Collar is a money market protocol for hedging pegged cryptoassets. Protect your portfolio by borrowing against it with 100% LTV and no risk of liquidation.
Joined April 2021
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Collar Finance 👔 retweeted
2/ Idea #1: Stablecoin liquidity = Stablecoin utility
The best stablecoins are those that are the easiest to turn into $1.
At the center are USDC and USDT, which are backed by tradfi assets.
One hop out are the crypto-backed stablecoins, including DAI, FRAX, MIM, and UST.
Collar Finance 👔 retweeted
4/ ...and that’s just to name a few. Love what you see? To learn more, make a cup of tea ☕️ and read through the technical paper here:
github.com/aave/aave-v3-core…
It’s a systematic failure under current over-collateralization and oracle-relied price feeding mechanism. Cream is always pioneering the innovation of current lending area, meanwhile is tripped by these side effects.
Technically, it's not price manipulation. yUSDVault actually doubled in value. The problem is that it happened atomically so Cream couldn't liquidate accounts and prevent them from going under water.
Cream should not have allowed assets that can change their value so quickly.
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1/ Following up with $CREAM hack, the exploiter is keeping on withdrawing principal assets from underlying protocols, swapping centralized stablecoins for $DAI, and redeeming bridged $BTC. etherscan.io/address/0x24354…
3/ For $CRETH, the exploiter offers an unique option for market rather than redeem them as ETH in cream protocol or dump into market. This transaction show 0 ETH and 12266 CRETH2 are provided into @Uniswap V3 liquidity. etherscan.io/tx/0xc79559d42a…
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Let’s embrace something innovative.
Users can consider Collar borrowing as a swap + an insurance enabling them to withdraw same amount of their principal assets anytime before expiry. Meanwhile lenders can consider Collar as fixed income product(before expiry)+ call option of collateral(after expiry).
Essentially, this options-based pegged assets swap decouples the risk of asset issuer positioning from asset pegging value. The de-peg risk from particular issuer of the asset is transferred to the counterparty of its loan.
#RecoverPool is live now.
As an offering of compensation to the Cover/Ruler communities, we have decided to offer a percentage of our governance token COLLAR to COVER/RULER token holders.
For $COVER holders: recover.cover.collar.org/
For $RULER holders: recover.ruler.collar.org/
Operational Guide for COVER/RULER RecoverPool:
docs.google.com/document/d/1…
Any questions please join Collar Discord.
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1/ After almost 2 weeks of the last
@RulerProtocol statement, the compensation process finally started? In the last 2 weeks, we feel more than sorry to witness $COVER pump and dump, Binance delisting announcement, and absolute silence from the project.
Yearn Hentai Fund has received a generous donation of $661k from @RulerProtocol. We begin the production immediately.
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2/ Collar Finance put 3 proposals, opened up a new compensation plan, and finished #RecoverPool mainnet deployment. Even in this weird situation, the announced compensation plan won’t be disrupted. The $COVER and $RULER swap pools will open for users later today.
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