jakiro
Author: Chen Mo, the founder of BV DAO Source: X,@cmdefi
Recently, there are many new Ponzi projects. Summary of the special BaselineMarkets $ yes yesterday.
1. No liquidation lending module is the engine of the bulldozer, which was just ignored by most people (including me).Without liquidation, YES, which did not repay the mortgage without repayment, is shrinking.
2. The participation of OHM core members is definitely extra points, which basically offsets DEBUFF such as being hacked before the project.
3. ETH from borrowing is derived from the reserve. In fact, it is essentially the support of YES.If you continue to buy YES with cyclic loans, it is actually what the agreement wants.For users, this is a biggest leverage that does not need to be liquidated.It can be said that it has achieved a win -win situation at this level, and the risk is corresponding.The more ETH is borrowed, the less YES’s support in the previous Floor Price.However, if you consider from a global perspective, if most of the loans are used to buy YES, the price of YES has risen. At the same time, ETH enters the pool again, and the Floor Price will continue to rise to form a positive flywheel.
4. Basically, the OHM (3,3) game is continued.If everyone goes lever to buy and hold, which is equivalent to (9,9), which will form an permanent motivation.Note that there is a key point here that its borrowing design is not liquidated, that is, even if someone leaves the price, it will not cause passive smashing disks because the leverage is liquidated.In other words, even if the price falls, as long as the loan time does not expire, you can continue to hold it.In theory, as long as you don’t want to sell, you can be used as a spot.Although the loan has a deadline, it seems that it can be extended in the official document. I don’t know if this one can be supported.The core risk of this gameplay (except for contract risks) is actually the same as OHM in the early days, or the large households are collectively profitable for sale, that is, (-3, -3).
The writing is rushing, and there are not rigorous places. Welcome to correct.
