Around 2 months ago, we announced our plan to build leveraged token on top of Rari Fuse. We call it Fuse Leveraged Token, an open and fluid leveraged token mechanism that can be easily implemented by any project that controls fuse pool.
A couple of weeks ago, something unfortunate happened. Rari fuse was exploited by around 80 million and left some of the pool in bad debt. We feel that it is necessary to address this issue for our community.
To cut it short:
We still have all the intention to keep working on utilizing fuse as a leveraged mechanism. No changes in plans, full-on.
A couple of reasons why we make this decision
What doesn’t kill you will make you stronger.
There will be more eyes towards fuse, more security reviews will be done and more audits for sure.
We don’t believe that we can create a much safer and better mechanism on our own. It will not decrease the exploit risk significantly. Altho there are still some things that need to be clarified, we don’t believe moving away from building on fuse would be the most responsible and thoughtful move.
You have to admit that Tribe DAO ecosystem is full of Chads that had it rough in crypto just to thrive later. Both Rari and Fei were not without problems in the early days. We saw the Fei depeg and Rari previous exploit, it doesn’t change their determination to build better stuff for DeFi ecosystem.
We want to work together with all of these Chads
Quite self-explanatory, It is just the right fit for us. Tribe DAO has all the necessary tools that we need to grow risedle in the future.
Combining all of this, we can potentially create the most capital efficient and permissionless perp market. We envision that in the future, crypto projects don’t need to spend a fortune to get listed on CEX. They can just go to us and host their perp market. It will be only possible by working together with Tribe DAO.
We don’t have any financial affiliations with Tribe DAO yet. No seed investment is being made by Tribe DAO or any of the team members.
There’s no token swap agreement as of now or any type of formal agreement that we do with Tribe DAO. The relationship that we have is fully based on trust and needs between each of us.
RisedleCAKERISE & CAKEDROP are live on Risedle
Today, we launched CAKERISE and CAKEDROP, the first leveraged tokens built on top of Fuse that is maintained by Midas Capital on BNB Smart Chain. CAKERISE and CAKEDROP are derivatives products with no margin or liquidation risks. It provides you with leveraged long and short exposure to the CAKE token, which may amplify profitability and potential losses:If CAKE price goes up 5% 🟢, then:CAKERISE price will up 10% 🟢CAKEDROP price will down 10% 🔴If CAKE price goes down 5% 🔴, then:CAKERISE p...
RisedleSupercharged Web3 Trading Experience
You may notice that the current DeFi ecosystem is developed in silo, where every protocol compete to get the highest liquidity or usage by using token incentives. This competition created a misaligned incentives model that leaves a lot of token to go into death spiral, bleed to dry and race to zero fees.It’s all never-ending death spiralComposability has been discussed endlessly but yet we only see small number of projects that focused on this area. Everyone is trying to become the new primit...
RisedleFebruary Development Update
Hi again from the core team at Risedle! We’ve got a lot of updates to share, so let’s get started.Better Product DocumentationWe have revamped Risedle’s documentation site. Previously we used a notion page for the documentation. There is no clear site navigation and full text search functionality built in. Then we move the documentation to gitbook. It has the best navigation and full text search functionality.Clear guideIn the new docs we focus on explaining Risedle’s products instead of the ...
The DeFi Interface of Arbitrum
Around 2 months ago, we announced our plan to build leveraged token on top of Rari Fuse. We call it Fuse Leveraged Token, an open and fluid leveraged token mechanism that can be easily implemented by any project that controls fuse pool.
A couple of weeks ago, something unfortunate happened. Rari fuse was exploited by around 80 million and left some of the pool in bad debt. We feel that it is necessary to address this issue for our community.
To cut it short:
We still have all the intention to keep working on utilizing fuse as a leveraged mechanism. No changes in plans, full-on.
A couple of reasons why we make this decision
What doesn’t kill you will make you stronger.
There will be more eyes towards fuse, more security reviews will be done and more audits for sure.
We don’t believe that we can create a much safer and better mechanism on our own. It will not decrease the exploit risk significantly. Altho there are still some things that need to be clarified, we don’t believe moving away from building on fuse would be the most responsible and thoughtful move.
You have to admit that Tribe DAO ecosystem is full of Chads that had it rough in crypto just to thrive later. Both Rari and Fei were not without problems in the early days. We saw the Fei depeg and Rari previous exploit, it doesn’t change their determination to build better stuff for DeFi ecosystem.
We want to work together with all of these Chads
Quite self-explanatory, It is just the right fit for us. Tribe DAO has all the necessary tools that we need to grow risedle in the future.
Combining all of this, we can potentially create the most capital efficient and permissionless perp market. We envision that in the future, crypto projects don’t need to spend a fortune to get listed on CEX. They can just go to us and host their perp market. It will be only possible by working together with Tribe DAO.
We don’t have any financial affiliations with Tribe DAO yet. No seed investment is being made by Tribe DAO or any of the team members.
There’s no token swap agreement as of now or any type of formal agreement that we do with Tribe DAO. The relationship that we have is fully based on trust and needs between each of us.
RisedleCAKERISE & CAKEDROP are live on Risedle
Today, we launched CAKERISE and CAKEDROP, the first leveraged tokens built on top of Fuse that is maintained by Midas Capital on BNB Smart Chain. CAKERISE and CAKEDROP are derivatives products with no margin or liquidation risks. It provides you with leveraged long and short exposure to the CAKE token, which may amplify profitability and potential losses:If CAKE price goes up 5% 🟢, then:CAKERISE price will up 10% 🟢CAKEDROP price will down 10% 🔴If CAKE price goes down 5% 🔴, then:CAKERISE p...
RisedleSupercharged Web3 Trading Experience
You may notice that the current DeFi ecosystem is developed in silo, where every protocol compete to get the highest liquidity or usage by using token incentives. This competition created a misaligned incentives model that leaves a lot of token to go into death spiral, bleed to dry and race to zero fees.It’s all never-ending death spiralComposability has been discussed endlessly but yet we only see small number of projects that focused on this area. Everyone is trying to become the new primit...
RisedleFebruary Development Update
Hi again from the core team at Risedle! We’ve got a lot of updates to share, so let’s get started.Better Product DocumentationWe have revamped Risedle’s documentation site. Previously we used a notion page for the documentation. There is no clear site navigation and full text search functionality built in. Then we move the documentation to gitbook. It has the best navigation and full text search functionality.Clear guideIn the new docs we focus on explaining Risedle’s products instead of the ...
The DeFi Interface of Arbitrum
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