Ethereum Credit Guild

The first decentralized lending pool — lend and borrow without trusting an oracle provider. Join us on Discord

[Ethereum Credit Guild @CreditGuild]

Join us tomorrow at noon to discuss the collaboration between @reserveprotocol and the Credit Guild

Will be recorded

TLDR; eUSD available for borrowing, ETH+ as collateral in our existing ETH pool. Both live now, coincentives kick off tomorrow

https://t.co/1rOLBCrrpk

[Ethereum Credit Guild @CreditGuild]

The Ethereum Credit Guild interface will soon be deprecated. If you still haven’t withdrawn, it’s a good time to do so. Funds will remain accessible through the system smart contracts in perpetuity

[kirk @OneTrueKirk]

The Snapshot vote for allocating MORPHO to the @CreditGuild GUILD holders has passed. Thank you to those who voted, and to the GUILD holders to participating in the effort to bootstrap a novel oracle-free lending primitive. I hope you can continue to journey with me as Morpho innovates on governance and lending market design

Now that Snapshot has passed, the first distribution will occur soon, once the new MORPHO token is available, stay tuned for updates 🫡

[kirk @OneTrueKirk]

The @CreditGuild acqui-hire proposal is now live on the @MorphoLabs Snapshot (a bit belated with everything that's been going on re:transferability).

This proposal is part of my commitment to shut down the Credit Guild and become a full time contributor to the Morpho Protocol, leading the design and implementation of decentralized governance and other topics. The tokens allocated will be distributed to the GUILD holders, a community of active lenders focused on innovative market designs. Please vote 🙇‍♂️

https://t.co/5zIC86l9Sv

[Ethereum Credit Guild @CreditGuild]

The remaining outstanding loan terms are now being offboarded. After this, all liquidity will be available for lenders to withdraw. Interest will be distributed over 30 days according to the immutable configuration, so there is no hurry for lenders to withdraw

[Ethereum Credit Guild @CreditGuild]

Reminder: the @CreditGuild is being deprecated. Borrowers should repay their loans as soon as possible. All outstanding lending terms will be offboarded on September 30 (originally the 23rd, has been extended)

[Ethereum Credit Guild @CreditGuild]

Reminder: the @CreditGuild is being deprecated. Borrowers should repay their loans as soon as possible. All outstanding lending terms will be offboarded on September 30 (originally the 23rd, has been extended)

[Ethereum Credit Guild @CreditGuild]

We regret to inform you that the Credit Guild is being deprecated. Read the quoted tweet for more details 🫡

[kirk @OneTrueKirk]

𝗖𝗿𝗲𝗱𝗶𝘁 𝗚𝘂𝗶𝗹𝗱 𝗗𝗲𝗽𝗿𝗲𝗰𝗮𝘁𝗶𝗼𝗻

I regret to inform you that the Electric Development Co has made the decision to deprecate the @CreditGuild and cease further development work.

It’s been clear for some time now that the protocol has failed to achieve a sustainable level of traction. While a shutdown appeared the most likely outcome, with the encouragement of advisors I began to explore other options, most notably an acquisition.

In the end, we arrived at a deal that will be made public soon once the terms have completed legal review. Please understand that I will not be able to share any details about this deal publicly until review is complete. We are making the deprecation announcement now so that borrowers have time to close their positions in an orderly manner, lenders can rebalance their capital and avoid further opportunity costs, and coincentives partners can avoid misallocation of resources.

Deprecation will proceed gradually so as not to place undue burden on borrowers, according to the following steps:

1. Halt ongoing GUILD rewards and coincentives, effective immediately
2. Prevent new mints in the UI while allowing repayment of outstanding loans (happening ASAP)
3. On Monday, September 23, offboard all remaining lending terms, closing all outstanding loans and allowing remaining lenders to withdraw
4. After all auctions from step 3 complete, pause protocol smart contracts, preventing new mints and borrows at the contract level
5. Sweep the surplus buffer and distribute it to GUILD holders

To all Credit Guild lenders, borrowers, and stakers, thank you so much for taking the time to learn about our work and for using the protocol.

If you have any questions about the shutdown process, don’t hesitate to reach out here or on Discord. Beyond that, I’ll always remain more than happy to talk shop with our former GUILD holders, discuss ideas, and help out where I can like making introductions in the industry.

[Ethereum Credit Guild @CreditGuild]

Join us on Discord at 5:30PM PST for a discussion on how to propose new lending terms (collateral asset, LTV, interest rates), as well as use the new optimistic governance flow for adjusting interest rates and LTV for existing terms

[Ethereum Credit Guild @CreditGuild]

The Credit Guild has added support for optimistic governance of interest rates. Legacy lending terms will be gradually offboarded so that new loans use the new process

This will allow GUILD holders to better track external market rates and underlying collateral yield

[Ethereum Credit Guild @CreditGuild]

@SerenityFund @electronic_USD @arbitrum Hello, to clarify, the Reserve ARB+GUILD co-incentives are for lending eUSD, or for borrowing against ETH+ collateral

[Electronic Dollar @electronic_USD]

🗣️ Attention Yieldoors 🚜

Are you looking for Earn opportunities on @arbitrum ⁉️

Supply $eUSD on @creditguild and earn added rewards 💰 $ARB

[ETH Plus (ETH+) @ETHPlus_]

@CreditGuild With Credit Guild

ETH+ can be utilized to borrow $WETH
1. Head to the Credit guild APP
2. Click borrow, and click the ETH+ logo
3. Select how much WETH to borrow with ETH+

[Ethereum Credit Guild @CreditGuild]

A total of 5,081 ARB will be distributed during the first epoch. Get it while it lasts 🫡

[Ethereum Credit Guild @CreditGuild]

If you’re using or interested in @reserveprotocol, consider helping us bootstrap rToken usage on @arbitrum

You can lend eUSD or borrow WETH against ETH+ to earn ARB and GUILD coincentives

More details below

👇

[Ethereum Credit Guild @CreditGuild]

Please note that the WETH market currently has high utilization, so you may have to wait a bit to borrow using ETH+ collateral. For anyone reading with some idle ETH sitting around, it’s a good time to lend in the WETH pool since high utilization = high GUILD reward rate

[Ethereum Credit Guild @CreditGuild]

PI controller active ✅
Single sided incentives for holders ✅

$1 soon?

[kirk @OneTrueKirk]

27% redemption rate means it’s a good time to buy OD and lend on the @CreditGuild —

Redemption price increase will tend to push market price upward, and you can earn ODG + GUILD rewards (plus lending interest) while you wait

[Ethereum Credit Guild @CreditGuild]

Spaces was recorded in case you missed it! Thanks to @ivanhalen0x for the in depth discussion and @river0x_ for the hot takes. Now it is coffee time

[Ethereum Credit Guild @CreditGuild]

Join us next Tuesday for a chat with @reserveprotocol about the new eUSD market on Credit Guild and ETH+ collateral in the existing pools. eUSD pool is live already, coincentives kicking off soon, stay tuned! https://t.co/1rOLBCrrpk

[Ethereum Credit Guild @CreditGuild]

Live now, main content starts in 5mins

[Ethereum Credit Guild @CreditGuild]

https://t.co/1rOLBCrrpk