their FTM launch and are extremely excited to offer Sturdy V2 to our 50m user base which we plan to onboard to ethereum via our zkEVM Layer 2 ‘X layer’. We propose to start with 1 silo on the sturdy front end and will continuously assist the team in identifying and creating new silo’s including several interest bearing ones that would have a good product market fit to meet the current DeFi landscape and user demand. Sturdy adds a huge level of composability on top of X Layers DeFi ecosystem and we are excited for what is to come.
About X Layer
X Layer is a zkEVM Layer 2 network built on Ethereum, powered by Polygon CDK
- a zkEVM stack for building Ethereum L2 scaling solutions. Developers can easily deploy their existing contracts on zkEVM, and users can move their assets from Ethereum and conduct transactions off-chain. These transactions are bundled into groups with a zero-knowledge proof to verify their validity.
Why Build on X Layer?
Boundless scalability: enable ZK-powered DApps on X Layer, with 100% EVM compatibility and easy-to-use developer tools for deployment
Powered by OKX: seamless OKX product integrations, all-in-one Web3 gateway, and access to 50M+ users in the OKX ecosystem
Security: rely on robust secure mechanisms from Ethereum, with trustless interoperability
Low fee: same coding experience as Ethereum, with 100x less in costs
Portal to Web3: enter the world of Web3 via OKX Wallet, built with compact infrastructure modules to create innovative DApps
Powered by Polygon: zkEVM Layer 2 based on Polygon CDK, ensuring near-instant finality, unified liquidity, and independent data availability
Silos:
ezETH Silo
Lending/borrowing asset: WETH
Collateral Asset: ezETH
LTV: 90% LTV
Liquidation Fee: 3%