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Lending, trading and stablecoins without the hype, including how they work and how they fail.
Lenders deposit into a shared pool, and borrowers post more collateral than they borrow. Automatic liquidations protect the pool until they don’t.
The team paused one pool after a suspected exploit. Other depositors are not known to be affected, and a post-mortem is promised.
A stablecoin aims to hold a steady value. How well it does depends on what stands behind it and whether people can redeem it.
Providing liquidity can leave you with less value than simply holding the same tokens, even before accounting for fees.
The team says users were repaid from its treasury after a $2.1M exploit. An outside audit is still pending.
