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🍾 Cork has launched its beta on Ethereum Mainnet! We’re introducing a new DeFi primitive that tokenizes the risk of depeg events. With our key launch partners Lido, ether.fi, , and Sky, Cork is initiating a new phase of DeFi defined by more opportunity, protection, and stability. Tokenized risk... show more
87,507 views • 1 year ago •via X (Twitter)
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Risk is inherent in crypto. As DeFi matures, it deserves more nuanced risk management instruments. Pegged and correlated assets—such as stablecoins, liquid (re)staking tokens, and RWAs—are particularly in need of comprehensive risk management. Collectively, these assets represent over $300 billion in onchain credit.

But this is only a drop in the bucket. In order for the $300 trillion of credit to continue moving onchain, it must have sufficient onchain risk-management strategies. Today in crypto, pegged assets are the most risk-prone onchain credit markets. These assets face inherent depeg risk, threatening cascading liquidations and broader market instability. That's why we built Cork.

Cork tokenizes this risk and creates a peer-to-peer marketplace where it can be traded, priced, and integrated into new financial instruments.

Today, users have three main ways to interact with Cork: 1️⃣ Hedge: protect your portfolio against the risk of depeg events 2️⃣ Trade: trade against the risk of depeg events and benefit if a peg breaks 3️⃣ Earn: provide liquidity to Cork markets to earn fees and premiums

Cork’s beta is launching with four asset pairs in collaboration with our launch partners, letting users hedge, trade, and earn on the depeg risks of: ✔️ stETH ✔️ eETH ✔️ USDe ✔️ USDT

Cork’s beta is now live with limited markets and will become permissionless later in 2025, fostering a growing composable ecosystem. Learn more about Cork, how it works, and how to get started:

Thank you to all our partners who helped us get to this launch, including @a16zcrypto @OrangeDAOxyz @founderheads @IDEOVC @OutliersFund @unboundedcap @SteakhouseFi @galaxyhq @Dialectic_Group

🚀 Ethereum is scaling up! With the gas limit raised beyond 30M and the Pectra update doubling Layer 2 capacity, ETH is gearing up for faster, cheaper transactions. Are we entering a new era for Ethereum? 🔥 #Ethereum #Crypto #Blockchain #ETHUpdate#DeFi

@LidoFinance @ethena_labs @SkyEcosystem Congrats! 👏

@LidoFinance @ethena_labs @SkyEcosystem ❤️
