Sept. 29, 2021: Tri, Tri Again ๐ง๐ช
$MIM launches TriCrypto borrowing, plus other cross-chain strategies
The thinking personโs rebuttal to a tax on high income earners is that truly wealthy people donโt earn an income, they simply borrow against their substantial assets.
With DeFi swiftly building TradFi, but better, weโre starting to see whales take advantage of similarly sophisticated strategies. Magic Internet Money conjured up a new such instrument architected off of Curve and Convex.
Itโs why @MIM_Spell is causing many grown adults to believe in magic again.
The galaxy-brained Curve team noted this may be an historic DeFi milestone.
The one-of-a-kind TriCrypto pool is working its way into multiple DeFi products. Badger is one protocol building such solutions:
Notably, this represents a cross-chain solutions that befits Curveโs expanding empire. On Arbitrum TriCrypto is also being utilized in 1Inch
On Polygon itโs been integrated into Mosaic.
We donโt know where exactly TriCrypto has rolled out on Fantom, but it appears to be excessively popular if the current gauge vote estimate is accurate.
Despite the excessive popularity, scholars and philosophers are still wrestling with the complexities of what the pool actually represents.
Despite TriCryptoโs published source code, the mathematics have proven elusive.
Reading the docs does suggest a potential attack vector on the pool. Simply drive the the price of Bitcoin and Ethereum back below a dime. Regulators can dream!
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All proceeds from subscriptions go to support crypto activism at PAC DAO, where the community is manifesting the power of digital democracy upon democracy v1.x. Nothing in our newsletter can be construed as financial or legal advice. The newsletter is the authorโs independent opinion, no opinions are affiliated with that of Curve. Author is a $CRV/$CVX maxi but has no stake in the whale toys described herein.