Struct Finance

    An overview of Struct Finance, the DeFi protocol that enables structured financial products on Avalanche

    Struct Finance offers users a way to customize interest rate instruments and compose them with available options to construct superior financial products. Struct platform opens up the number of investment choices available, enables varying protection levels, and abstracts risk management and complex pricing away from its users while providing highly-competitive yields on various digital assets. You can check Author's tweet for a thorough introduction of Struct Finance and how it works.

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    Overview
    Vaults
    Tranches
    Leaderboard
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    Note: The Total Value Locked (TVL) was determined by considering the U.S. dollar worth of the transferred tokens (deposits/withdrawals/claims) at the time of the transaction. As withdrawals typically occur one or two months after the initial deposits, their USD value may vary due to fluctuations in the crypto market. The negative TVL values observed in January are a result of the withdrawn tokens having a higher USD value than the initially deposited amount, leading to a negative TVL. In essence, although there was a balance in the inflow and outflow of tokens, their respective USD values were not equivalent. The presentation of the TVL chart here is intended to depict the overall trend in the protocol's TVL changes, rather than providing an exact representation of the amounts involved. In other words, while the values are reasonably close to the actual amounts, they do not precisely reflect them.

    Markets
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    Struct primarily concentrated on GMX vaults in the initial months post-launch. However, from the beginning of 2024, all existing vaults transitioned to Trader Joe's autopools, encompassing 100% of the total value locked on the protocol. Looking back at the protocol's history, GMX vaults were four times more than Trader Joe's. Interestingly, despite their lower number, Trader Joe vaults managed to accumulate more deposits compared to the combined deposits in all GMX vaults.

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    The greater proportion of fixed tranches compared to variable tranches, particularly in the case of excess claims, indicates a prevailing user preference for a fixed APR, which comes with reduced associated risks.

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    Tokens
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    BTC.b and USDC have been the predominant assets in the majority of established vaults, particularly in the case of GMX. The introduction of Trader Joe's autopools has led WAVAX to gain a notable presence among the created tranches as well.

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