Only Stablecoins accepted as collateral for now = no liquidations
Some screenshots from testing out
- deposit 100 USDC, mint 50 PAI (200% Collateral Ratio)
- Vaults show your position where you can mint / repay
- minting more PAI reduces your collateral ratio
$PAI use cases
- Like DAI on ETH = PAI on SOL
- Need PAI for their IDO
- In talks with projects to be able to use PAI as collateral/deposits
- PAI is like an aggregation layer for diff kinds of LP tokens/ interest bearing tokens
- Leverage
- Liquidation Pool , LP Pairs, trading
Liquidations
- For now, no liquidations because it's just stablecoins as collateral
- Will accept volatile assets like SOL, BTC, ETH
- liquidators just deposit PAI into the liquidation pool - protocol will liquidate positions
- liquidation rewards will be given + Parrot incentive
Parrot Token
- Governance/rewards tokens
- stability fees will be collected to buy back Parrot,
- Further incentivize LPs and Liquidation Pool Depositors
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Yesterday was prob a crazier day in Crypto than most with quite a few launches 😂🦧
Here's a short recap 👇
.@AaveAave had AIP-16 go live, which means
-> 2200 $stkAAVE per day will be distributed at a 50/50 ratio between depositors and borrowers.
-> AAVE now in the 10 billy club
-> You can use both @Instadapp and @DeFiSaver to maximise your yields 👨🌾
No news update for today but I have an ape one🙊
Bought some $GRT here with my ENS (5 ETH - 50% of Fund)
Reason being:
Blow off top from 74c to 56c (~25% drop)
Previous Blow off top was from 59c to 38c (~35% drop)
Funding is still negative (but not as high as it was)
With 2.8 bln in 24hr trading Volume, personally feel there could be another run up but the r/r here isnt as great admittedly.
However, fundamentals for The Graph are strong which is highlighted by Private Chad's thread here
It's crazy to think just how much crypto has changed my life and @Daryllautk 's too. We both got in 2017 with a tiny amount (<$50) because back then we were broke at with no source of income and just starting our degree in university
Looking back, there were plenty of signs for us to dive in:
- saw Bitcoin as payment on Steam when it was first added
- watched the Social Network movie when it first came out and thought the Winklevoss twins were cool af
- had a friend that was mining ETH in 2016 🤯
I guess the final sign was when I was interning at a local NGO and my boss at that time @mrstingy2014 started telling me about Bitcoin and how it could change the world. He wrote this cool article here: mr-stingy.com/love-affair-bi…