Mori, discover this new DeFi project. Here are the features of this new ecosystem and direct access to its official website.
Mori is a next-generation native stable asset DeFi protocol built on Ethereum. It generates low-volatility stable assets without any loss by collateralizing ETH. Additionally, users have the option to create asset twins as a hedging mechanism against ETH price fluctuations, allowing for cost-free long positions on ETH without the risk of liquidation.
Mori, project features:
Motivation
Stablecoins are a crucial component in building the infrastructure for DeFi. Currently, there are various attempts in the market, but each of them has its own issues. For example, fiat-backed stablecoins like USDT and USDC are subject to centralized regulation. Any fluctuations in the reserve backing can quickly impact the stablecoin’s price, as seen in the case of the bank crisis in March this year, which led to the depegging of USDC. On the other hand, stablecoins like LUSD have ETH as the underlying collateral and are controlled through smart contracts. However, they face limitations in terms of capital efficiency and scalability, lagging behind fiat-backed stablecoins in terms of scale.
Mori is a project that offers a new type of stable asset that is not pegged to the US dollar, but is instead issued on the basis of native ETH assets, fully regulated by smart contracts.
Protocol
Mori is a native stable asset protocol built on ETH and its LSD. The protocol divides the volatility of ETH into low-volatility stable assets and high-volatility derivative assets. Taking ETH as an example, users can choose to hold high-volatility ETHC (ETH Coin) assets and low-volatility ETHS (ETH Stable) assets based on their risk preferences. Mori is currently in the internal testing phase and has plans to increase token diversity and asset composability and to launch on Layer 2 network in the future.
The Mori Protocol aims to offer an alternative risk/return profile through a single primary fund that mirrors the performance of a particular underlying asset. It utilizes LSD (Liquid Staking Derivatives) as its foundation. Initially, the protocol relies on ETH staking assets issued by Lido Finance and stETH as its core elements. However, there are future plans to incorporate additional LSD assets into the protocol.
Overview
stETH can be split into two different tokens: ETHS (ETH Stable) and ETHC (ETH Coin), which cater to users of different risk preferences. ETHS is effectively a stablecoin like volatility product, while ETHC is a leveraged long ETH perpetual product.
ETHS been designed as a low volatility token:
- Stablecoin-like token backed by ETH
- Minimizes volatility
- Earn additional LP (ETHS/USDC) revenue
ETHC been designed as leveraged long ETH perpetual token:
- Leverage long on ETH
- No forced liquidation
- Emergency control mode to reduce the leverage of ETHC
The collateral for the Mori protocol currently only supports stETH. Users can independently decide the ratio at which ETH is split into ETHS and ETHC. Conversely, users are also free to convert any ETHS or ETHC into ETH.
Discover the new DeFi protocol and all the advantages it has to offer.
Direct access to the official website
