onetruekirk.eth (onetruekirk)

Thinking about the possibility of first loss capital staking on @morpho. Would allow curators to cater to multiple tiers of risk preference in the same vault. An implementation of this would be an interesting subject for a grant

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Joining Morpho Labs As some of you may have guessed from my new profile picture, I've recently joined Morpho Labs as a Protocol Specialist. I've known @paulframbot, @mgd, and @merlinegalite for over two years now, and have a deep respect for the team's strong security commitment and first principles approach. While the Credit Guild shutdown was not the outcome we hoped for, I'm delighted to be able to continue contributing at the cutting edge of DeFi lending. To start, I will lead the design and implementation of decentralized governance for the Morpho DAO, a timely issue now that token transferability is under public discussion. Where possible I will continue my tradition of building in public, and will be sharing background research on governance models and preliminary thoughts on the right solution for @morpho in a series of blog posts.

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While we initially planned to simultaneously launch the Credit Guild on mainnet and Arbitrum, leaning towards starting with just the Arbitrum instance for the guarded launch in order to reduce complexity out the gate and focus on showcasing the protocol’s full capabilities in a low gas cost environment

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Joining Morpho Labs As some of you may have guessed from my new profile picture, I've recently joined Morpho Labs as a Protocol Specialist. I've known @paulframbot, @mgd, and @merlinegalite for over two years now, and have a deep respect for the team's strong security commitment and first principles approach. While the Credit Guild shutdown was not the outcome we hoped for, I'm delighted to be able to continue contributing at the cutting edge of DeFi lending. To start, I will lead the design and implementation of decentralized governance for the Morpho DAO, a timely issue now that token transferability is under public discussion. Where possible I will continue my tradition of building in public, and will be sharing background research on governance models and preliminary thoughts on the right solution for @morpho in a series of blog posts.

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Thinking about the possibility of first loss capital staking on @morpho. Would allow curators to cater to multiple tiers of risk preference in the same vault. An implementation of this would be an interesting subject for a grant

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Idea for how it could work : Create a “peg stability module” where vault shares could be used to mint or redeem a deposit receipt at a fixed exchange rate. Holders of the deposit receipt stake-lock for a bonus share of fees. Vault users can opt in to the insurance pool by minting the deposit receipt. New mints allowed only if no bad debt has been realized (vault share exchange rate has not been modified since insurance pool has been created). If vault takes bad debt, users who opted into insurance and aren’t staked-locked can redeem in the insurance pool.

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The goal of this line of research is to create a denomination whose supply characteristics are not controlled by a trusted party, and which is suitable for both long and short term debts Proof of Work is the only known mechanism to define a deterministic cost of production for a digital asset

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