Zhu Su: Wildcat's high interest rate is determined by the market with the consent of both parties

On March 12th, Zhu Su posted on social media that Wildcat's uncollateralized lending protocol looks completely fine, essentially issuing short-term commercial paper by market makers (MMs) and other entities, with a floating price being a great innovation. In fact, if this protocol had existed in the previous cycle, Three Arrows Capital would have had a much easier time restructuring, as its credit could be traded on the public market and used to repurchase debt. In the long run, as long as there is enough time, the default rate of everything will tend toward 100%. During this period, the market will determine the Intrerest Rate as long as borrowers and lenders are willing. Similar protocols would also be very useful for Bitcoin Miners in the previous cycle. BlockBeats previously reported that the encryption market maker Wintermute has created the Wildcat V2 market, seeking around 75 million US dollars in public credit, supporting USDC/USDT (annual Intrerest Rate 12%), WETH (4%), and cbBTC (3.75%).