The Web3 industry, like Plasma, is heating up with new expectations.
Fintechs and institutions are beginning to issue their own stablecoins and even chains, rewarding users within their ecosystems.
Think of it as the modern version of issuing credit cards.
However, many new stablecoins need agility to grow rapidly with lending.
2/ Unlike established stablecoins, these new ones face a key challenge:
They need to adapt quickly, adjusting their risk, yield, and liquidity parameters as they grow.
But most lending protocols don’t allow that. A single centralized governance decides everyone’s LTVs, rates, and liquidation rules.
3/ Pike provides the solution with a modular architecture.
Instead of one monolithic system, Pike isolates each market, deployed via a Factory contract.
Every new asset gets its own market and dedicated Governor, keeping things efficient and tailored to each issuer.
4/ Governor superpowers? One call tweaks ONLY one market:
• Asset Listings: Add collaterals/borrows
• Interest Rates: Customize 3-slope IRM for liquidity magic
• Risk Params: Dial in LTV, LLTV, penalties to fit the asset's risk profile
• Oracles: Pick dual feeds (ie. Chainlink/Pyth) for secure pricing
5/ Why does this matter?
• Each market can evolve independently
• Risk is isolated — one market’s bad debt won’t affect another
• New or experimental assets can launch safely, even across chains
This enables flexible, fast-moving innovation without compromising security.
6/ Pike’s Role-Based Governance adds another layer of safety by splitting powers across roles:
• Protocol Owner: Deploys & manages roles (admin overlord).
• Governor: Tweaks market settings via timelock for transparency.
• Emergency Guardian: Pauses ops in crises (no param changes, just protection).
• Emergency Executors: Instant actions or proposal cancellations.
7/ This system encourages responsible autonomy. Each market operates independently yet safely within the protocol’s guardrails.
For stablecoin issuers, that means agility to adjust strategies, manage risk, and scale sustainably.
9/ End tweet
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