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Welcome to Strudel: The Guide

Overview

Strudel Finance is the first and only one-way, trustless bridging protocol linking Bitcoin (BTC), Bitcoin Cash (BCH), and future assets to the expanding DeFi landscape. Powered by the governance token, Strudel Token (TRDL), Strudel allows BTC, BCH, and other assets to be utilized in the Ethereum and Polygon ecosystems to reap the benefits of liquidity mining, cross-chain arbitrage, and index funds with a goal to incorporate lending and collateralization in the near future.

By eliminating the need for custodial control of assets with typical wrappers, Strudel’s trustless protocol trades off counterparty risk for market risk while using market dynamics, crypto-economic incentives and cross-chain capabilities to maintain a pegged, scalable, and capital-efficient ecosystem. This one-of-a-kind economic approach offers average users and big money investors alike numerous options for monetary growth and grants more diversity and security to DeFi.

Recent Updates

This section will be updated regularly to provide a resource for users to learn about recent Strudel developments. Keep this page bookmarked, follow our Medium page, and follow the official Strudel Telegram group to stay on top of the news. More to come soon!

Notes: Medium articles linked in titles. Newest updates are listed first.

  • The Strudel "Nameless" Fund
    • Like our current index funds (Mare Imbrium Fund, Strudel NFT Index Fund), the new "Nameless" Fund is an auto-rebalancing Balancer smart pool. The Nameless Fund currently features four assets with a weight of 25% each; TRDL, vBTC, Strudel NFT Index BPT tokens, and DeFi Pulse Index (DPI) tokens While you cannot stake for incentives at this point in time, we will be launching this feature soon.
  • Strudel R&D Update: The NFT Edition
    • The Strudel NFT Index has just been launched as the newest addition to the growing line of Strudel utilities. We have created and added liquidity to a Balancer pool that auto-rebalances to hold even amounts (25%) of vBTC and the fractionalized versions of $PUNK, $BAYC, and $COOL. Furthermore, a Strudel NFT Index yield farm on Strudel Farms has been created to further increase the incentive for providing liquidity to the index. The current rate is set at 9.09% of TRDL rewards (at base rate: ~545.4 TRDL/day)
  • Strudel R&D Update: Uniswap v3 liquidity mining incentives for wBTC-vBTC are here!
    • Covenants has come out with general-purpose farming contracts for Uni V3. Their implementation has several unique features which will be of service for our protocol’s use case. Through Covenants, we will be issuing 1000 TRDL per day for the next 30 days for the vBTC-wBTC Uni V3 pool as our first farming schedule.
    • vBTC-wBTC Covenants/Uni v3 pool and farm
  • Strudel's Mare Imbrium Fund: The Guide
    • A complete introduction and guide to the new Mare Imbrium Fund, a low-risk, high-reward, self-supporting, auto-balancing Balancer smart pool. The Mare Fund is composed of all Strudel assets, vBTC, vBCH, and TRDL, a stablecoin in oneVBTC, deflationary TWA/ETH LP tokens, and wETH.
  • Strudel Update: Perfectly Balanced… as All Things Should Be
  • Strudel Liquidity Incentive Revision (SLIR)
    • Update: Phase 1.1 of the Strudel Liquidity Incentive Revision was activated on May 20th, 2021. Phase 2.0 will be activated in Q3.
  • Strudel Funding Proposal
    • Update: The Strudel Funding Proposal passed and minting of 250,000 TRDL was performed on June 17, 2021.

Current Strudel Assets

Strudel Bitcoin (vBTC)

The first engine to Strudel, Strudel Bitcoin (vBTC), is minted at 1:1 (plus Strudel Token incentives) when Bitcoin (BTC) is bridged in a 100% trustless manner through the Strudel protocol to Ethereum. vBTC can also be swapped just like any other token on Ethereum and now can be traded and pooled on Polygon (Matic) as well. Currently multiple incentivized pools and funds exist for vBTC on both Ethereum and Polygon (see below). Plans for the ability to lend and collateralize vBTC will also be implemented in the near future, making it an even more valuable and relevant asset to own in this dawning age of decentralized finance. The archaic strategy of holding Bitcoin without a way to make capital work for the holder is a thing of the past. vBTC allows holders to make their capital work for them. By combining the benefits of Bitcoin with the benefits of decentralization, and while doing so in a uniquely secure and trustless manner, vBTC can be thought of as "Bitcoin with benefits".

Strudel Bitcoin Cash (vBCH)

The second engine to Strudel, Strudel Bitcoin Cash (vBCH), is minted at 1:1 when Bitcoin Cash (BCH) is bridged through the Strudel protocol to Binance Smart Chain (BSC). This L2 solution provides dramatically improved gas fees for claiming bridged tokens as well as Strudel Token (TRDL) incentives for early adopters. This solution will eventually be incorporated on all prior and future Strudel bridges. Furthermore, a native BSC-ETH bridge has recently been implemented to bring minted vBCH and TRDL back to Ethereum where they can be reap the benefits of decentralization. This BSC-ETH bridge is another checkmark for Strudel’s goals to expand cross-chain for interoperability, a fantastic utility in its own right. This application allows for investors to bridge funds on ETH to BSC through vBCH and TRDL, and vice versa. Recently developed pools/funds have allowed for investment of vBCH on Ethereum, and its utility will continue to expand on Ethereum and other blockchains. Think of vBCH as "Bitcoin Cash with benefits".

Strudel Token (TRDL):
The gas to vBTC/vBCH’s engines, The Strudel Token (TRDL or $TRDL) serves as the governance token for the Strudel protocol as well as an incentive for using the Strudel bridges and providing liquidity. Furthermore, TRDL can also be pooled on various protocols with economic incentives, including Strudel's Terra-Farms, allowing users to compound earnings. As Strudel continues to expand cross-chain, the TRDL is now available on Ethereum, Polygon, and Binance Smart Chain with plans to further increase utility and liquidity in the near future.

Strudel has recently adopted a revolutionized governance system where TRDL is used to give the community a voice in instituting changes to the protocol. We are open to feedback and eager to have community members have a more active role in Strudel's development. Beyond the utility of governance, TRDL lockups inherent in the governance system will lower circulating supply and add holding incentive, naturally leading to an increased TRDL value. Furthermore, TRDL incentives are provided for those who choose to lock their tokens for use in governance. These will be automatically distributed when unlocking. The Return on Investment (ROI) for governance lockups is a function of the number of weeks users choose to lock up their tokens, ranging from 1-52 weeks, and the size of the stake. The interest gained on TRDL deposits starts at 10% for a 100 TRDL deposit for 52 weeks and tapers down as the amount staked increases. This ensures we can guarantee a fixed rate to all users who wish to be more involved with the TRDL community.

Strudel Governance Portal

Mare Imbrium Fund index token (Mare)

The Mare Imbrium Fund is a Balancer smart pool with six assets weighted at 16.67% each. This fund includes three Strudel assets, the deflationary TWA token, ETH, and a stablecoin. The assets represented by the Mare token (with main liquidity sources linked) are as follows:

Note: Since TWA/ETH LP tokens are one of the six assets in the Mare Fund, you could also say that ETH makes up 25% of the index and TWA makes up 8.34%.

The Mare Imbrium Fund is a highly undervalued and low-risk index fund that gives exposure to the Strudel ecosystem while also being supported with ETH, a stablecoin, and the deflationary TWA token. Investment of one asset (single-sided liquidity) provides demand for the other five tokens through arbitrage rebalancing inherent in these types of smart pools.

Complete information regarding the Mare Imbrium Fund can be found in the Mare Imbrium Fund Guide here.

Grumpy Sat (gSAT)

To add a little spice to the Strudel protocol, but not at the expense of utility, Grumpy Sat (gSAT) has just launched as the first "meme coin" backed by actual value. Strudel has deployed a two-way wrapper on Polygon (Matic) that converts Strudel Bitcoin (vBTC) to gSAT via the “purr function” and back, via the “snarl” function. Each gSAT is always backed by 1 satoshi of vBTC (a Strudel Satoshi, if you will). Because gSAT is backed by actual value (vBTC), and because vBTC exists on Ethereum and Matic with price differences and utility of its own, gSAT provides ample opportunity for monetary gains through arbitrage, Bitcoin exposure, and the benefits of decentralization. Because gSAT is backed by actual value, the risk is decreased substantially. The downside risk is the price of Strudel Bitcoin because holders can always redeem gSAT for the same rate it was minted. The upside is gSAT holders will also get the benefit of being part of contests, drawings, and presales organized by the Nerd DAO, providing utility and opportunity for price appreciation for gSAT on its own. Grumpy Sat is a meme coin on steroids.

Grumpy Sat Medium article.

Bridges

Native Strudel One-way Bridges

Bridge centralized assets to DeFi here.

Two-way Bridges

Move your Strudel assets between networks using these bridges:

Grumpy Sat Wrapper

Governance

Update 7/1/2021 : Governance

A recently implemented single-stake option, users can now lock TRDL for 1–52 weeks (you choose) and receive a proportional number of gTRDL for use in governance. All gTRDL holders can submit and vote on Strudel proposals which serve to improve and market the protocol. This includes market policies (supported assets, pool allocations, halving, etc) as well as protocol policies (general rules, allocation of marketing funds, what bridges to implement next, etc). At the end of the lock period, the original deposit of TRDL can be unlocked and a TRDL reward will be automatically distributed to holders. The interest gained on TRDL deposits starts at 10% for a 100 TRDL deposit for 52 weeks and tapers down as the amount staked increases. This ensures we can guarantee a fixed rate to all users who wish to be more involved with the TRDL community.

Strudel Asset Information

Current Strudel assets, their blockchains, and their corresponding exchanges can be found in the following links. Trading and pooling links can also be found within as well.

Ethereum

Matic

Binance Smart Chain (BSC)

  • Coming soon

Charts

Ethereum

Matic

Binance Smart Chain (BSC)

  • Coming soon

Liquidity Pools

Numerous pools exist for Strudel users, several of which are brand new and have low liquidity. This will change. Currently incentivized pools (yield farms) are listed in bold and their corresponding yield farms are listed in the yield farms section below. Acquire LP tokens at the following links:

Ethereum

Zerion allows for trading single assets into LP tokens and combining assets into LP tokens in one transaction. This improves ease of use, adds efficiency, and decreases gas fees. Highly recommended!

Polygon (Matic)

All these Comethswap pools are currently incentivized through their liquidity mining program here. All these yield farms yield both TRDL and MUST (check current rates). These programs change weekly, so I'll try and keep this updated the best I can.

Binance Smart Chain (BSC)

  • Coming soon

Liquidity Mining (Yield Farms)

Multiple high APY farms exist for Strudel assets on various protocols. Deposit your LP/SLP tokens to generate passive income in various forms at the following links.

Ethereum

Current Strudel Terra-Farms TRDL allocation is conducted in accordance with Phase 1.1 as of May 20th, 2021.

Polygon (Matic)

Binance Smart Chain (BSC)

  • Coming soon

Strudel liquidity incentives and yield farms often change. Please stay in touch with the happenings in the official Strudel Telegram group and our Medium page.

Minting OneVBTC

You can either swap for oneVBTC or you also have the option to mint your own oneVBTC on Ichi.farm. To mint one oneVBTC, it requires $1 with a ratio of 98.2% USDC and 1.8% vBTC at the time of writing. This value fluctuates. A few key points:

  1. vBTC funds used for minting accrue in a vBTC treasury for later use by the Strudel team.
  2. oneVBTC is used for pairings in two high APY farms, one on Ichi.farm, and the other on Strudel.finance.
  3. A single oneVBTC is ALWAYS and ONLY redeemable for $1 USDC on the Ichi protocol, but can be swapped on Sushiswap for whatever the current price is. This fluctuates above and below $1.
  4. Because of #3, it's worth your time to evaluate whether minting or swapping oneVBTC is the most cost-efficient option. In general, if oneVBTC is below $1, swap for oneVBTC. If oneVBTC is above $1, mint it. This is because it always only costs $1 to mint a single oneVBTC.
  5. Take price impact and gas prices into account when making your decision to mint or swap.
  6. This can be confusing, so please ask in the chat or DM a team member if you have any questions.

Current Partners

Please have a look at the following helpful links to see why Strudel is a unique, significant, and profitable protocol within the DeFi ecosystem and learn how to get involved. Please ask any questions you may have in our Telegram group or DM @HisDudeness47. We love to help and we love feedback.

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**Strudel's Mare Imbrium Fund: The Guide**

Mare Imbrium, one of the largest craters in the solar system! Quick Links Mare Imbrium Fund Balancer pool Mare LP token staking on Strudel Farms Mare Fund Etherscan Strudel Finance now has an indexed Balancer pool for all their ecosystem's liquidity, but what IS a Balancer pool? Balancer is an automated portfolio manager, liquidity provider, and price sensor. Balancer pools turn the concept of an index fund on its head. Instead of paying fees to portfolio managers to rebalance your portfolio, you collect fees from traders, who rebalance the fund by following arbitrage opportunities.

Jul 24, 2021
Strudel Update: Perfectly Balanced... as All Things Should Be

Since implementing phase 1.1 of the SLIR proposal we have been getting questions from the community about the rationale of pursuing the Balancer pool and what it means for the project as a whole. After gathering some data in the past few weeks we wanted to use this post to explain the finer points of our economic policy at the Strudel protocol. Strudel Macro View: Reduce the Float! One of the issues we found when we took over the project in February was that the Strudel Token (TRDL) had a lot of floating supply, meaning that there were a lot more tokens in wallets than in the liquidity pools or staking contracts. Having a high float causes alot of selling pressure and volatility which can be detrimental to a project's growth. To address this we took a three-pronged approach. First, we built the gTRDL staking contract, which pays interest to users who deposit their TRDL to be able to participate in governance activities. The second intervention consisted of creating more cross-chain opportunities, which incentivized users to take TRDL off mainnet. We are on our third week of incentives at Cometh.io in Polygon and are looking to expand that program and other opportunities. Finally, we created the Mare Imbrium Fund, which allows users to deposit their TRDL single sided and bring demand to the rest of the protocol's tokens. The Outcomes With the measures described we have managed to drastically reduce the floating supply. Currently nearly 50% of the supply is either in a long-term staking setup on gTRDL or collateralized by liquidity in our different programs (see picture below). We hope that over time the % will increase to a greater steady state. We are still offering gas refunds for those who wish to add liquidity to the Mare fund. DM an admin with your "Execute" transaction id numbers.

Jun 8, 2021
**Strudel Community AMA 4/19/2021**

His Dudeness | $vBTC $TRDL $NERD, [19.04.21 12:03] Alright, alright, alright, welcome everybody to the Main Event. THEE one and only April 19, 2021 Community AMA His Dudeness | $vBTC $TRDL $NERD, [19.04.21 12:04] We can jump right into the first question as a great way to start. Q: ELI-5 everything that’s going on with Strudel His Dudeness | $vBTC $TRDL $NERD, [19.04.21 12:04] That's a loaded Q

May 28, 2021
**How to Enter the Strudel - The Bitcoin Cash Edition**

Download the Bitcoin.com wallet. Android link Apple link Purchase Bitcoin Cash using the Bitcoin.com app or your preferred on-ramp (Coinbase.com, Crypto.com app, etc.). If you purchased BCH 3rd party, click My BCH wallet in your Bitcoin.com wallet and click Receive. Send funds to your Cash address by copy/pasting the address in your 3rd party application or by using the provided QR code. It's always good to do a test transaction first. Once all BCH is received in your BCH wallet, proceed to Step 4. If you bought BCH directly in your Bitcoin.com wallet, proceed to Step 4 as well. NOTE: If necessary (like it is on Binance) remove the "bitcoincash:" prefix from the address. I have no idea why this exists. The BCH Cash address comes after the colon.

May 19, 2021
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