was looking through the vault design for @TermMax and found one detail worth noting.
The vaults use ERC-4626, so the basic deposit and withdrawal structure follows a standard that already exists across DeFi.
But the vault isn't completely unrestricted.
It can manage lending and two-way range orders, while direct collateralized borrowing isn't allowed.
That restriction actually makes sense when you consider that the vault holds other people's deposits.
There has to be a boundary around what the curator can do.
I think those boring constraints are sometimes MORE important than the flashy features.
They tell you how a protocol thinks about risk.
That’s the section I’m spending more time on now.
#TermMax
The vaults use ERC-4626, so the basic deposit and withdrawal structure follows a standard that already exists across DeFi.
But the vault isn't completely unrestricted.
It can manage lending and two-way range orders, while direct collateralized borrowing isn't allowed.
That restriction actually makes sense when you consider that the vault holds other people's deposits.
There has to be a boundary around what the curator can do.
I think those boring constraints are sometimes MORE important than the flashy features.
They tell you how a protocol thinks about risk.
That’s the section I’m spending more time on now.
#TermMax
