“Sumer is a Cross-chain Synthetic Assets Money Market Protocol deployed simultaneously on a network of chains.
As a DeFi user, you can deposit your assets (ETH, BTC, USDC, USDT, and more) on the native blockchain in the lending and borrowing market to mint synthetic assets (SuUSD, SuETH, SuBTC) that are fungible across the network of all supported blockchains.
Sumer is a risk engine that intelligently matches the users’ assets and liabilities based on the correlation of the assets. We put ETH derivative LSTs and ETH in the same asset group. This homogeneous grouping allows them to create synthetic ETH (suETH) and borrow against each other at a much higher collateral ratio. It is essentially a ‘stable swaps’ build for lending protocols.
With the help of the synthetic tokens (suUSD, suETH, suBTC), Sumer enables the creation of a fungible multichain layer on top of the native tokens, LSTs, RSTs, and yield-bearing stablecoins. This benefits users with improved cross-chain composability and additional yield opportunities without relinquishing their existing position (e.g., Deposit wstETH as collateral to mint suETH, Create wstETH/suETH pair on stable swaps for yield farming).
Summer adds more utility, capital efficiency, and stickiness to native tokens, LSTs, RSTs, and yield-bearing stablecoins.”