THE REGISTER
Dollars in, a share out.
Lenders put USDG in one pool and hold sesUSDG, a share that rises as borrowers pay interest. The rate is a function of how much of the pool is out on loan; a tenth of the interest is set aside for the scribe. Withdrawals come out of cash: what is lent comes back as it is repaid or liquidated.
THE POOL
In the pool
0
USDG cash
Lent out
0
USDG owed
Utilisation
0.0%
of the pool
Share price
1.0000
USDG per sesUSDG
Borrowers pay
0.00%
a year, per second
Lenders earn
0.00%
a year, after the take
The take
0
USDG set aside · 10% of interest
Kink
80%
2% + 8% to the kink, +100% after
THE PARAMETERS THE SCRIBE GOVERNS
- Market volatility over the horizon
- 5.0%
- k to open / k to hold
- 3.00 / 2.20
- Liquidation bonus
- 5%
- Target health after a cut
- 1.10
- Where the take goes
- 0x00000000…
The pool opens the day the contracts are deployed. The numbers on the left are the launch defaults.