An Under-Collateralized Borrowing Protocol, redefining #Defi with genuine innovation and #Web3 credentials https://prestare.finance
The Ins and Outs of Soulbound Token
SBT was first proposed by Vitalik in a January article and elaborated on in Decentralized Society: Finding Web3’s Soul. Soulbound may be a strange word. It comes from World of Warcraft, where most of the very powerful equipment in the game is soulbound, meaning that once picked up, it cannot be transferred or sold by the player. So in simple terms, Soulbound Token (SBT) can be understood as a non-transferable NFT. The definition of SBT may be simple, but the idea behind it is profound. The wh...
The Ins and Outs of Soulbound Token
SBT was first proposed by Vitalik in a January article and elaborated on in Decentralized Society: Finding Web3’s Soul. Soulbound may be a strange word. It comes from World of Warcraft, where most of the very powerful equipment in the game is soulbound, meaning that once picked up, it cannot be transferred or sold by the player. So in simple terms, Soulbound Token (SBT) can be understood as a non-transferable NFT. The definition of SBT may be simple, but the idea behind it is profound. The wh...
Rethinking the CeFi Crypto Lending Model
The recent spate of suspensions on crypto lending platforms triggered panic among crypto market participants and a sharp decline in the crypto market. By combing through the core model of centralized crypto lending platforms and their actual operation, this article explains the inevitability of such platform thunderstorms, how to avoid such funds in the future and the possible direction of DeFi in the future.What is Crypto Lending?Cryptocurrency lending is a novel financial instrument that al...
Rethinking the CeFi Crypto Lending Model
The recent spate of suspensions on crypto lending platforms triggered panic among crypto market participants and a sharp decline in the crypto market. By combing through the core model of centralized crypto lending platforms and their actual operation, this article explains the inevitability of such platform thunderstorms, how to avoid such funds in the future and the possible direction of DeFi in the future.What is Crypto Lending?Cryptocurrency lending is a novel financial instrument that al...
The Pseudo-Innovation of DeFi
Two years ago, on June 15, 2020, Compound launched yield farming, sparking the DeFi Summer and subsequent year-and-a-half bull run in the crypto market. As before, this bull market ended with a sharp decline. By June 15, 2022, the total value of the entire crypto digital asset market had fallen 67.5% from its peak.DeFi’s Unusual Plunge and Market FailureDeFi has fared particularly badly in this market crash. By June 15, 2022, while the total value of DeFi lock-ins had fallen 69%, essentially ...
The Pseudo-Innovation of DeFi
Two years ago, on June 15, 2020, Compound launched yield farming, sparking the DeFi Summer and subsequent year-and-a-half bull run in the crypto market. As before, this bull market ended with a sharp decline. By June 15, 2022, the total value of the entire crypto digital asset market had fallen 67.5% from its peak.DeFi’s Unusual Plunge and Market FailureDeFi has fared particularly badly in this market crash. By June 15, 2022, while the total value of DeFi lock-ins had fallen 69%, essentially ...
Problems with DeFi 1.0 Lending
Lending platforms — an essential element of decentralized finance (DeFi) — stand at the center of the recent crypto turmoil. Total value locked in DeFi lending protocols peaked at $50 billion in early 2022, up from nearly zero at the end of 2020. Lenders are attracted by high-interest rates that often far exceed those on bank deposits or money market funds (right-hand panel). Borrowers, in turn, use DeFi lending to gain leveraged exposure to crypto-assets or adjust portfolios.StatusThe crucia...
Problems with DeFi 1.0 Lending
Lending platforms — an essential element of decentralized finance (DeFi) — stand at the center of the recent crypto turmoil. Total value locked in DeFi lending protocols peaked at $50 billion in early 2022, up from nearly zero at the end of 2020. Lenders are attracted by high-interest rates that often far exceed those on bank deposits or money market funds (right-hand panel). Borrowers, in turn, use DeFi lending to gain leveraged exposure to crypto-assets or adjust portfolios.StatusThe crucia...
Introduction to Prestare Finance
We’re excited to introduce Prestare, a protocol that fills in one of DeFi’s biggest missing pieces: under-collateralized crypto lending and borrowing using only on-chain information. We believe this is a critical step towards increasing the efficiency of capital utilization in the crypto world and ultimately opening up crypto credit to the majority of the world. Through a combination of decentralization and on-chain historical interaction information, Prestare will securely allow anyone to be...
Introduction to Prestare Finance
We’re excited to introduce Prestare, a protocol that fills in one of DeFi’s biggest missing pieces: under-collateralized crypto lending and borrowing using only on-chain information. We believe this is a critical step towards increasing the efficiency of capital utilization in the crypto world and ultimately opening up crypto credit to the majority of the world. Through a combination of decentralization and on-chain historical interaction information, Prestare will securely allow anyone to be...
