The Cybernetic Ascetic.
@RaidGuild
Joined June 2021
- Tweets602
- Following823
- Followers121
- Likes1.4K
MrDeadCe11 retweeted
1. The DAI peg couldn't handle demand shocks. We made RAI to address this, but with a variable peg.
@rai_dollar fixes this while keeping the $1 target.
2. Liquity Redemptions eat a borrower's collateral away.
@rai_dollar fixes this by allowing op-out of redemptions.
🗿
MrDeadCe11 retweeted
Something is off with this tBTC pause announcement.
"The situation is contained" but then they say it's just "maintenance"
Routine maintenance doesn't involved containing a situation.
I was kicked from their discord for pointing out this inconsistency.
tBTC pause and security update
tBTC remains fully backed and no funds have been lost. Currently, 4,320 BTC sits in the bridge wallets against roughly 4,185 tBTC in circulation, and we've seen no unauthorized minting. Reserves can be verified on-chain here: app.threshold.network/explor…
New deposits/mints and redemptions remain paused while security maintenance on the bridge is completed.
The situation is contained and bridge functionality will resume once a full remediation is in place.
tBTC continues to transfer normally on Ethereum and L2s.
If you have a deposit or redemption in progress, it will complete after operations resume. Please don't send BTC to previously generated deposit addresses or repeat a transaction in the meantime.
We'll post the next update within 24 hours, or sooner if anything changes.
MrDeadCe11 retweeted
Another step forward in our VC journey! 🚀 We’re proud to back @rai_dollar.
We look for teams that challenge the status quo, bring fresh ideas to DeFi, and put security first. RAI checks every box.
Read our investment thesis below 👇
MrDeadCe11 retweeted
RAI Dollar is one step closer to launch!
We're pleased to announce our partnership with @PashovAuditGrp to perform a security audit of the immutable RAI Dollar stablecoin lending protocol.
This brings us closer to our targeted Q1 2027 launch.
Long live the Money God. 🗿
MrDeadCe11 retweeted
We are building games in the RaidGuild Cohort this month.
Vampire Survivors meets Smash TV, RaidGuild style. ⚔️
7 heroes. 5 realms. Hordes of monsters.
Stack ridiculous weapons, unlock permanent Rougelite upgrades, and try to survive Moloch.
link to play below
MrDeadCe11 retweeted
"How will you handle distribution?"
With CDP stablecoins borrowers *are* the issuance channel.
Improve the borrower UX and you increase distribution to RD holders.
@rai_dollar improves it in two major ways.
🧵
MrDeadCe11 retweeted
Increasing borrow rates and thus yield in most CDP stablecoin designs is not enough to reliably fix downside de-pegs.
It's just increasing yield with more of a stablecoin that is already de-pegged for whatever reason.
And debt demand can be inelastic to rates.
@rai_dollar uses the lessons of RAI to handle this problem.
docs.raidollar.tech/viz/par-…
MrDeadCe11 retweeted
▶️RAI Dollar has been selected for support through the Ethereum Audit Subsidy Program!
The subsidy will help fund independent security audits as we prepare for public testnet and launch.
We’re grateful for this support as we work to bring the immutable dollar of DeFi to life. 🗿
MrDeadCe11 retweeted
RAI Dollar will be redeemable on-chain for ETH, ETH derivatives, BTC and gold without any middlemen involved. ⟠ ₿ 🧈
RD will be exchangeable for verifiable, on-chain crypto collateral.
Here's an interactive simulator of the mechanics of redeeming RD from trove collateral.
docs.raidollar.tech/docs/adv…
MrDeadCe11 retweeted
RAI Dollar: an immutable, $1-targeting stablecoin with peg defense in every market state.
Liquity mechanisms, RAI's control theory plus many new things.
No governance. No admin keys. No censorship.
docs.raidollar.tech/blog/int…
MrDeadCe11 retweeted
Redemptions of a stablecoin for crypto collateral are a top-shelf feature. 🥇
But in a CDP stablecoin, the collateral comes from borrower collateral. 🪙
The redemption pays off some of the borrower's debt, in exchange for that borrower's collateral. 🤝
Even though the redeemer pays a small fee to the borrower, it can still be frustrating to watch your collateral balance shrink. 📉
🧵
MrDeadCe11 retweeted
Or....hear me out...a decentralized immutable stablecoin that automatically adjusts to this risk-free rate through market mechanisms and passes the yield to users.
MrDeadCe11 retweeted
A reminder you could be borrowing the Arbitrum Dollar against ARB on @NeriteOrg
Keeping interest minimal with a managed rate
MrDeadCe11 retweeted
h/t to our top contributors, incredible devs, and all around great guys: @georgeh0x, @MDeadcells, & @viiiiiiiiiiiid.