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Solana to get LST Backed CDP Stable $YBX
MarginFi’s stable YBX is a CDP stable like DAI but with one small twist....Solana has no dominant CDP like DAI however ($5B outstanding) so there is an opportunity for someone...
2 Min
Debt-Backed (CDP) Stablecoins
Feb 2024
Liquity v2: Evolving Onchain Leverage
Introduction Are CDP stablecoins toast?...Liquity appears to be a strong contender for CDP resurgence with its upcoming v2 release....Let’s explore noteworthy CDPs along with their strengths and weaknesses....Most CDP’s are capital efficient yet risky, making them ideal as leverage vehicles....in their heyday. 2021 was the golden era for CDP stablecoins.
20 Min
Debt-Backed (CDP) Stablecoins
Nov 2024
The Looming Opportunity With Decentralized Stablecoins
When GHO price is below $1, users will likely seek to acquire GHO for cheap and pay off their CDP cheaply...Rather, the GHO price returns to peg by existing CDP holders unwinding their leverage or users buying...Having a CDP converted into an LP position presents risks: you can’t adjust CDP during soft liquidation...
30 Min
Stablecoins
Aug 2023
yETH: Now Do You Understand?
MakerDAO’s CDPs are essentially used as a bridge for ETH to be used for farming in DeFi. yETH essentially...As most of you know, when locking up ETH into a MakerDAO CDP, you need to have enough collateral to back...You can view the CDP for yETH here....The amount of DAI that can be created from ETH via Maker CDPs is currently at 94% utilization (so only...
8 Min
DeFi
Sep 2020
A Look at Convex's Business Model and a Looming Catalyst
, assuming crvUSD as an isolated product. crvUSD is based on a unique collateralized debt position (CDP...As a CDP model, interest is accrued on every crvUSD minted, which will likely be directed back to veCRV...
10 Min
Vaults
Feb 2023
Governance Digest
Monetsupply, this forum post begins a discussion in MakerDAO about creating a product allowing for CDPs...Determining when to liquidate a CDP is a core function of MakerDAO, and difficulty surrounding pricing...Our Opinion: If MakerDAO can figure out a way to accurately price and liquidate NFT CDPs, this could...
10 Min
DAO
Jan 2022
The Rise of Ethena: Unpacking The Emerging Synthetic Dollar
Conversely, Collateralized-Debt-Position (CDP) stablecoins have the opposite problem....Said differently, the scalability of CDPs such as DAI is undermined by the need to collateralize 1 DAI...Given that the Ethena model comes with fundamentally different risks relative to CDPs and RWA-backed...First, Ethena is more capital efficient than CDPs.
40 Min
DeFi
Apr 2024
MakerDAO's 2022 Fundamentals
This model is generally known as a CDP, or collateralized debt position, and is a popular mechanism for...The CDP model has proven to be resilient and popular in DeFi....It is a testament to the MakerDAO CDP model working as intended.
12 Min
Debt-Backed (CDP) Stablecoins
Mar 2023
Show Me The Money
This model is generally known as a CDP, or collateralized debt position, and is a popular mechanism for...The CDP model has proven to be resilient and popular in DeFi.
7 Min
DeFi
Jul 2023
A New Framework For Understanding Moats In Crypto Markets
CDPs The second stablecoin model is CDPs....Given CDPs are usually minted against crypto loans, these “stablecoins” should be viewed more as lend...as USDT, these models are far more defensible than non-CDP money markets....Moreover, unlike traditional money markets that derive their defensibility purely from TVL, CDPs are...
36 Min
DeFi
Aug 2024
Tokenized BTC on Ethereum
Out of a total supply of 4031 WBTC, ~67% of it is being borrowed against in Maker CDPs.
3 Min
Infrastructure
Jun 2020
Governance Digest
MakerDAO is continuing on the path of letting people borrow against tokenized real-world assets (“RWA”) in CDPs...Any RWA on Centrifuge’s Tinlake platform can apply for a CDP on MakerDAO through their MIP-6 process.
11 Min
DAO
Aug 2021
Solo, Liquid, or Centralized: A Guide to Staking ETH
LSD-Backed CDP Stablecoin Agility, Lybra, and Raft are all collateralized debt position (CDP) stablecoin...
16 Min
Liquid Staking
Jun 2023
As Aave Soars, Maker Eyes Rate Hike
...above may not seem like much at a glance, but when you realize ETH and BTC make up ~89% of all Maker CDP...
2 Min
DeFi
Feb 2021
Delphi Office Hours Call (July 13th, 2022)
...newsletter this week, Aave Companies has proposed that Aave develop a stablecoin based on the battle-tested CDP...Medio (43:22) Obviously, we talked about the CDP model a bit earlier and that’s proven to be the most...ones that are heavily under collateralized, and then burial algorithmic and gravitate more towards a CDP-based...
50 Min
Macro & Markets
Jul 2022
Mirror vs Synthetix? How About Terra
Minting a synthetic asset (“mAsset”) using Mirror entails opening a collateralized debt position (“CDP...The 1.5% protocol fee taken when people close their CDPs is the main value driver for the MIR token at...Synthetix co-mingles all of the minters’ debt into a single pool, whereas Mirror silos debt through its CDP-based...
16 Min
DeFi
Feb 2021
Maverick Takes Aim at the DEX Landscape
...become the dominant trading pair on AMMs, and potentially the dominant collateral type for options and CDPs...
11 Min
AMM
Jun 2023
The Year Ahead for DeFi 2024
The total value of LSDs held across DEXs, CDP protocols, and lending protocols has reached $7B....have emerged within each sector of LSDfi: Curve dominates the DEXs, MakerDAO is at the forefront of CDP...As liquid restaking cements its role in the market, money markets and CDP protocols stand to benefit...
100 Min
DeFi
Dec 2023
MIM's Inflection Point & A Glimpse Into Real NFT Activity
Over-collateralization isn’t the end-all solution to stablecoin pegs It is not true to say that all overcollateralized CDP...
5 Min
DeFi
Jan 2022
Your Guide to the Collateralized Stablecoin Landscape
Its native stablecoin, DAI, is created using a Collateralized Debt Position (CDP) model, and it has the...Abracadabra (MIM) Abracadabra is a CDP-based stablecoin platform, similar to DAI, that uses Kashi – the...LUSD is solely backed by ETH, using a CDP model that makes Liquity the only decentralized borrowing protocol...
21 Min
Algorithmic Stablecoins
Jul 2022