**Summer.fi (previously Oasis.app)** is a platform for [decentralized finance](https://iq.wiki/wiki/defi) (DeFi). It can be used to borrow [stablecoins](https://iq.wiki/wiki/stablecoin) against users’ favorite [cryptocurrencies](https://iq.wiki/wiki/cryptocurrency), increase exposure against them using Multiply, or Earn a competitive yield. [\[1\]](#cite-id-npxiei3r6m)[\[2\]](#cite-id-pggvqll2ln8)  
  
# Overview  
  
Summer.fi offers users three main products and advanced automation features. Stop-Loss helps prevent liquidation and potential losses. Auto-Buy, Auto-Sell, and constant multiple features aim to optimize the performance of a user's Vault. [\[3\]](#cite-id-91gcuhjib6a)  
  
In August 2023, Summer.fi raised $6 million while closing its Series A funding round. Having received these funds through a mix of fiat and crypto, and led by Libertus Capital, this funding was dedicated to developing the product, bringing on more people, and expanding offerings. The funding round also included other angel investors in the crypto space like Road Capital, Mariano Conti, former Head of Smart Contracts at [MakerDAO](https://iq.wiki/wiki/makerdao); Patricio Worthalter, founder of POAP; Cyrus Younessi, former Head of Risk at MakerDAO; Sergej Kunz and Anton Bukov, Co-founders of 1inch and Will Price. [\[11\]](#cite-id-5n4f5iv197)  
  
> “It's been an incredible journey so far. We're proving our vision of becoming the most trusted place in DeFi to deploy and manage capital. This latest funding allows Oasis.app to scale the features our community will be looking for next. As a team we are humbled to be working with such incredible investors who are already taking us forward with their experience of this space.  
>   
> This is a big-time for DeFi as users are not only seeing the potential but finding the tech to access it. It's still early days for DeFi and we are excited to be driving the next phase of adoption.” - Chris Bradbury, Oasis.app CEO[\[11\]](#cite-id-5n4f5iv197)  
  
# Products  
  
## Multiply  
  
Summer.fi Multiply allows users to utilize borrowed tokens to buy more collateral within the platform, enabling increased or decreased exposure to a single asset without multiple transactions. Users can deposit collateral to borrow debt tokens such as [DAI](https://iq.wiki/wiki/dai) or [USDC](https://iq.wiki/wiki/usdc) to purchase more collateral, multiplying their asset exposure in a single transaction. Supported tokens like [ETH](https://iq.wiki/wiki/ether-eth), [wBTC](https://iq.wiki/wiki/wrapped-bitcoin-wbtc), [stETH](https://iq.wiki/wiki/lido-staked-ethereum-steth), and [rETH](https://iq.wiki/wiki/reth) can be used. Summer.fi Multiply employs flash loans and liquidity sourcing from [1inch](https://iq.wiki/wiki/1inch) DEX aggregator to ensure cost-effective execution and optimal prices for swaps. [\[4\]](#cite-id-3wyrk12xfrr)  
  
## Borrow  
  
Summer.fi Borrow allows users to lend and borrow funds through an intuitive user interface. Key benefits include access to extra liquidity by borrowing [DAI](https://iq.wiki/wiki/dai), a [stablecoin](https://iq.wiki/wiki/stablecoin) useful for trading, spending, or saving. It offers various collateral types, rates, and ratios suitable for different risk profiles. Additionally, the platform features flexible repayment options with no fixed schedules, minimum payments, or credit history requirements, allowing users to repay at their own pace as long as their Vault remains properly collateralized. [\[5\]](#cite-id-bjt320t0e9)  
  
## Earn  
  
Summer.fi Earn is a full self-custody solution for entering and exiting yield positions so users will always stay in control of their funds. [\[6\]](#cite-id-kjit7zbw15)  
  
Increase the yield received from StETH. Upon opening a position, a flash loan for Dai is taken from [Maker](https://iq.wiki/wiki/makerdao) and deposited into the [Aave Protocol](https://iq.wiki/wiki/aave). Then ETH is borrowed until it reaches the desired multiple level. Next, the loaned ETH and the user’s initial deposit are exchanged to [StETH](https://iq.wiki/wiki/lido-staked-ethereum-steth) via [1Inch](https://iq.wiki/wiki/1inch). The return comes first from the ETH [staking](https://iq.wiki/wiki/staking) yield provided by StETH. That yield is multiplied by increasing exposure to StETH by borrowing ETH. [\[6\]](#cite-id-kjit7zbw15)  
  
# RAYS  
  
Introduced on June 20, 2024, $RAYS is the points system within Summer.fi. The program rewards users for using the platform. [\[7\]](#cite-id-kk57e2yebsr)  
  
> It's our reward to the community and the first step of the broader roadmap with our "Summer.fi Earn Protocol" in early 2025. - the team tweeted[\[7\]](#cite-id-kk57e2yebsr)  
  
The Summer.fi $RAYS Campaign is in preparation for the launch of the Summer.fi Earn Protocol, coming in early 2025. [\[8\]](#cite-id-6e7oca3w71g)  
  
The accrual of $RAYS allows users to express any market view and risk preference whilst incentivizing the usage of Summer.fi tools and features. [\[10\]](#cite-id-k1kzn3sgd7)  
  
# Team  
  
* Chris Bradbury - CEO  
* Soren - Director  
* Andrei - CTO  
* Joe - CFO  
* Maria - Marketing Lead  
* Javier - Community Manager[\[9\]](#cite-id-wlxnwulqmx)  
  
  
<br>  


In August 2023, Summer.fi raised $6 million while closing its Series A

$6 Million Series A Funding

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Summer Finance (Summer.fi, previously Oasis.app) is a decentralized finance (DeFi) platform for borrowing stablecoins, increasing asset exposure, and earning yi...

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