What @protocol_fx have built is truly remarkable. A highly decentralized stablecoin, generating some of the highest real yields on USD, with zero VC backing.
@cyrille_briere tells the story.
🚀 NEW EPISODE 🚀
Decentralized High Yield-Bearing Stablecoin & 0-Liquidation Perps
@seb3point0 chats with @cyrille_briere about decentralised stablecoins and how @protocol_fx's high yield-bearing fxUSD sustainably powers f(x)’s perps to achieve near-0 liquidations with minimal funding rates.
@protocol_fx is a new generation CDP (collateralised debt position) protocol, built by @aladdindao contributors, that offers on-chain perpetual trading for BTC & ETH with near-0 funding rates and a novel liquidation mechanism which protects users against hard liquidations.
The leverage component is powered by emitting fxUSD, the protocol’s decentralised stablecoin, which boasts robust peg-keeping mechanisms, the main one being fxSAVE’s stability pool. The fxSAVE strategy bestows nearly 10% APY to the yield-bearing fxUSD-USDC pair.
Don't forget to RT & follow @epicenterbtc!
Topics discussed in this episode:
0:00 - Introduction
3:16 - Cyrille’s background
7:30 - AladdinDAO
10:33 - Decentralised stablecoins
16:27 - f(x) perps and sharing liquidation risks
24:06 - The efficiency of progressive liquidations
29:01 - Removing funding rates
30:36 - fxSAVE’s stability pool yields
39:38 - fxUSD’s organic adoption
43:46 - The importance of decentralised stablecoins
50:31 - Winning in the perp arena
55:52 - Opportunities in the stablecoin adoption race
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