Everything Protocol Solves DeFi by Deleting the Price Oracle, the Part Attackers Keep Breaking
Decentralised finance currently holds about $76 billion spread across more than 8,000 protocols on more than 500 chains. The average protocol therefore holds around $9.5 million, which is not enough liquidity to price a serious trade, absorb a serious liquidation or survive a serious attack.
On Wednesday, Everything Protocol published a whitepaper arguing that the arithmetic above is a consequence of an architectural assumption nobody has revisited. The assumption is that trading, lending, leverage and limit orders each require their own pool of capital. The paper proposes collapsing all four into a single reserve per token pair, so that the same liquidity prices swaps, backs loans and leveraged positions and supports resting orders at the same time.
The company is the successor to SMARDEX, and its founder Jean Rausisframed the transition when the protocol was first announced in December, saying the goal was to let teams launch...
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