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Introduction
Sumer Protocols money market is a Compound-inspired lending and borrowing protocol that enables;
- 1.Deposit of Native Assets or their equivalent (USDC, USDT, WBTC, ETH, BNB, BUSD)
- 2.Minting of SuTokens (SuUSD, SuETH, SuBTC, etc.) against the deposited native assets (USDC, USDT, ETH, WBTC, BNB, BUSD)
- 3.Borrowing native assets (USDC, USDT, ETH, WBTC, BNB, BUSD) against deposited native assets (USDC, USDT, ETH, WBTC, BNB, BUSD)
- 4.Borrowing native assets (USDC, USDT, ETH, WBTC, BNB, BUSD) against deposited SuTokens (SuUSD, SuETH, SuBTC, etc.)
- 5.Repayment of borrowed assets
- 6.Liquidation
The deposited native assets source their deposit yields from users/ DAOs/ dApps borrowing the assets. While the protocol can accept any type of cryptocurrency as collateral, the initial deployment of the Sumer Protocol will mainly accept on-chain stablecoins and blue-chip assets (ETH, BTC, BNB, etc.) as collateral to smoothen out volatility in the collateral to reduce the risk exposure of the protocol.