The Wildcat Protocol is live on Ethereum mainnet https://wildcat.finance Undercollateralised, highly customisable, adaptable Credit facilities for arbitrary ERC20 assets A year in the making, but here we are We want to tell you why we built it and who it’s for Settle in --- Undercollateralised credit protocols exist already We view them as very useful, but too hands-on Borrowers need to be approved by delegates Credit limits must be negotiated Discussions abound concerning underwriting These are distracting from the main point --- *Customisable* credit agreements weren't possible The demand for credit is inelastic Individual circumstances for credit are not If a mechanism for freedom in terms is not on-chain Those agreements will not appear on-chain at all --- Wildcat is designed to be completely hands-off We onboard borrowers, and give them free reign They select asset, maximum capacity, initial APR They choose collateralisation ratios, penalty rates They even choose how long before they pay penalties Then they pick their lenders --- We invert the typical model of credit platforms We do not source willing capital for borrowers to use We give borrowers mechanisms to contract on-chain Who then select who they want to engage with This is not a currently a tool for retail to use for yield --- Won't go into all of the mechanics here, but: Rebasing debt tokens issued for depositors No preferential repayments: one FIFO queue for all Freely adjustable APR and capacity But dropping APR may require more liquid reserves It’s only fair to offer a ragequit --- Wildcat cannot upgrade the code for a market Wildcat cannot change the parameters of a market Wildcat cannot unilaterally shut down a market Wildcat cannot do these things, because we shouldn't It is not our place - we aren't part of your arrangement --- We see this being used by market makers and funds New tokens are often distributed in shadow Wildcat can force terms into the light No more rehypothecation of assets across entities No more opaque agreements to market make PEPE It's time for DeFi entities to use DeFi more --- We're looking into next steps already: we have ideas Right now we just offer vanilla credit facilities Wildcat can be extended with multiple market types Long-dated strike options payable in different assets Minimum deposit periods, bond-like structures Some fever dreams too --- We’re also looking into generalising the lender model Perhaps a borrower doesn’t want to select lenders We can make use of attestation credentials here We built all this technology for selective ID revelation It’s time someone integrated it into a credit facility So we will --- You might be the type that wants to learn more We wrote longer-form stuff for you if so A whitepaper https://tinyurl.com/wildcat-whitepaper A manifesto https://tinyurl.com/wildcat-manifesto A Gitbook with the kitchen sink in it https://wildcat-protocol.gitbook.io You know where we are if you have more questions --- If you want to read the code, you're welcome to We're not sorry about the assembly It's hard to squeeze things into EIP-170 nowadays https://github.com/wildcat-finance/wildcat-protocol We welcome feedback and Immunefi bounty reports --- You should be able to select your own counterparties You should be able to decide on terms that suit you You should be trusted with the freedom to contract The Wildcat Protocol Banking, but worse https://wildcat.finance