
David Hoffman|Sep 09, 2025 17:04
What this means:
@ConcreteXYZ has made an uncollateralized USDC borrow from @capmoney_
@RenzoProtocol has used its restaked collateral to underwrite @ConcreteXYZ's loan
Concrete will now go out and get a return on its USDC
It must pay @capmoney_ an interest rate, which goes up or down based on how much of Cap's USDC is utilized by borrowers
@RenzoProtocol takes a cut of the yield.
@capmoney_ gets the rest. Yield gets paid to stcUSD holders (stcUSD is staked cUSD, which is the native collateralized stablecoin of Cap).
If Concrete yolos its borrowed USDC and loses it all, @RenzoProtocol has to repay the @capmoney_ protocol to make it whole.
Hope this helps!(David Hoffman)
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