Kind of collateral in DeFi will flip in 2027 and crypto collateral will go below 50%. Or we will have a insane bull market. Not sure which outcome I prefer.
Interesting difference in behaviors between @ethereum and @base main @Morpho market. On @base borrowers are stable and a decrease in supply, need to be fixed with an manual inflow of supply (which comes with a lag). On @ethereum , a supply decrease, triggers directly (I guess automatically) a borrower to deleverage its carry trade, vaults to divest from the market. ... Until the borrower comes back because of lower rates which is again compensated by vault allocation (automatic).