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Can Decentralized Social Scale? | Stani Kulecov (Lens, Aave)

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Spark Credits: A Masterclass in Mechanism Design

The llama lending protocol and CRV USD stablecoin is a masterclass in mechanism design. The key innovation really with the lending protocol is around the liquidation mechanism. Right now there's only one listed collateral. It's state-frax ETH, that's the yield accruing version of frax ETH,. And it launched with a $10 million debt ceiling. So we've already seen an initial pretty good onslaught of demand.

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