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https://opensea.io/collection/nouns
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Gami 🌐
@gami.eth
Nouns are invited to lend $420k to the International Meme Fund, a crypto-native credit union building community coordinated credit on Ethereum ⌐◨-◨ https://www.nouns.camp/proposals/786
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Ben
@jarmen
To high LTV ratio imo, 77% seems reckless. And opening the dao up to bad debt positions.
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Gami 🌐
@gami.eth
Bad debt is prevented by comprehensive liquidations engine. Morpho have a novel mechanism where liquidators don’t need to be capitalised. Whoever is first to a liquidation can take the collateral from the position at no cost, so long as the collateral is sold and debt repaid in same transaction. Our bots are built specifically to serve this function reliably, as well as the open market for Morpho liquidations. Extensive back modelling shows no sufficiently short term candle presents a scenario where liquidations can’t be safely executed with select assets and parameters.
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