The central theses
- Rari Capital has started an open interest protocol called Fuse.
- With Fuse, anyone can create their own pool of credit with any asset.
- Several pools have been started, including one with ETH, SOCKS and DAI. Users will soon be able to create their own.
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Rari Capital has implemented an open interest protocol that supports all assets.
Rari Capital introduces personalized credit pools
With Fuse, users can create a pool and choose their own assets, yield curves and oracles. Any user can then trustlessly enter and exit the pools without consulting a DAO.
Isolated credit pools are a first for DeFi. In addition, the ability to lend and borrow assets is a radical advancement unlike any other platform in the traditional world. In a Twitter post, Jay Bhavanani, CEO of Rari Capital, said the effects of such a product were “as frightening as it is amazing”.
He described Fuse as a tool that “anyone can use to make their own connection”. With DeFi protocols like Compound and Aave, anyone with an Ethereum address can trustworthy enter and exit pools for borrowing and borrowing. However, users cannot currently create their own pools.
In a blog post announcing Fuse, Bhavnani said:
“The effects of such a product are massive and unexplored. I see the product swallowing up all the value in the world. ”
Rari Capital partners with Chainlink, DeFi’s most popular decentralized oracle.
The Rari DAO has already set up several pools, including one in which ETH, SOCKS and DAI can be borrowed or provided as collateral. SOCKS is a cult DeFi token created by the Uniswap team. It was sold on a bonding curve and can be redeemed for a physical pair of socks. It is currently trading at $ 87,922.
The ability to post an asset as collateral means that countless other, less conventional assets could one day appear in Fuse’s pools.
According to Bhavnani’s Twitter post, users will “soon” be able to create their own pools.
The announcement indicates that more price feeds for Balancer LP tokens, Uniswap LP tokens, Curve LP tokens, Yearn LP tokens and Alpha-Homora LP tokens will be added in the future.
Fuse’s total locked down value is currently just under $ 2.5 million.
At the end of the note, Bhavnani wrote:
“Have fun exploring the future of finance. To be honest, even beyond finances. Have fun exploring the future. ”
Disclosure: At the time of writing, the author held that role at ETH, ALPHA, and AAVE. They were also exposed to UNI, COMP, BAL and YFI in a cryptocurrency index.
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