Hoyu
@hoyu_io
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Hoyu is a DeFi protocol uniting lending and trading markets to give every token new utility as safe collateral.
Joined September 2022
Looking to understand the Hoyu protocol in-depth? We have a 45-minute whiteboard interview just for you.
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Hoyu tackles the daunting issue of bad debt head-on by introducing dynamic lending limits based on real-time market data. Traditional #DeFi lending can be risky, with volatile markets leading to unpaid loans. Hoyu's approach ensures safer lending by adjusting credit limits as market conditions change, effectively reducing the risk of bad debt. This dynamic adjustment not only protects the platform and its users but also promotes a healthier, more sustainable lending environment. By prioritizing safety and adaptability, Hoyu is paving the way for a future where #DeFi lending is both secure and resilient for #Web3
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In bullish markets, many find their less popular tokens surge in value but can't use them as collateral in #DeFi—limiting their financial leverage. Hoyu changes this, accepting a wider range of tokens in its AMM pools. This opens up borrowing opportunities for #Web3 users holding these emerging tokens, democratizing DeFi access and recognizing the potential of a diverse range of #Altcoin assets. By doing so, Hoyu not only broadens the DeFi ecosystem but also enhances liquidity and utility for lesser-known tokens, supporting the growth of new projects and encouraging a more inclusive financial landscape.
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@Olga15188409 @SeiNetwork @mrktexchange @PixelRealmlabs We'll be wroking hard to unlock the DeFi's potential for all #seiyans🌌
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No bad debt on Hoyu. Also, no TWAP or oracles. Soon 🌌
looks like comp v2 just ate about 3m of bad debt from the UNI +40% candle which didn't oracle update fast enough multiple mev bots managed to create accounts like these defi 1.0 violence
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RT @tokendynamics: Hoyu solves the problems common to borrowing and lending protocols rather uniquely 😲 Listen to the full episode with @h…
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No governance is the way 🌌
If you thought governance was all a farce, just imagine how much worse it's going to get. The best DeFi protocols are those built a minimal reliance on governance. Ideally it should be NONE. This blog post by @TokenBrice gives you a feeling for the behind-the-scenes clown shows that regularly take place at many of the protocols that flaunt professionalism and high levels of expertise.
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The Hoyu code is progressing at a good pace: - Adjusted borrow limit - Using timestamp instead of block number - Reworked TickMath library - Reworked liquidations - Other adjustments, fixes, cleanup and renames
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The team is closely monitoring unusual behavior on the RLB market. This behavior is isolated to RLB market; AMM trades for this market have been paused. Drift DLP stakers will not be affected. Your funds are safe. All other markets are unaffected as they are isolated.
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Now, research shows that k=x*y's are also competitive for the largest of assets on chain, and even when concentrated liquidity pools with much lower fees are available 🌌
Just published new Uniswap research: "Is v2 still a good deal for liquidity providers? A retrospective of 2023" Link below!
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Credible neutrality = no overlords + open source + simple + immutable 🌌
Ive been thinking recently about credible neutrality as a guiding principle for the future of how we earn money The 4 rules @VitalikButerin laid out in his 2020 piece really helped me connect the pieces 1. Don't write specific people or outcomes into the mechanism They should be emergently discovered from participants actions; for eg election voting as input & public office as output; like as input & content visibility as output; bids as input and item sold as output 2. Publicly verifiable execution of the rules by any participant 3. Make it simple, so there is less space to insert hidden privileges 4. Ossify and don't change the mechanism too much Until we get to a point where we have credibly neutral mechanisms for all jobs, we need to balance with efficiency; otherwise we'll have miners paid a ton while core devs or content creators won't receive anything becoz we don't know how to allocate fairly to them In the absence of credibly neutral mechanisms, limit profligacy with a schelling fence that allocates funding based on external parameters (time, revenue earned, etc)
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Supporting all assets with no oracles 🌌
Rodeo's hack among so many others raises serious questions for the need to explore alternative models beyond oracles to support long tail assets. Every lending protocol that supported long tail assets got hacked at some point and the larger ones(that didn't) delisted all of them. Probably oracle-less is the only way to support long tails but currently non-scalable.
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