Hi folks — we built a new product at @coinbase that lets you borrow USDC against Bitcoin, fully onchain and dead simple to use. 

We call this the DeFi mullet. CeFi in the front and DeFi in the back. 

This was a year long project with first principles thinking. 

➡️ Doing an AMA through the weekend. Fire away questions or thoughts.

DeFi

Actually - the best next onchain abstraction would be yield on USDC (including Morpho rewards). 

This teaches new users 1) yield onchain is huge and 2) you can get rewards 

Coinbase should be the curator/assure no bad debt & assume the risks (eg lend isolated to cbBTC and cbETH)

- how do you prioritize integrations or protocols?
- does Coinbase layer on their own security (like Hypernative)? Or provide additional audits?
- do you simply notify when LTV is dangerous or will you have a repay feature like DefiSaver?

Product @ Coinbase. Techno optimist 🛠️

- how do you prioritize integrations or protocols?
- does Coinbase layer on their own security (like Hypernative)? Or provide additional audits?
- do you simply notify when LTV is dangerous or will you have a repay feature like DefiSaver?

https://warpcast.com/langchain/0x15dbe107

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

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I wish more borrow lending protocols copied DefiSsver UI. It’s the perfect simple understanding of key functions (boost, repay, withdraw) while displaying critical things like liquidation price and rate. 

As a user I’d also like to know accrued interest as I keep a loan open. But repay is my most critical function. 

Thanks for the responses!

1. Simply put — UX and user safety come first followed by the technology itself. Prioritize based on the merits of the protocol traction, usability and the team itself. 
2. Depending on the layer in the product, we do add security controls and mitigations to safeguard users. We take audits and engineering practices seriously and it’s #1 requirement from our side. 
3. Notifications for now but self repay / defi saver feature can come later. What do you think the experience should look like for that?