i joined @gagedotcash. here’s why i’m bullish.
robinhood has brought stock tokens onchain. people are already pairing memes with stocks and building lp positions around them.
i think that creates a clear opportunity for lending. holders want cash without selling their bags. lenders want deals where they can choose the collateral, price and duration.
defi lending is already big, but borrowing often means variable rates, watching your health factor and adding collateral when the market dumps.
gage works differently.
you put up eligible stock tokens, memes or lp positions. A lender funds your deal in usdg, the cost and deadline are fixed upfront.
no price-triggered liquidation during the loan. a wick doesn’t close your position.
repay and get your collateral back. if you don’t repay, the lender can claim it after the deadline and grace period. lenders take that collateral risk and price the deal accordingly.
i’m interested in this because trading volume is only part of the story. as people hold more assets on robinhood chain, i expect more demand to borrow against them.
gorillions programmed
We are opening a $5 000 bug bounty for any critical level issues that can be found in our contracts that can lead to loss of funds for users depositing in our vaults.
We will base the decision with Immunefi standards of what is a critical.
Other bugs such as High or below will also be rewarded.
Please get in touch through X here or dm @0xbisbis on X for any claims.
We are onboarding @noufelgo
He is an ex-faang ex-chainlink senior engineer that worked on the CCIP bridge for Solana.
He joins us to work on the expansion of https://t.co/4ocnMycaZx while @0xbisbis can focus on @RobinhoodCrypto chain.
Making credit for memes available crosschain.
Gorillions