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@kuusho

824 Following

1724 Followers

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There's a stablecoin project building on MegaETH that has just as much of my attention now as Plasma. Cap. No cap, that's literally the name. Here's a quick intro. This post covers: - A summary of Type-1 and Type-2 stablecoins - Where does the yield come from? (a type-3 introduction) - Yeah, No Cap. - CAP SUQs

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I remember this!

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shoot me this artefact!

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Putting this here cuz I know the Higher community has archives of deep farcaster Lore! cc: @nishu @clfx.eth @lght.eth @agrimony.eth

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The deeper into Farcaster Loer, the better!

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👋 Hi friends! @kuusho and I are scheming a little bit. We're building out something of a retrospective celebrating iconic moments, memes, and artifacts from Warpcast/Farcaster. And we can use your help! What we're looking for: • Legendary memes (Mole, wowow) • Cultural artifacts (Zorbs/Energy Zorbs, The Horse) • Memorable moments (In-Frame Doom from Cassie, Threadguy handshake) • Notable rugs/drama (Ticker's "dildo on the chart") • Your favorite FC inside jokes and references • Screenshots, images, or links to iconic posts If you're willing, please drop some submissions below👇 Can also quote cast 🔄 Every piece of Farcaster history matters! These will be used as a part of something special we're cooking up 👀

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I would but I am one of the peasants with 42K allo

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That sounds so good doesn’t it?

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Farcaster needs a 10K farcaster-themed Milady derivative airdropped to 10K subscription holders. Something that captures all of farcaster culture from the beginning till now. Active badges, horse, arch, unlonely, higher, wowow, degen, the whole package. Protardio

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Ratifying @procoin governance

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I no get hope there to begin with so only stablecoin posts but here takes priority Abeg

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Thank you! I appreciate the support! I’m moving my shit here for the most part (I no fit pay $120 go dey use X) Besides X engagement isn’t cooking for me

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This would be so sick

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Operators are allowed to borrow cUSD (redeemable at 1:1 for USDT/USDC), explore proprietary yield generating strategies from which minters can secure yield. This flow has mechanisms to ensure minimum yield pegged to AAVE's yield rate and user safety Cap is a first of its kind in stablecoins and you should be paying attention.

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At a high level, "CAP is the first stablecoin protocol to outsource yield generation in a programmatically and fully covered manner." What this means is, yield is generated by, and only by, institution-grade yield generators (known as Operators) backed by large restakers.

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Cap is a Type-3 Stablecoin protocol that makes a promise of safety and minimum yield for users. Promises and assurances made by cap are backed by smart contracts logic built on Ethereum, leveraging its robust security and tools built by other DeFi giants like EigenLayer and Farcaster sweetheart @morpho

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With type-2, these decisions lies in the hands of a DAO (Decentralized Autonomous Organization) and by now we all know why this is annoying. Where does the yield come from? Typically low-risk bond, treasury bases strategies.

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TLDR of Type-1 and Type-2 yield bearing stablecoins. The key differentiator between these types of stablecoins, is who makes the decision of where to get yield from. With Type-1 stablecoins, decisions are made solely by the team behind the protocol. Where to invest, the kinds of assets to invest in, all lie in the hands of the team.

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The XPL public launch is a boatload of big deals: A) Stablecoins are the shit, and with the U.S. starting to lean into reasonable digital asset regulation, the previous point matters more. Increase in stablecoins supply means increase in demand for U.S. treasuries. which makes #2 matter more. B) Musings of an S-tier project i.e. Plasma via its mindshare, the quality of launch partners i.e. @cobie's ICO platform, Sonar for compliance and sale rails, veda labs for the stablecoin deposit vault. C) Public exposure to Tether upside (in some ways) and Peter Thiel's Founder Fund backed stablecoin infrastructure at the same valuation as their strategic round D) trillions. h/t stablewatch.io for the chart.

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