Depositing and Withdrawing
What collaterals are accepted?
Savvy currently accepts USDC, USDT, DAI, ETH, and BTC, and their yield-bearing tokens.
| Deposit (Base token) | Borrow (svToken) |
|---|---|
DAI, USDC, USDT | svUSD |
ETH, WETH | svETH |
BTC, BTC.b, WBTC | svBTC |
| Deposit (Yield token) | Borrow (svToken) |
|---|---|
jUSDC, gmdUSDC | svUSD |
gmdETH | svETH |
gmdBTC | svBTC |
What are Strategies?
Savvy DeFi builds on top of existing protocols that provides ways for users to earn yield. Each integrated protocol is called a Strategy as they differ in the way they use funds to earn yield. Different Strategies have different risk-reward profiles based on market conditions.
Savvy DeFi chooses which strategies to integrate based on multiple factors including reliability, robustness, credibility, risk and expected yield. As the protocol matures, this choice will be gradually handed over to the Savvy DAO.
What are the current Strategies?
For a brief overview of each strategy, see our blog posts:
How are the yields determined?
Yields are determined by the open market and are subject to change. The Savvy protocol passes all yield rates to the users, minus a 10% fee. Savvy only takes fess when you earn yield.
You can see the details of yield calculations of each Strategy in their respective app.
What does it mean that a Strategy is full?
Savvy limits the "pool utilization" to lower the risk taken on by users in accordance with the Savvy DeFi Risk Framework. Deposit limits are the limits on the amount that each Strategy on Savvy protocol can hold. These limits vary by strategy and are based on multiple factors like total deposits under that strategy, liquidity in svToken pools, and market conditions.
What are my funds doing once deposited into a Strategy?
When a user deposits Base Tokens into a strategy via Savvy, the funds are first moved to the Savvy Position Manager contract, which then immediately deposits them into the selected strategy.
If a user deposits Yield Tokens into a strategy via Savvy, the funds are retained in the respective Savvy Position Manager contract.
The funds follow the same yield generation method as the selected strategy, with the added benefits of being able to take out self-repaying credit lines and receive increased yields due to the Savvy Booster and Deposit Incentives.
Why are my deposited funds slightly less than the amount I deposited?
Certain strategies, for example, GMD, charge a small deposit fee upfront that goes directly to the protocol, and Savvy does not receive any portion of this fee. When such a fee applies, it is displayed in the Deposit pane within the app. To help offset these fees, Savvy runs a Deposit Incentives program that compensates depositors through increased yields.
How do I withdraw?
To withdraw, go to the "Dashboard" section, select the supplied asset and strategy, and click on “Withdraw”. Select the amount to withdraw and submit the transaction.
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