Live on Ethereum: IPOR’s stETH Stake Rate Swap
The IPOR Protocol’s first Stake Rate Swap product enables hedging, speculation, and arbitrage on Lido’s risk-free rate with up to 500x leverage. TradFi capital efficiency.
After the thorough architectural overhaul introduced by the v2 update in October, the IPOR Protocol is now expanding its utility to DeFi natives and institutions beyond stablecoin rate products.
A plain vanilla stake rate swap for the leading liquid staking derivative — Lido’s stETH — is now available at app.ipor.io.
🔶 SRS For Traders
🔹 Capital Efficiency and Leverage
Like any derivative instrument, a Stake Rate Swap (SRS) enables market participants to hedge, speculate, or arbitrage. Some major advantages that make interest rate swaps a $450+ trillion asset class are:
- For DeFi degens ➡️ leverage
- For TradFi natives ➡️ capital efficiency
Up to 500x leverage is currently available for SRS at app.ipor.io.
Watch this short video walkthrough on opening a stETH SRS:
🔹 Swap Duration / Tenors
The IPOR stETH SRS are currently available for three different tenors (contract durations): 28, 60, and 90 days. Tenors are flexible and rolling and can be taken anytime based on real-time tracking of Lido staking rewards data on-chain.
🔹 Addressable Market Size and Participants
IPOR’s SRS product also enables a broader range of users to open positions or provide liquidity than yield stripping, a popular approach to fixing staking rates on-chain. Anyone holding the native asset — stETH, wstETH, wETH, and ETH can become a liquidity provider or an SRS trader.
Institutions are coming, and they’ll be trading SRS.
🔶 SRS For Liquidity Providers
stETH pool participants that enable the underwriting of swaps can now enjoy additional sources of yield — trading fees and P&L (SOAP). Supported assets include stETH, wETH, and ETH with zapping-in the most time and gas-efficient depositing method.
Note: IPOR stETH swaps are underwritten, accounted for, and paid out in stETH. If a swap is opened with ETH or wETH the payoff will be in stETH.
🔹 Fully Audited Code
The SRS code code was thoroughly audited by Ackee Blockchain. The report can be found in the IPOR Docs.
Trade stETH Stake Rate Swaps or earn yield at app.ipor.io.
To learn more about the utility, trading, and tech aspects of IPOR’s Stake Rate Swaps, consider these insightful pieces by IPOR Labs team members.
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