BeefyBank (soon)

Borrow stablecoins using your TenderTokens or Liquid Delegations as collateral

BeefyBank is Tenderize’s native lending market purpose-built for liquid staking tokens (LSTs). Lenders supply stable liquidity to earn competitive, utilization-driven yields, while borrowers unlock working capital against their Tenderize collateral with transparent costs and predictable access. The system is anchored by robust oracle design, conservative risk parameters, and permissionless liquidations that minimize bad debt and keep markets healthy.

For Tenderize’s multi-validator LSTs, BeefyBank isolates risk by asset while concentrating liquidity for efficient price discovery. Each market carries its own caps, collateral factors, and interest curves, enabling fine-grained risk control without sacrificing capital efficiency. The result is deep, programmatic liquidity for high-quality borrowing demand and consistently attractive returns for liquidity providers.

BeefyBank also supports borrowing for Tenderize’s single-validator LSTs through a unified market shared across all single-validator assets. This shared market inherits a common set of parameters and a global cap, while each single-validator LST accrues its own interest-rate spread that adjusts with its relative utilization of the pool (and naturally accounts for LST size). It mirrors TenderSwap’s pricing—combining a base fee with a per-LST spread—so rates reflect validator-specific demand without fragmenting liquidity.

This shared-liquidity plus per-LST spread model delivers the best of both worlds: pooled depth for superior execution and capital efficiency, with precise pricing that internalizes validator-level risk and demand. Long-tail validators gain access to meaningful liquidity, larger validators scale naturally, and depositors capture diversified yield streams—all within a safety-first architecture.