Founder @rumilabsxyz Building the rails for #DeFi on $ICP. Previously: music producer, #NFT artist, culture builder. Always: chasing the edge of what’s next.
@DBCrypt0 Source? I don't doubt it, but want to share with parties that won't take hearsay about the contract seriously, and I can't find any info on it specifically.
Building a stablecoin on a small chain means you can't rely on anyone else for liquidity infrastructure.
So I built a 3pool into Rumi Protocol. icUSD, ckUSDT, ckUSDC. Stablecoin swaps without depending on an external DEX to list you or fix their UI.
You build what you need when nobody else will.
$ICP
When UST collapsed, Cosmos didn't just lose a stablecoin. It lost trading pairs, lending markets, volume, and momentum. that hole never got filled.
Stablecoins aren't optional infrastructure. They're gravity. Ecosystems without deep stablecoin liquidity just slowly die, no matter how good the tech is.
wrote about how we got here.
Gold that just sits in a wallet is gold that isn't working.
CDPs let you borrow against it without selling.
Built exactly this on ICP. ckXAUT collateral went live last night.
$XAUT $PAXG $ICP
Bitcoin, Gold, and ICP. Three collateral types, one stablecoin.
Multi-collateral CDPs are live on Rumi Protocol. Borrow icUSD against ckBTC, ckXAUT, or ICP, each with independent liquidation ratios and vault logic.
$ICP
Big backend update shipping for Rumi🔧
Multi-collateral framework: built. Tested. Ready.
We're starting with $ICP, but the foundation is in place to expand collateral assets on demand.
icUSD is just getting started.
This does 3 things for us:
- Ensures users can repay their vaults even when liquidity for icUSD is low.
- Relieves a source of downward pressure on circulating supply.
- Builds a cache of stablecoins to use for redemptions when icUSD’s dollar peg is threatened.
$ICP
Stablecoin debt repayment is live. Users can now repay icUSD vaults with ckUSDT or ckUSDC. Solves the bootstrapping liquidity problem and builds a peg defense reserve. When redemptions spike, we can meet them with dollar-pegged assets instead of selling ICP. Building on $ICP.
I started looking for my first crypto job in January of my senior year and didn't land something until September. It was brutal.
I had to take a job working freight at the Home Depot to make ends meet, walking in there the day after I graduated wondering what I'm doing with my life, why I didn't just follow my mom's suggestion to become an x-ray tech because it pays well and there's always work.
Sometimes I still think that might have been a better path, but it's not me. I'm a crypto bro. I applied for grunt level tradfi stuff too and had one interviewer suss out of me that I knew a lot about crypto and he said "if you know all about that stuff, why do you want to work here?" Obviously I didn't, I was just desperate. Anyway eventually one came through after hundreds, maybe even a thousand applications.
Stay locked in, persistence is the thing you need the most and it will be tested for as long as it needs to be.
It’s about time 😄
Rumi Protocol now has an official Discord.
Come hang out, share thoughts, and be part of the conversation.
Join here 👇
https://t.co/HOzPoXcaP9
#ICP#Rumi#Protocol
@manyaaww@monad Can’t tell if serious or not… OP is showing circulating market cap and comparing it to FDV at ICO. Just under 11% circulating at launch. So, lower value from launch but not down 90%
@brian_armstrong Never have I ever heard someone say “I had to deal with Coinbase customer support and they were good.” In fact, if I heard someone say that I would assume they were joking.