The Power of Open Financial Primitives
summary
Live on Ethereum since May 2018 and issuing roughly $150K in peer-to-peer loans, the protocol encodes loan templates as terms contracts (Solidity interfaces), borrowers submit signed debt orders, lenders receive tradable debt tokens representing repayment rights, and matching runs via relayers or underwriters who vouch for unsecured credit. Developer tooling includes Dharma.js and a relayer kit to spin up orderbooks; examples built include NFT-backed collateralized loans and programmable, trancheable pooled debt (CDO-style) administered entirely by smart contracts.
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chapters (16)
- 0:00Start
- 1:37How To Get Started
- 1:58World Economy Runs on Debt
- 2:57The World's Debt Capital Markets
- 3:40Global Debt Market Cap
- 5:20Escrow Agents
- 6:22Cdo
- 7:21Debt Markets Lack Universal Accessibility
- 9:25Universal Accessibility
- 10:19Terms Contract
- 14:200x Protocol
- 15:54What an Underwriter Does in Dharma Protocol
- 18:20The Real Lair Kit
- 19:23Collateralized Collectibles
- 20:43General Structured Financial Instruments
- 21:43Conclusion
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