In this DeFi Dojo AMA, host Stephen speaks with Jusin Bebis, CEO of Byte Masons, about building the future of DeFi.
Read our notes below to learn more.
Reaper’s Utility:
Reaper(simplified yield aggregator) is going to be the back-end of the entire system.
It’s an efficiency and security layer that keeps the money safe and moves the money around efficiently.
Granary’s Utility:
Granary(cross chain lending market) is a peer-to-peer lending market.
It has similarities with AAVE(open source & non-custodial liquidity protocol).
Works like a marketing tool for development work.
Reliquary Utility:
A yield primitive.
Enables users to receive yield without locking their funds.
Works like a perpetual floating rate bond whose convexity increases over time.
Treat your underlying assets as being more valuable if you’re a long-term LP(liquidity provider).
You can withdraw and deposit assets on demand.
Making finance approachable and fun.
Reliquary Unique Features:
Creates onchain SVGs that are served up to users in order to reduce scamming.
NFTs created by Reliquary give users higher yield as time goes by.
Having a fully mature LP makes it harder to dilute positions.
NFTs can be sold on marketplaces or used in governance.
Allows to add a layer of sensitization of gamification and narrows the UX of Reaper into something that is more convenient, easy to interact and easy to understand.
Allows it as a protocol to save a lot of money on incentives since users are earning real yield.
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Insights on OATH Tokenomics and Ethos Reserve:
Ethos Reserve is the engine that drives demand to your network leveraging all the premier features of a decentralized stablecoin alongside its proprietary managed CDP Vaults.
Yield generated through these vaults is able to fund the protocol’s incentives.
Ethos Reserve is a serious non-profit foundation.
Yield in DeFi is going to get a lot more scalable.
Ethos Reserve is self-contained, able to issue interest-free credit at LTV ratios as high as 90%.
An example would be 15 million dollars of Ethos’s stablecoin collateralized at an average of 200% can support an additional 30 million dollars of TVL(Total Value Locked).
Revenue buys back tokens and tokens get emitted back to users.
A positive sum system.
AAVE emitted 360 million dollars of tokens in 2021 and earned less than 30 million dollars in revenue.
A visual example on how vaults work:
Q&A:
Q: What are the underlying assets that can be integrated into Reliquary?
Relying on single stake assets.
Will be working with Spooky Swap(DEX and DeFi hub) and Tarot(DeFi platform) to make an OATH pool that can be supported through Reliquary and Reaper.
Will generally bubble up USDC, ETH or BTC into supported assets using ChainLink oracles.
Q: Is this similar to what RoboVault is doing?
Byte Masons delta-neutral strategies are more risk-off than RoboVault(single asset delta-neutral strategy).
Example of how Reliquary works:
Q: What is MasterChef?
An incentivization platform built by the Sushi Swap(DeFi platform) team that allows you to deposit tokens and earn relative to your share of inputs.
Works like a rudimentary bond infrastructure.
Most used set of contracts in DeFi.
Q: Can you explain how different, similar or completely unrelated to FTX is, from what you are doing?
All of the assets are being deposited into asset strategies.
We are never going to move your asset into a position that isn’t denominated in that asset.
What Byte Masons is doing shouldn’t be seen as similar to what FTX or Celsius but should be seen as a DeFi solution to what they are doing.
We do full total transparency from top to bottom, programmatically ensure that assets can be drawn down to zero and can be facilitated up to 100% bandwidth.
Smart contracts are taking on your money and creating agreements with other smart contracts to generate interest.
We are the solution to shadow banking, dark pools, rehypothecation and the way that TradFi has used and abused these strategies.
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TODAY’S EDITION IS BROUGHT TO YOU BY THE DAILY DEGEN
We are all having problems keeping up with the latest crypto events, whether it’s good or bad news. The Daily Degen is a trusted source curated by rektdiomedes providing daily news on the latest yield opportunities, price moves, hacks, and more.
Staying up to date is the key to taking advantage of opportunities in crypto.
Act now, sign up below to stay informed.