Earn Up to 18.5% Stablecoin Yields, Sub‑Zero Borrow Rates
Earn 4.59% on USDC/USDT on Ethereum via ftUSD Earn 18.50% on USDC/USSD on Sonic via ftUSD Margin based lending offers; 2.70% USDT on Ethereum 3.53% USDC on Ethereum 6.69% USDC on Sonic Borrow rates on BTC & ETH less than 1%. Maintenance Margin based lending means higher effective LTV, multicollateral netting. RFQ based liquidations means smaller haircuts and more time to respond. 0 subsidies, instant liquidity. Only on @flyingtulip_
Equity‑based Lending Cuts Liquidations Tenfold, Boosts Safety
FT's first big drawdown event, equity account based lending only liquidated about ~$50k in liquidations, equity accounting meant far less liquidations (netted risk vs discounted collateral) and soft liquidations meant far smaller amounts (average liquidation sizes were $200-$2k), in LTV...
Soft Liquidations Launch: Small Trades Restore Healthy Margins
Talked about soft liquidations for the first time ~2022, finally live in @flyingtulip_ 's margin / equity lending system. Small tiny trades to chip away and get you back to healthy status, no big collateral swaps.
On‑chain Margin Accounts Enable Multi‑Asset Trading Across Blockchains
Should really call it "margin accounts" more than "lending" since it feeds into lending, spot, leverage, total return swaps, perps, options, insurance, the works. Margin based trading directly onchain coming to all blockchains (as we slowly rollout).
Earn 5%+ Stablecoin Yields Without Incentives
5.11% on USDC on Sonic 5.27% on USDT and USDT on Ethereum - No token incentives - No subsidies - No "points" - No looping - No leverage - No "unstaking period" - No "exit queue" - Instant redemptions & liquidity Defi hasn't reached its peak yet, there is so...
Market Stifled by Caps, Circuit Breakers, and No Spot Trading
And this is with deposit caps, system caps, circuit breakers, throttled DN lev, no spot, lev, or trs. Fun.
Total Return Swaps Thrive; PUT System Delivers $1M Volume
Still personally most exited about Total Return Swaps coming out, but so incredibly happy and proud of the team for shipping all this in under 60 days. The PUT system is working even in these stressed environments, exactly what it was...
Zero High-Severity Findings, but Security Needs Layered Approach
"The contest wrapped up with zero valid Medium or High severity findings, making it one of the cleanest contest outcomes we have seen on Sherlock." Very appreciative of Sherlock, our codebase was also one of the first public contests that really...
Circuit Breakers and EIP7265 Secure DeFi Risk Controls
One of those "not the right time to talk about why x solves y" times, but sadly also generally the only time security gets proper attention. Circuit breakers work. We use a modified version of EIP7265, highly recommend just adding...
On‑chain USDe Enables ADL‑Free Staking Yield
While I don't recommend depositing now (even though there is no rsETH or other exposure), it is nice to see the model starting to work. Onchain USDe capable of doing the DN play with any native staking asset with no...
Key Breach Triggers rsETH Theft; Protocol Safeguards Liquidity
We are continuing to investigate the L0/rsETH incident, initial reports seem to indicate a private key compromise/bad config allowed ~200m worth of rsETH to be stolen, this was then deposited into Aave to borrow ETH (since rsETH has insufficient liquidity)....
New On‑Chain Layer Delivers 8‑12% Passive USDC Yield
So many new building blocks required to get here onchain. You can do this strategy with active management (in a limited fashion onchain), but no passive options, so we had to first rebuild an issuance / settlement layer (ftUSD), that...
Maintenance Lending Launches Scalable ftUSD, Enables Hedged Returns
Maintenance based lending is the first true defi evolution after LTV based lending. Enables an entirely new suite of hedged strategies that can move from active management to passive management. Less stress for borrowers, better yield for depositors. Many new features...
Revenue Rises, ftUSD Yields 7.5% Amid Strong Liquidity
- Revenue up, even when PUT backing down. - ftUSD growing steadily with 7.54% APY without additional token incentives being active yet. - Almost $1m bought back and burned - Good operational buffer. - $50m safely exited that would otherwise have sold on...
Sonic's ftUSD Launch Brings Web
The UX difference between Ethereum and Sonic never ceases to amaze me. Sonic feels like web2.