Carter L. Woetzel⚫⚫⚫ Profile picture
Oct 2, 2022 7 tweets 4 min read Read on X
1/🧵 What is @Umee_CrossChain & why is it key to unlocking DeFi for Web3?

Problem: interest rates in crypto are entirely based on narrowly focused supply & demand data.

Solution: build crypto aggregated term structures that use time-to-maturity & credit-worthiness

Read on 👇
2/🧵 How does #Umee do this?

There is an entire ecosystem of uTokens that are claims on constantly accruing interest (in the form of uTokens). uTokens can simultaneously be used as collateral.

#ATOM
3/🧵 #Umee will also features meTokens which are essentially staking derivatives except the interest stream accrues in the form of meTokens (such as meATOM) that can then be used elsewhere in DeFi
4/🧵 Umee is extremely focused on composability for these interest bearing tokens:

Bridges:
✅IBC
✅ETH (using gravity's libp2p based gossip network)

Composability makes the world go round in the #Cosmos ecosystem.
5/🧵 The coordination of all of the lending and debt positions are managed via the Asset Facility Coordination Protocol.

Umee contains depositors, borrowers, liquidity providers and various parameters that need to be kept track of.

$UMEE $ATOM
6/🧵 Base rates represents the cost to borrow regardless of the existing utilization of
the platform.

Umee aggregates across Web3 lending platforms to compute this aggregated base rate.

The more data / platforms, the more quality the base rate.
7/🧵 tldr; #Umee aims to build an entire Web3 cross-chain DeFi ecosystem by narrowing in on accurate & nuanced base rates as the fundamental building block.

My first Cosmos review (for fun) - what should I review next?

Comment below👇

Whitepaper:
umee.cc/umee-whitepape…

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More from @l_woetzel

Sep 9, 2022
🧵1/ Grit, Grind, & Launching In Web3

I'm going to be honest,

Building is a tense endeavor - grinding away towards an unknown future.

From July 2021 - February 2022 (8 months) I was on fire for Web3. The dream of Shade Protocol and getting a team fulltime was my sole focus...
🧵2/

Countless tired nights.

I remember taking a set of pitch calls one tireless night at 11:00 pm, 1:00 am, 4:00 am., 7:00 am, and then working the rest of the day from the same co-op work space. Grinding out whitepapers, pitches, content, vision casting, interviews...
🧵3/

...building out the team, forming companies, benefits, the whole nine yards. This of course led to burn out. In February, post initial Shade airdrop I finally felt like I could take a deep breathe. But I felt a certain dullness.

Tthe adrenaline of sprinting to the...
Read 9 tweets
Aug 8, 2022
1/9🧵How is the $SILK peg computed?

SILK is a privacy-preserving overcollateralized stablecoin pegged to a basket of global currencies and commodities.

It reflexively follows a pre-defined peg based on price inputs, weights, and initial starting parameters⚫️

Math time 👇
2/9🧵 Initialization Inputs (simplified example):
Currencies (C) = {USD, EURO, GBP, JPY)
Weights (W) = {25%, 25%, 25%, 25%}
Target Peg (T) = {$1.05}

Initialization (C,W,T)➡️compute fixed weight for each currency with respect to their value & their percentage of composition.
3/9🧵 Compute fixed weights a(n):

a(0) is the fixed starting weight for the USD portion of the SILK peg.

Solve -> a(0) * $1 * = $1.05 * . 25
a(0) = .2625
Read 10 tweets
Feb 28, 2022
(1/37) Enough is enough.

I'm seeing people question the dedication, skill, size, and commitment of the Secret community.

Here is a thread highlighting the many people who have made an immense commitment Secret - impacting the larger Interchain community.

THREAD 👇👇👇 $SCRT
2/ @GuyZys author of the original whitepaper that eventually birthed Secret Network.

Guy is a visionary - he saw the future of privacy-preserving smart contracts before anyone else, gathering hearts and minds to make @SecretNetwork

Without him, none of us would be here. $SCRT
3) @TorBair - Tor's unwavering support for the ethos of privacy and how it can change the world has never been shaken. He has pushed the community to be something special. Hours of calls. The burden of responsibility and true leadership.

Thank you @TorBair , onwards and upwards
Read 39 tweets
Apr 10, 2021
Monthly $SCRT Ecosystem Update Thread:

#1 Launch of $SEFI governance token on secretswap.io

👇👇👇
#2 $SEFI distribution $SCRT
#3 $SEFI liquidity chart $SCRT
Read 28 tweets
Apr 9, 2021
DeFi to date has had very few regulations in place outside of a couple of earmark cases such as EtherDelta / DAO in 2018. Part of this appears to be due to a lack of understanding from regulators about DeFi and how it operates.... [Thread]👇👇👇 #bitcoin #DeFi #blockchain
In addition, the neckbreaking rate the DeFi community continues to innovate at makes it even more difficult for legislators to keep pace.

Which regulators are relevant to which parts of DeFi? ....👇👇👇
There are governance tokens, LP tokens, trades, and a decentralized community all partaking in this permissionless ecosystem of tools known as DeFi.

Regulators are typically inspired by consumer-protection, while not wanting to stifle innovation and progress... 👇👇👇
Read 4 tweets
Dec 28, 2020
Secret Network 2020 Annual Review $SCRT #cryptocurrency #blockchain

1) Roadmap

Massive progress on all fronts with organic community growth and use case creation.

See thread for more 👇👇👇👇
2) Secret Network Bridge

14+ ERC-20s -> Secret Token Factor -> Secret Markets -> Secret Auctions
3) Thriving Ecosystem
Read 34 tweets

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