Do Nothing Club

builder Universal and @alongside (alongside.xyz) — Casts that won’t put you to sleep — come /donothing with us

I know this is do nothing but I had a thought about this token structure @gaut 

Since the asset is fully backed - you should allow users to seamlessly redeem or borrow against backing to some reasonable extent. This either enables native leverage long AKT or “utility” of a lower risk index.

you probably don’t think about liquidity enough // it is what it is  // build value, not valuation

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Yeah I keep thinking about it - and it makes the AMKT token more interesting.

For example, you could set the borrow to 100% of the top 2 assets (because they're likely the most liquid). You can self reference for an oracle & the protocol shouldn't have an issue w/ buying back its own token.

Continued…

By allowing borrows of the underlying native, they can take net long exposure to ALL crypto while specifically farming the majors (or just leverage staking).

I would actually use this tbh but wouldn't use naked AMKT

Even more interestingly…you could do a credit account style system (Gearbox, Sentiment) where the user deposits AMKT but can only borrow each of the underlyings into the account. This gives them full access to "do something" but if the health ratio is ever violated, the protocol just takes the entire acct.

Redeem is already fully enabled. Interesting idea with borrows!