Some takeaways from yesterday
1. Hardcoding USDe’s price to USDT saves some $5b of leverage looping position onchain defi, but raises concerns about whether it should be.
2. Some argue CEX should not underwrite for derivative assets for a 1:1 hard pegged (cue Luna).
3. Reverse ratio x backing asset value seems to be still an acceptable compromise. We adapt this for SolvBTC using @chainlink POR.
4. Risk oracle may be more prevalent after this crisis.
5. ADL is a feature for perp. ADL on DEX is more transparent than ADL within CEX. hyperliquid.
6. Liquidation/ Redemption rehearsal, a very important part of the protocol’s risk measures.
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