Polaris Finance测试网上线：负利率借贷与pETH抵押品体系

Here's a first look at @polarisfinance_ in testnet, a new CDP protocol launching on Ethereum later this year where you actually get paid to borrow.

Imagine negative interest rates on pBTC and pGOLD. Plus simple USDp savings earning.

All onchain, immutable, and no multisigs.

Polaris is built by a team that's invested years into how to build a truly permissionless financial layer open to everybody, with transparent and verifiable rules.

The team's roots are in protocols like @LiquityProtocol and deeply influenced by their principles.

Polaris will be according to their new docs... "a permissionless onchain infrastructure built around pETH, a yield-bearing reserve asset designed to collateralize censorship-resistant stablecoins and synthetic assets.

ETH enters the system through the Polaris bonding curve and becomes pETH, the collateral asset at the center of the ecosystem. Stablecoins, commodities and synthetic assets are all issued against pETH, with the economic activity they generate flowing back into the ecosystem."

USDp will be a fully decentralized and censorship-resistant dollar backed by pETH. Built on the same infrastructure, GOLDp will be the first permissionless onchain market, with more currencies, commodities, and synthetic assets coming soon.

Interestingly, pETH isn't just collateral for the system. It can also be split into fpETH and vpETH: fpETH represents the ever-rising floor price of pETH as a standalone yield-bearing asset, while vpETH isolates its market premium and volatility.

These primitives may be combined to enable non-liquidateable ETH loans, carry trades that turn traditionally non-yield-bearing assets into yield-bearing ones (ie gold), and capital-efficient DeFi looping.

Watch the screenshare below led by Polaris CoFounder @0xluude from The @Edge_Pod 😇