Sparta - undercollateralised lending & yield-generating pool

Sparta is a programmatic ‘community-owned bank/fund’ that helps its members earn high interest rates through a combination DeFi yield optimisation and interest-rate sharing by providing unsecured loans to its members.

We wanted to launch as soon as possible after the audit is completed, so Sparta v0.1 naturally has restricted functionality, with the new UX/UI and integration with an automatic rate rebalancer (RAY<>Curve) coming up.

So what can you do as a Sparta v0.1 user? Things that our members can do:

  • Contribute funds to the pool and hold internal pTokens (pool shares). Their price is determined by the bonding curve and changes as a function of liquidity amount in the pool. It is designed to allow for secondary liquidity management and our version of “ragequit”;
  • Take out an undercollateralised loans from the pool (providing only 50% of collateral, i.e. 50% LTV or Loan-to-Value);
  • Lend funds to members of the pool by staking in favour of their loan request and earn higher APR (please remember higher APR reflects higher risk).

All early participation in Sparta v0.1 will be counted towards the forthcoming liquidity mining programme. You can check the FAQ for interacting with the Sparta here.

Sparta is built on AkropolisOS, which is an upgradeable framework for creating for-profit DAOs. The initial version enables the following:
a) liquidity and incentive management using bonding curve;
b) capital coordination mechanism for under-collateralized credit
c) yield rebalancer.
Thus, it aims to translate new DeFi developments into the original vision for a provably solvent savings/pension fund, independent of the banking system, and resilient to inflation and a wide range of attack vectors.

Mainnet announcement:
Sparta description:
Upcoming UI/UX redesign:


Definitely one of the most innovative projects with great potential. I put some akro tokens in the stake for the test. I’m wondering how it will allow under-collateralization because that would be a big deal for the whole DeFi system.
I believe in the project despite the recent re-entrancy / flash loan attack. In my opinion, this is just proof that the project should be constantly audited and use more auditors because the sector is extremely dynamic. I know that is expensive, but…hack cost more.

1 Like