Orthogonal Credit retweeted
There isn't a clear definition of what makes something 'DeFi'. Is it trustlessness? Use of smart contracts?
I would use these 3 questions
1) Funds custodied in a smart contract or your custody?
2) Do the funds move based on smart contract function calls or manual transfers?
Orthogonal Credit retweeted
I feel like I'm stuck in the Emperor's New Clothes rn. SBF is a criminal. His conduct was shockingly deceitful, unscrupulous. Where is the outrage from the press? The righteous indignation? He's NOT WEARING ANY CLOTHES.
Orthogonal Credit retweeted
2022 - not the year everyone wanted, but probably the year we deserved
for context; q4 2019 genesis had ~$60M of loans outstanding, Q4 2021 they had ~$50bn
we are back to effectively 0 cefi credit available in the industry, outside of Maple, which is emergent
ashes to ashes
We couldn’t think of a better framework to move this industry forward. Simple, intuitive, responsible. @ledger @ledger_business
It’s been a tough few weeks for our industry.
Billions in value erased and consumer trust damaged. There is an urgent need for an industry-wide standard for the benefit of both consumers and companies in the #Web3 ecosystem.
This is our vision: bit.ly/banner-LE-website-C4S
In light of the volatile market, the Orthogonal Credit will remain ultra conversative in underwriting new loans and maintain substantial cash position to ensure LPs near-term liquidity demands are being met. 1/n
But, the ability to navigate across all market environments is key to growing long-term trust, and, most importantly, elucidating the value of on-chain financial markets. Orthogonal Credit has demonstrated it’s ability to preserve capital and meet LP liquidity needs… 7/n
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Check out our October Pool updates and market analysis before all of the craziness transpired. We continue to chug along and know that the future is bright for both DeFi and Crypto as a whole. medium.com/@orthogonal_tradi…
Orthogonal Credit retweeted
Places such as @maplefinance and @ClearpoolFin (and previously returned on @truefi) and @ribbonfinance . We want to really thank the protocols above that made this happen for us in the first place, and pool operators @Maven11Capital and @OrthoCredit. Most of all, you lenders!
Orthogonal Credit retweeted
Rough week. But I don't regret the move in-house to crypto. It has made me more comfortable with risk broadly, which makes me a better lawyer. It has battle tested my nerves of steel. It continues to teach me. It enables me to innovate, problem-solve, & think creatively.
We value transparency and accountability, particularly so during uncertain times. We’d like to confirm that we have no Alameda exposure and have not underwritten a loan to Alameda since Feb ’22 in the Orthogonal USDC01 Pool. (1/x) @maplefinance
An unwavering commitment to crypto as an asset class is important during uncertain times; and equally critical is a proactive and methodical approach to risk. The team remains firmly focused on responsible lending standards in pursuit of sustainable credit creation on-chain. (5/x