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https://opensea.io/collection/nouns
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gami.eth
@gami.eth
Nouns Fund Ideas ↔ Ideas Fund Nouns My new proposal invites Nouns to lend $420,000 USDS to IMF Credit Cartel, a crypto native credit union building community coordinated credit on Ethereum Put your noggles on, we've a story to tell with memes of course, so read on... ⌐◨-◨
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gami.eth
@gami.eth
TLDR (promise there's more memes otw) The funds will earn around 20% APY by supplying liquidity to the MOG-USDS market, secured by Morpho's robust and battle-tested infrastructure. This is not a grant. It’s a trustless, reversible loan. Nouns earns yield, supports a culturally aligned protocol, and helps close the loop. Laying the foundation for NOUNS to fund ideas and be funded by them. Ok, back to the memes...
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Joshua Fisher ⌐◨-◨
@joshuafisher.eth
Can you share a bit about the potential risks here?
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gami.eth
@gami.eth
the usds would only be exposed to our mog market. fully isolated. no cross collateral contagion. to prevent bad debt, liquidations are automatic and limited to they isolated market. no protocol-wide risk. contracts are immutable, by morpho, and battle tested. main risk would be underperformance of the mog/usds market. but we’ve been working hard to coordinate the community. morpho dao approved interest rate model. variable based on utilisation https://docs.morpho.org/overview/concepts/irm/
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