TM Rating: 80% |
Review Date: February 2nd, 2022
The Risedle Leveraged Token protocol is a peer-to-peer system designed for leveraging any ERC-20 tokens on an EVM compatible or equivalence blockchain. There are two components of Risedle Leveraged Tokens protocol: Risedle Vault, the isolated lending & borrowing protocol specially designed for Leveraged Tokens, and Risedle Leveraged Tokens, ERC-20 token that represent leveraged position of an underlying asset.
The protocol is implemented as a set of persistent, non-upgradable smart contracts, designed to prioritize censorship resistance, security, self-custody, and to function without any trusted intermediaries who may selectively restrict access. Users can interact with the protocol either by supplying USDC to the Risedle USDC Vault and earning interest on it, or by getting leveraged exposure by minting and holding leveraged tokens.
Developed by Risedle Labs, the protocol debuted at ETHOnline hackathon late last year and stood out from the crowd of other projects, ending as a ﬁnalist. Following a ﬁrst launch on testnet after the hackathon and extensive development, the team is getting ready to launch the project on mainnet in coming days/weeks.
Risedle Leveraged Token protocol is the ﬁrst protocol that creates lending and borrowing specially designed for Leveraged Tokens. A protocol speciﬁcally designed for lending & borrowing or leveraged tokens have multiple beneﬁts:
- Risk Isolation: Anyone can create leveraged tokens market pair (vault as the supply & leveraged tokens as the demand) without worrying to add more risk to existing leveraged tokens market pair.
- No Liquidation: Risedle Leveraged Protocol does not have a liquidation bot, it has a rebalancing bot instead. The user who borrows assets from the vault by minting the leveraged tokens will never get liquidated.
- Hands-free Borrowing Experience: There is no such thing as health ratio, loan to value, or other complex stuff. The user just needs to hold the leveraged tokens to get leverage exposure.