Wildcat’s unsecured lending protocol seems totally fine, theyre basically short term commercial paper issued by MMs and other entities, the floating price is a great innovation. Actually if this was around last cycle, 3ac wouldve had a much easier time restructuring, as its credit wouldve traded in open market and couldve used assets to rebuy debt
Longterm default rate of everything trends toward 100% given sufficient time, in the meantime it is willing borrower and willing lender and the markets will decide the rates
Something like this wouldve been really useful for btc miners last cycle also
@HsakaTrades they are probably sleeping, nothing is happening, why ct fuds good exchange like ftx? they have raydium, serum and ftt
Today I had an exam in school. When I was done, I raised my hand and yelled “FTX!”
My teacher smiled and took my paper. She knew I was finished.
Day Shift 🆚 Night Shift
The Day Shift may have ended, but the Night Shift is only just beginning. Come join our fellow Dream Catchers in #ESION and gear up to help fight against the NOISE!
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