Zero loan protocol from @SovrynBTC is about as mind-boggling as #bitcoin itself🤯
A short thread with some... Philosophy? Let me know if you agree with these concepts & RT to spread the word.
🧵
A short thread with some... Philosophy? Let me know if you agree with these concepts & RT to spread the word.
🧵
To start, I love the freedom of it all.👑
You loan from yourself, mint some coins for yourself, have to pay back to yourself, and lock up your own collateral, for you. 🫵
Truly you are "Your Own Bank" as intended by #bitcoin. 🦾
You loan from yourself, mint some coins for yourself, have to pay back to yourself, and lock up your own collateral, for you. 🫵
Truly you are "Your Own Bank" as intended by #bitcoin. 🦾
If you have bad lending habits, others will liquidate you. The community keeps you honest.
Your risk is fully your own: appetite for a timely 110%? Go 11X margin long! 150%? Safety first. Truly want to set and forget? Consider 300-500%.
Your risk is fully your own: appetite for a timely 110%? Go 11X margin long! 150%? Safety first. Truly want to set and forget? Consider 300-500%.
Mechanisms like redemption and the stability pool ensure the value of what you loan, and incentivize that people keep ZUSD stable and create arbitrage opportunities.
Again a community service, resembling the PoW mining decentralized fee market, now accounting for value.
Again a community service, resembling the PoW mining decentralized fee market, now accounting for value.
Zero is like an atomic swap mechanism.
I don't need to sell, and can obtain another asset for my #bitcoin. I don't swap with anyone but myself: it's all under control of my own keys. In a way, I migrate my bitcoin value to another layer where value is expressed in fiat.
I don't need to sell, and can obtain another asset for my #bitcoin. I don't swap with anyone but myself: it's all under control of my own keys. In a way, I migrate my bitcoin value to another layer where value is expressed in fiat.
Zero is a time machine. Say you loan $ today against a portion of your #bitcoin and leverage-buy. You pay back later when the price is much higher.
You needed to sell less at a later stage and thus transferred risk through time and transformed it into value.
You needed to sell less at a later stage and thus transferred risk through time and transformed it into value.
Zero allows you to rent out your bitcoin. 0% interest and no payback period limitations. Is that really a loan? It's an extension of your #bitcoin, a means to extract it's value into the real world without selling it.
Finally: Zero allows any pleb to live like a fiat millionaire and loan based on your assets, however small.
This is how rich fiat folk evade capital gain taxation in many cases. Or how @elonmusk was about to buy Twitter, but then didn't because.
This is how rich fiat folk evade capital gain taxation in many cases. Or how @elonmusk was about to buy Twitter, but then didn't because.
Last but not least, no need to further spam #SuperHodl which is an extension of the value Zero offers. Please look at my profile.
Tagging @EdanYago and @lightcoin whom I challenge for some additional thoughts/insights (or to tell me if I went way too deep into the 🐇🕳️...)
Tagging @EdanYago and @lightcoin whom I challenge for some additional thoughts/insights (or to tell me if I went way too deep into the 🐇🕳️...)
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