Whiteboard Video: How Ripe Works

We explain various components of Ripe protocol and how they fit together

Video Notes:

If you want to jump to specific topics or themes.

• Stablecoins, 0:24: Refresher on two key stablecoin designs (fiat-backed vs crypto-backed)
• User Deposit, 2:38: About deposits and strategies framework to generate yield
• User Borrow, 3:51: User loans against deposits/collateral
• Trusted Borrower, 4:35: The protocol itself is a trusted borrower (constraints, policies, and rules)
• More on jUSD, 6:02: the part of the protocol that is algorithmic, and its pursuit of capital efficiency (Deeper dive on blog)
• Bonding Mechanism, 6:56: how Ripe swaps jUSD to USDC (Deeper dive on blog)
• The Endaoment, 8:36: where the USDC goes to be productive, generate yield (Deeper dive on blog)
• Recap (so far), 9:28: Quick recap of everything done so far
• Boosted Yield, 10:05: How the depositor gets boosted yield (Endaoment profits)
• Stakers, 10:48: where a large part of Endaoment yield goes
• NFT example, 11:13: the full fly-wheel of how it would work with an NFT
• Real-world Assets, 11:58: how this protocol is agnostic to collateral types
• jUSD Swaps, 12:58: how the protocol doesn’t always have to depend on Bonding Mechanism
• Redemption Mechanism, 13:24: users can redeem jUSD for something else like USDC (Deeper dive on blog)
• Assets & Liabilities scenario, 14:02: what happens when the user collateral goes to $0.
• Protocol Revenue, 16:42: costs of bonding program cannot exceed protocol revenue.
• $RIPE token holders, 18:05: how value accrues to $RIPE token holders via Endaoment yield (Deeper dive on blog)
• Closing, 19:26: Wrap up, earn yield on everything.

Jump into our Discord to continue the conversation and ask more questions!

Where is Dre?

If you’re wondering where Dre Ham went… well… he was doxxed. I am Dre Ham. A few weeks ago I published a personal post sharing the closure of one chapter, and the opening of a new one.

Here’s the post: Hightop Sunset, Ripe Sunrise (or tweet thread).

A few highlights from that previous post:

• We are going “all in” on contributing to the Ripe ecosystem (Hightop app is paused)
• Shared my Why video for first time publicly — why I wake up every day to work in web3, my life’s purpose
• Shared more of Ripe’s journey, 18 months in making, the breadcrumb hints I’ve dropped along the way
• Shared my DeFi street cred & bonafides — this is my happy place, and it is the future
• Doxxed myself as Dre Ham — Anon no longer.
• Celebrated Hightop and everything we accomplished — the team, culture, brand, community, tech. How clients got ALL their money back + yield ($100M AUM, only DeFi).