Gable Finance (previously: Sundae Finance) is a decentralized liquidity market protocol being developed on Radix. It was founded by Joost Delaere in Amsterdam, Netherlands in 2023. The protocol offered flash loans, allowing users to borrow funds without collateral if the borrowed funds are returned within the same transaction. This feature serves a wide variety of purposes including trading, arbitrage, and others.
Etymology
In a Medium post, Joost Delaere wrote that the name ‘Gable’ was inspired by the steeped gables that are characteristic of the architecture in Amsterdam, his native home.
History
Gable was conceived in early 2023 by Joost Delaere, a software developer with a background in quantitative finance and credit risk model implementation. Drawing from his personal interest in cryptocurrency and decentralized finance, Delaere aimed to build a platform where traders and investors could meet and bring liquidity to the forefront of decentralized finance.
The first iteration of the Gable will be released shortly after the launch of Radix Babylon in August 2023, offering a validator node, liquidity pool, and flash loans.
Features
Gable allows users to participate as borrowers or suppliers. For suppliers, it involves staking $XRD at Gable's validator node, depositing Liquid Staking Units (LSU's) into the liquidity pool, earning interest, and finally, claiming resources. A unique Non-Fungible Token (NFT) serves as proof of the supply, allowing the protocol to keep track of the user's entitled amount of LSU and earnings.
For borrowers, the protocol offers flash loans - a feature that enables users to access liquidity instantly at low interest rates, thus facilitating profitable trades and taking advantage of market inefficiencies. This has made it possible for anyone to participate in DeFi markets in a more accessible and cost-effective way.
Future Plans
Post the launch of Gable Version 1, plans for user adoption and increased liquidity have been prioritized by utilizing social media channels and promoting Gable's validator node to $XRD holders. The following year, in 2024, the protocol is planned to expand by introducing a native governance/utility token, increasing the number of lending products, supported tokens, liquidity pools and methods for providing liquidity.
The Gable team applied for a Radix Babylon Booster grant.
Security
The protocol is non-custodial and operates under the governance of smart contracts, offering transparency, security, and trust among all participants. Only the rightful owner can claim their portion of the pool's liquidity.