Directory/Relend Network
Relend Network

Relend Network

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Relend Network

Relending Money Market Liquidity to L1s and L2s.

Relend Network

Building rUSDC instances for each L1/ L2. rUSDC is backed by lending market collateral and is redeemable 1:1 for USDC on Ethereum. Relend deploys rUSDC directly into money markets on partner chains, providing local and global price stability modules for redemptions. This model offers a seamless way for users to interact with stable assets across different chains with confidence in backing and liquidity.

Deploying a CDP-based stablecoin instance on each chain is appealing because it:

  • Facilitates liquidity for money markets by ensuring that each L2 has a native CDP stablecoin, which increases capital efficiency.
  • Enhances total value locked (TVL) within lending protocols, boosting market efficiency and the overall adoption of decentralized finance.
  • Reduces reliance on cross-chain liquidity mechanisms, leading to a more robust and secure ecosystem.
  • Tailored collateral assets for each ecosystem allow the stablecoin to support specific credit needs.

The two conventional approaches to multi-chain stablecoins come with significant trade-offs:

  1. Unified Stablecoin Across All Chains: Deploying the same stablecoin on all chains provides a seamless experience, but if one L2 network collapses, it jeopardizes the entire stablecoin system. The contagion effect makes it a high-risk approach. Providing credit at scale to multiple L2s is inefficient, as risk to the entire system increases proportionally.
  2. Isolated Stablecoin Instances Per Chain: This method ensures that a failure in one L2 does not impact the others. However, it also means that the success of one instance does not enhance the stability of other L2 stablecoins, limiting liquidity and network effects.

Relend Network introduces a hybrid approach that captures the benefits of both models while mitigating their risks.

Partner Benefits:

  • Low-cost TVL starting for local money markets
  • 1:1 redemptions to USDC on mainnet
  • Increased liquidity for all DeFi primitives
  • Scalable credit supply

Use Cases

rUSDC-swell

Relend Network launched an rUSDC instance for Swellchain, unlocking a range of new DeFi opportunities with a deployment of $5M rUSDC into Euler Finance, the leading money market on Swellchain. This was the first stablecoin money market on Swellchain, providing stablecoin liquidity for Swell DeFi users to effectively leverage their assets and engage with Swell dApps. Liquidity pools have been set up on Velodrome, with SWELL rewards as part of Swellchain's Wavedrops campaign to boost adoption. DEX and money market liquidity are core drivers of stablecoin adoption. We will continue working with the Swell team to integrate more applications, increasing adoption of rUSDC across Swellchain. rUSDC is currently the leading stablecoin by TVL on Swell and well-positioned to establish its position as the go-to stablecoin on Swellchain. Learn more here: https://x.com/relend_network/status/1915353198665023860

rUSDC-stark

Relend Network launched an rUSDC instance for Starknet, unlocking a range of new DeFi opportunities with a deployment of $15M rUSDC into Vesu, the leading money market on Starknet. This increased Starknet's TVL by 15% and boosted stablecoin money market supply by over 100%, providing stablecoin liquidity for Starknet DeFi users to leverage their assets and engage with Starknet dApps. Liquidity pools have been set up on Ekubo, with STRK rewards live as part of Starknet's DeFi Spring program to boost adoption. DEX and money market liquidity are core drivers of stablecoin adoption. We will continue working with the Starknet team to integrate more applications, increasing the adoption of rUSDC across Starknet. rUSDC is one of the leading stablecoins by TVL on Starknet and is well-positioned to establish its position as the go-to stablecoin on Starknet due to an abundance of money market liquidity. Learn more here: https://x.com/relend_network/status/1903052892052848930

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