Racer.Loans
@RacerLoans
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Following
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62
borrow against your friends
Base
Joined September 2023
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Pinned Tweet
Racer is live! 🏁
Leverage your relationships with Racer on
@friendtech
. Link in the tweet below 👇
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A simple proposal for an unopinionated wrapper for FriendtechSharesV1.
Introducing WrappedFriendtechSharesV1, an ERC1155 wrapper for
@friendtech
No fees, no changing base of shares, with the goal of standardizing a design we can all build on top of
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🚨We are super thrilled to announce our partnership with
@UpshotHQ
!
Their ML-powered lending strategies for loan terms generation are going to be fundamental for our protocol!
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🥇First borrow just came through... probably nothing
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1/ is a protocol that's all about getting exposure on keys in a capital efficient way. But what does that mean, and how do we do it? Let's break it down!
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2/ But why are we so excited about our collaboration with Upshot? They understand the potential of financialization and how it can empower speculators.
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I wonder when the FT apes will realize that the app is live (with a ton of ETH deposited to lever up with!)
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5/ Thanks for following along, and a big shoutout to
@UpshotHQ
for being a key partner in this adventure. Together, we're making finance friendlier, more accessible, and more exciting!
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Okay... that happened wayyy too quickly. Citadel 🏰 will be closing at 1k followers.
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🚨 Please note: anyone can use Racer! You don't need to hold our FT keys to gain access.
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4/ Stay tuned for more updates and exciting developments. The future of social financialization and keys utilization is here, and we're leading the charge.
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3/ They have been an incredible partner in helping us bring to you. Together, we're on a mission to democratize access to capital and make sure no one's assets stay idle when they could be put to work.
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We have deployed the contract here:
And we are humbly submitting for the approval from the Friendtech builder community.
If you accept it, we will convert the license to GPL3 for use by anyone building on top of Friendtech.
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- - Borrow now!
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🚨 We've shared some exciting info exclusively to keyholders:
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2/ If you're a
@friendtech
user, you know the power of keys 🔑. They're the gateway to your digital world, but they can also be a speculative asset. That's where Racer comes in.
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@gabrielhaines
They can definitely buy your friendtech keys in a more capital efficient way on
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6/ But that's not all, folks! While we're focused on right now, we've got other speculative social platforms from various chains on our radar. The potential is huge!
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Ideally if we all coordinate on the same standard, we can create path for adoption of WrappedFriendtechSharesV1 by
@friendtech
🤞...and possibly granting chat access for holders
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5/ You can keep your position while the key appreciates in value until the final repayment to get your profit and collateral. This allows you to speculate on the price of the given key and at the same time unlock capital 💰.
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4/ E.g. assuming the value of a key is 5 ETH and the margin is set at 30%. You only have to pay an upfront cost of 3.5 ETH (borrowing 1.5 ETH) in order to get exposure to the key -saving yourself 1.5 ETH upfront.
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@HsakaTrades
hmm airdrop farming... we're the first borrow platform on Friendtech. Lever up, what could go wrong?
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3/ Racer is currently in "borrow-only mode" where users can purchase a vaulted key for a fraction of the full key price.
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We built WrappedFriendtechSharesV1 using the standard Solady ERC1155 contract.
shareSubjects are upcast to tokenIds
buyShares and sellShares mint and burn tokens respectively
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7/ Got questions or want to learn more? Drop us a DM or hop in our chat to stay in the loop. The journey is just beginning, and we'd love to have you along for the ride!
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