Going to support builders on chain and they're pushing agentic trading.
Sounds good to me
nitter.siddz.com/i/broadcasts/1NGaroNZz…
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This is a good idea. I'll build this in.
If the agents hold robinhood:0x89b76dcdda801f2e456765742c64950eb2a0c93c do they get special treatment? @BorroDev @RobinhoodCrypto
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This is a good question, and I'll put out some literature on it to go deeper but here is the quick and dirty:
Short answer is the mechanism is different depending on if the credit can be redeemed on chain or not.
rCREDIT (Raeto): every credit is backed 1:1 by USDG held in the token contract, and anyone can redeem it on chain for 0.98 USDG. So there's no market oracle. Our Morpho feed reads the reserve directly: price = min($1, reserve / supply). There's no pool to manipulate and no lag. Max LTV is 91.5%, set so a liquidation that redeems the seized credits always repays lenders in full. If USDG ever pauses or freezes the reserve, new borrowing stops automatically.
Orbio's CREDIT (opening soon): it has no on-chain redemption, so we price it from the market, not at face. The feed takes a 2-hour median of the CREDIT/USDG Uniswap pool and counts only real liquidity. It can move only about 18% per 2 hours, inside a band set by its 7-day reference. Max LTV is 38.5%, and borrowing stops if the pool gets too thin to liquidate into.
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This should be a big driver of $BORRO demand as adoption grows.
In the longterm vision for the platform the biggest users are in theory market makers moving size to hedge positions or arbitrage token price gaps thus making the entire robinhood chain financial system more efficient.
Offering fee rebates for a locked amount of $BORRO that scales with how much you borrow is an attractive proposition.
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Current $BORRO utility is as follows but of course I'm always open to suggestions.
- buyback and burn: Borro's platform fees buy $BORRO on the open market and burn it.
- lock it, get Borro's platform fees back: lock $BORRO and Borro pays its own fees on your shorts and loans back to you in USDG every week.
- lock it for a boost: lock $BORRO for up to a year and the Drip on everything you lend goes up to 2x.
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Hello there, thoughtful thread here, I'm always open to feedback!
One thing to clarify, the $BORRO token is not mintable, it's a fixed cap and ~4% has already been burned. There's ~5% dripping out over the next 2 years to incentivize early users of the platform. So no one can be diluted but there is some sell pressure from rewards claiming although at current usage and rates it's incredibly small ~$30 a day. Only ~$50 of $Borro rewards have actually been claimed and sold so far.
I'll spin up a bot today that uses creator fees to match the amount of the drip that can be sold daily so it'll be buying and burning $30 a day of $Borro and will scale as the rewards increase.
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