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The #LSDfi narrative has a new player in town, @raft_fi.
Its TVL has risen to $30M less than a week after launch!
We have created a @DuneAnalytics dashboard to help you follow their development.
Let's dive in🧵
Its TVL has risen to $30M less than a week after launch!
We have created a @DuneAnalytics dashboard to help you follow their development.
Let's dive in🧵
1/
This thread will include:
• Raft's protocol
• $R stablecoin
• Remarkable launch results
This thread will include:
• Raft's protocol
• $R stablecoin
• Remarkable launch results
2/
What is Raft?
Raft allows people to generate $R stablecoin by depositing $stETH and $wstETH with:
• Capital efficiency
• Robust incentive & stable peg mechanism
• Deep and instant liquidity across numerous trading pairs
What is Raft?
Raft allows people to generate $R stablecoin by depositing $stETH and $wstETH with:
• Capital efficiency
• Robust incentive & stable peg mechanism
• Deep and instant liquidity across numerous trading pairs
3/
Users are required to borrow at least 3K $R with a minimum collateral ratio of 110% for each $R.
The borrowing rate is the sum of the Base Rate and Borrowing Spread and is capped at 5%.
The current borrowing rate is 0.01% (borrow 3K $R, the fee is 0.3 $R.
Users are required to borrow at least 3K $R with a minimum collateral ratio of 110% for each $R.
The borrowing rate is the sum of the Base Rate and Borrowing Spread and is capped at 5%.
The current borrowing rate is 0.01% (borrow 3K $R, the fee is 0.3 $R.
4/
There are 3 methods of returning minted $R:
• Repayment: Repay your borrowed $R tokens in Raft and gets $wstETH
collateral
• Redemption: Redeem $R for other borrowers for $wsETH collateral
• Liquidation: Recieve $wstETH + Liquidation Reward from Liquidators
There are 3 methods of returning minted $R:
• Repayment: Repay your borrowed $R tokens in Raft and gets $wstETH
collateral
• Redemption: Redeem $R for other borrowers for $wsETH collateral
• Liquidation: Recieve $wstETH + Liquidation Reward from Liquidators
5/ Peg mechanism
R uses both Hard Peg & Soft Peg to maintain its peg value of 1 USD.
Hard Peg: Use redemptions & over-collateralization to facilitate arbitrage opportunities
Soft Peg: Incentivizes users to act based on the expectation that the peg will be kept in the future
R uses both Hard Peg & Soft Peg to maintain its peg value of 1 USD.
Hard Peg: Use redemptions & over-collateralization to facilitate arbitrage opportunities
Soft Peg: Incentivizes users to act based on the expectation that the peg will be kept in the future
6/
Let's analyze the performance of Raft in more detail using our new Raft Dashboard.
The $R dex trading volume continues to increase with the current volume of $3.5M.
The 3 main pools remain highly liquid, with R-wstETH leading the charge (worth $17M).
Let's analyze the performance of Raft in more detail using our new Raft Dashboard.
The $R dex trading volume continues to increase with the current volume of $3.5M.
The 3 main pools remain highly liquid, with R-wstETH leading the charge (worth $17M).
7/
In less than a week, their TVL has reached $30M (15K $wstETH).
Their stablecoin supply is on a tear also, reaching $17M in total.
In less than a week, their TVL has reached $30M (15K $wstETH).
Their stablecoin supply is on a tear also, reaching $17M in total.
7/
With the outstanding launch and innovative features of Raft, the $R stablecoin has taken the #LSDfi market by storm.
Can it reach the top soon?
Track Raft's performance with our Dashboard here: dune.com/the_datanerd/r…
With the outstanding launch and innovative features of Raft, the $R stablecoin has taken the #LSDfi market by storm.
Can it reach the top soon?
Track Raft's performance with our Dashboard here: dune.com/the_datanerd/r…
Hope you have found the thread helpful.
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