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The Strike App enables users access to a fully decentralized money market powered on Ethereum 24/7/365 with a user-interface, api, or smart contracts.
- Each asset supported by the Strike Protocol is integrated through a sToken contract, which is an EIP-20 compliant representation of balances supplied to the protocol. By minting sTokens, users (1) earn interest through the sToken's exchange rate, which increases in value relative to the underlying asset, and (2) gain the ability to use sTokens as collateral.
- sTokens are the primary means of interacting with the Strike Protocol; when a user mints, redeems, borrows, repays a borrow, liquidates a borrow, or transfers sTokens, she will do so using the sToken contract.
- There are currently two types of sTokens: SErc20 and SEther. Though both types expose the EIP-20 interface, SErc20 wraps an underlying ERC-20 asset, while SEther simply wraps Ether itself. As such, the core functions which involve transferring an asset into the protocol have slightly different interfaces depending on the type, each of which is shown below.
How do sTokens earn interest
- Each market has its own Supply interest rate (APR). Interest isn't distributed; instead, simply by holding sTokens, you'll earn interest.
- sTokens accumulates interest through their exchange rate — over time, each sToken becomes convertible into an increasing amount of it's underlying asset, even while the number of sTokens in your wallet stays the same.
- The SDK is currently in open beta.