DeFi protocols
A strategy uses 30+ protocols directly, reading their rates and moving money in and out on its paper book, with a live project's wallets following that book on chain. What there is, how it works, and what it costs.
Two ways to use a protocol#
- Name it. Import a protocol and use its real actions: supply, borrow and repay on Aave; deposit in a Morpho vault; buy a Pendle PT; sell a Derive option. Use this when you have a reason to be on that protocol: a rate you expect to move, or a carry between two.
- Route by asset. Say
earnand an asset, and ftw.trade puts the money where it earns most across every protocol that takes it, moving only when the gain beats the cost. See Lending, vaults and earn.
What there is#
| Kind | Protocols |
|---|---|
| Lending markets | Aave, Spark, Compound, Kamino, marginfi |
| Vaults | Morpho, Euler, Yearn, Fluid, Gearbox, Spark Savings, Sky, Ethena, Maple, Kamino Earn, Jupiter Lend, Jito |
| Fixed rates | Pendle |
| Options | Derive |
| Swap venues | Uniswap, KyberSwap, CoW Swap, Aerodrome, Jupiter, Metric |
| Launchpads | pump.fun, PumpSwap, Raydium LaunchLab, Virtuals, Zora, Clanker, Flap, Pons |
| Bridges | Relay, Circle CCTP |
| Privacy | Husher |
Developers → Modules has each one with its markets, how far back its history goes, the series to backtest it on, and a working example. Protocol vaults (Ethena sUSDe, Sky sUSDS, Morpho, Aave, Kamino, Maple and others) are also listed beside strategy vaults with their APR now and over 7 and 30 days.
How it works#
- A strategy imports the protocol in its
usesline and reads its rates:aave.supplyApy("base:usdc", interval). - It moves money in and out of its paper book for that protocol, which tracks interest, borrows and health factor.
- On a live project, each wallet is made to hold on the protocol's live markets what the book holds.
On real money#
Every protocol follows the book the same way:
- It pays from Robinhood Chain's ETH. The wallet's ETH is bridged through Relay into USDC on the market's chain, a little over what the book needs.
- It brings its own gas to the market's chain, and keeps rent on Solana.
- It skips moves under $5, which a bridge fee or gas would eat.
- It waits for bridges to land, and stops with the reason if one hasn't in two hours.
- It comes home on close out: withdraws, bridges back to ETH on Robinhood Chain and stops. Stopping alone leaves the money where it is.
Into a market and back out is two bridge fees plus gas. On $20 earning 5% a year that's more than a year's interest. A protocol strategy pays at a few hundred dollars and up, held for months, on Base or Arbitrum rather than Ethereum under a few thousand. Backtest with moveCost (about 1 on Base or Arbitrum, 5 on Ethereum) so the paper book pays it too.
Limits#
One lending market, one vault, one fixed-rate market and one options underlying per strategy, and earn can't be combined with a named protocol's book. A few protocols stay on paper books for now; the Modules page marks them.