The Wildcat protocol brings configurable undercollateralised credit rails to Ethereum - your markets, your terms
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We’re doing an airdrop for our earliest supporters: follow and drop your address or ENS in the replies!
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We appreciate this healthy response
Every respondent has been added to a blacklist and will be receiving an untransferrable Sepolia token indicating as such
All wallets two hops in or out will be ineligible to use the protocol or any real airdrop in future
Thank you all
We’re doing an airdrop for our earliest supporters: follow and drop your address or ENS in the replies!
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The Wildcat Protocol is live on Ethereum mainnet
wildcat.finance
Undercollateralised, highly customisable, adaptable
Credit facilities for arbitrary ERC20 assets
Over a year in the making, but here it is
We want to tell you why we built it and who it’s for
Settle in
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Wildcat Labs raised venture capital. US$3.5 million of it.
We are extremely grateful to our lead @robotventures, as well as @triton_xyz, @0xPolygon, @hyperithm, @safefndn, @KronosResearch and Hermeneutic Investments.
The round was also joined by a horde of angels, namely @joeysantoro, @Ja_Brann, @big_tech_sux, @nightelf, @cryptofelon, @SuperAggo, @bob_hlbok, @andyhyfi, @networkspirits, @0xKaonashi and @k3yser1.
A quick thread on what this means for Labs, and Wildcat itself going forward:
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Wildcat Labs is delighted to announce that Wildcat V2 is live and open for public usage today, under the stewardship of the newly created Wildcat Foundation.
wildcat.finance
A slightly wordy thread from our point of view on what this enables, where things stand now and our vision going forward.
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The markets may look like a warzone, but that doesn't stop the need for credit expansion in crypto.
Wintermute (@wintermute_t) have created Wildcat V2 markets seeking ~$75 million in public credit via USDC/USDT (12% APR), WETH (4%) and cbBTC (3.75%).
app.wildcat.finance/lender
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You can get 12% APY on your stables w/ @wintermute_t, or you can get 14.4% (!!) with Selini.
How do we pay more?
Well-- they threw away your extra 2.4% yield by giving it to their branding agency for a "visual refresh".
We got our intern to do it, and pass on the $$ to you.
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So, Wildcat has seen a pretty significant drop in TVL over the last couple of days: 162 -> 114 million as lenders withdraw their credit lines given the flash crash on Friday, with more pending in queued up batches
As much as it sounds like cope, this is *precisely* what we want to (and the market should demand to) see - solvent borrowers returning large amounts of unsecured capital on demand in the face of confusion
It shows that the public credit marketplace model is working for all to see, and we're expecting the majority of it to return once there's clarity on the underlying cause
TL;DR - we didn't hear no bell
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As of today, we are actively handling undercollateralised credit facilities on Ethereum mainnet
Wintermute is using Wildcat to implement a 100 Bitcoin loan paying 5% APR, with a 10% reserve ratio via their Wintermute Wrapped Bitcoin market
It's nice to be out the gates
Onwards
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Wake up babe, new version of whitepaper just dropped
github.com/wildcat-finance/w…
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We noticed that you like lending stablecoins more than most other assets, so it makes sense for us to appear at ground zero of a stablecoin solution
Wildcat is coming to Plasma
Trillions
Payment financing is a crucial part of the payments stack as real-time clearing requires short-term credit.
Today, we are thrilled to announce our partnership with @WildcatFi to build a transparent private credit layer for a new global financial system on Plasma.
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Wildcat V2 now has more TVL than Unichain, Ontology, Moonbeam or Abstract
Honestly though, the one we're happy about over at Labs is Apechain
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Market on the precipice on meltdown due to collateral issues? Don't know where funds are sitting? Unsure what loans are currently in force?
We can help.
Let's end the markets together, anon. Forever.
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Split Capital (@SplitCapital) has just created the Split Capital Plasma TVL USD Coin market, seeking 5,000,000 USDC at 18% APR.
Their offer is to buy 'your' XPL in the form of fixed yield, Pendle-style, in that if you believe they've mispriced it, you should take them up on it:
The @PlasmaFDN public sale of XPL has been one of the most interesting new markets in a long time, especially with recent changes.
Matrix of projected ICO returns below:
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Selini Capital (@SeliniCapital) is a global trading firm focused on systematic trading and venture investing.
Selini has launched open-term Wildcat markets for USDC and USDT, each seeking $2 million at an APR of 14.4%.
app.wildcat.finance
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Look, we honestly just didn't prep these fast enough, and necessity is the mother of invention
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Mr President, a second borrower has hit Wildcat.
CMS (@cmsholdings) has just launched a Wildcat V2 USDC market, seeking $1 million in credit at 12% APR.
app.wildcat.finance
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Regrettably, Kinto have announced their intention to shutter operations, and have stated that they have insufficient assets to repay the full debt incurred by the Kinto Phoenix Facility market.
Thread:
1/ 🛑 Kinto is shutting down.
After exhausting every path to keep going, we’re conducting orderly wind-down to protect users and community.
- Users can normally withdraw assets
- Phoenix lenders receive ~76%
- Morpho Victims can claim up to $1.1k each
Read full details 🧵
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Kinto (@KintoXYZ) has opened a fixed-term USDC market on Wildcat—kPhoenixUSDC, aiming to raise 750 000 USDC at 50 % APR. Principal + interest come due 30 Sep 2025, providing an on-chain credit line to recapitalize liquidity and repay users after the recent proxy exploit.
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Good morning
Our lawyers didn't burst into tears when they saw this
So now you can see it too
This will evolve, it's not the mainnet variant
github.com/wildcat-finance/w…
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This is why we're here
NEWS: New protocol takes a stab at undercollateralized DeFi lending
blockworks.co/news/undercoll…
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As of today, you can use Wildcat to lend USDe to @hyperithm and accrue 20x Ethena points at the same time for a market-leading overall rate!
app.wildcat.finance/lender/m…
Our thanks to the Ethena ecosystem for working with us on this - hopefully the first of many such markets!
Up.
USDe utility continues to expand in DeFi
The first @WildcatFi USDe-based market has gone live today
Users can now lend USDe to @hyperithm for 11.5% APR, along with 20x Ethena Points
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They don’t know we’re organising a party at @EthereumDenver
Our team will be there, presenting and discussing everything on-chain credit (while standing in the corner)
Let us know if you’re going to be there and want to meet up!
We even paid for the drinks
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Today we're releasing the Wildcat V2 whitepaper
Credit markets by you, for you
* Configurable access mechanisms,
* Fixed duration lockups,
* Constrainable debt transferability,
* Minimum deposit limits, and more
Link here, full paper follows in replies
tinyurl.com/wildcat-v2
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In spite of every single thing in Cannes costing at least a hundred Euros, Wildcat broke US$150 million in TVL during EthCC
Optional collateralisation and per-market profiling coming soon
Up
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Amber Trading, the trading wing of Amber Group (@ambergroup_io) have created twin open term USDT/USDC markets, looking for up to 20,000,000 in credit for each at 11% APR.
In their own words:
"As the trading arm of Amber Group, we are dedicated to becoming the global leader in digital asset trading, delivering deep, reliable liquidity and innovative solutions across both centralized and decentralized markets.
Backed by top-tier investors including Paradigm, Sequoia, Coinbase Ventures, and Fenbushi Capital, we support 50+ exchanges worldwide—ensuring 24/7 market making with narrow spreads, deep order books, and transparent price discovery."
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Given demand, the @wintermute_t V2 market USDC maximum capacity has been increased further to $50,000,000.
There is no supply-side crisis, I love you
The @wintermute_t Wildcat V2 USDC market maxed out at $20,000,000 last night, and has increased its maximum capacity to $30,000,000 ten minutes ago.
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We’re excited to support the launch of mWildUSD by our partners @MidasRWA, @ethena, @Re7Labs, and @PlasmaFDN
It’s a pre-deposit vault giving early access to a tokenized certificate referencing stablecoin yield strategies on Plasma with the aim to provide capital into Wildcat markets.
Introducing mWildUSD, a pre-deposit vault is structured to provide early access to a tokenised certificate referencing stablecoin yield strategies on the Plasma blockchain.
Built in partnership with @WildcatFi & @PlasmaFDN & @ethena & @Re7Labs
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You can now lend SOL through Wildcat!
@hyperithm have set up a @wormhole Wrapped SOL market offering 14% on up to 30,000 capacity.
Rate is better than anything on Kamino right now.
It's time to bridge to Ethereum. Come home.
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We showed this to our legal team and they all got up and quietly left the room
I was thinking, maybe everyone in crypto should lend to Wintermute on Wildcat. . .
If crypto ever blows up again, there's a solid chance Wintermute also blows up or is to blame. . . as a lender you can be part of the bankruptcy and any class action, whereas mere crypto market participants just suffer collateral damage . . .
*NOTE: this is probably a dumb idea, but legal red-teaming is interesting. . .
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Wildcat Labs has just finished development of an optional collateral contract feature.
This enables @WildcatFi borrowers to back their credit lines with a wide range of assets, at any collateralisation rate. 0? 300%?
github.com/wildcat-finance/c…
Quick thread:
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Wildcat V2 is sitting at $47.74 million in TVL
For every day it's under $50 million, we burn down a midwestern savings and deposit bank
They are offering you an average APY of 4%
Believe in something
app.wildcat.finance
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Good morning, it's a beautiful day to facilitate credit expansion at APRs that would make you think Margaret Thatcher never died
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First time?
1/We already killed Wildcat Banking once, in 1863. We’re going to have to do it again with crypto. Will we have the courage? Or will we succumb to capture? I have doubts.
en.wikipedia.org/wiki/Wildca…
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hello whitehats
we’re giving you a hundred thousand dollars to find ghosts in the shell, in conjunction with @code4rena
clout and larger payouts for the most severe and unique vulnerabilities
docs and repo dropping the day the competition starts
see you soon, anon
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You should be able to select your own counterparties
You should be able to decide on terms that suit you
You should be trusted with the freedom to contract
The Wildcat Protocol
Banking, but worse
wildcat.finance
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Okay fine, we heard you
Fixed duration markets
Self-on-boarding of lenders
0% collateral ratio option
More granular market access
We’re nearly done writing Wildcat V2
Everything is totally fine
We didn’t like V1 anyway
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“There is still not a lot of interest in undercollateralized loans yet,” Hadick said. “If you can get undercollateralized lending for prime brokers, trading desks and other institutional counterparties, that will improve liquidity and the general function of the market.”
Up
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Bodhi Ventures (@bodhi_ventures) - led by @kaiynne - has just launched a Wildcat USDC market, seeking $5 million in credit at 12.5% APR, fixed until August 7th 2025.
app.wildcat.finance
We @bodhi_ventures just launched a @WildcatFi pool. Pays worse yield than Selini but better than wintermute.
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A reminder to everyone that with ETH finally being recognised as worthy by the Vatican, there's plenty of space in Wildcat markets for those that were sidelined and need to catch up:
* 4.9m USDC at 12.5% with @bodhi_ventures
* 3.6m USDC/T at 12% fixed term with @cmsholdings
* 18.6m USDC/T at 12% with @wintermute_t
Plus space in markets for @Dialectic_Group, @Gasp_xyz, and the Wildcat Foundation itself!
Believe in something - make the new pope proud.
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We see this being used by market makers and funds
New tokens are often distributed in shadow
Wildcat can force terms into the light
No more rehypothecation of assets across entities
No more opaque agreements to market make PEPE
It's time for DeFi entities to use DeFi more
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48 million
We weren't joking
Wildcat V2 is sitting at $47.74 million in TVL
For every day it's under $50 million, we burn down a midwestern savings and deposit bank
They are offering you an average APY of 4%
Believe in something
app.wildcat.finance
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Dialectic (@dialectic_group) has just launched a Wildcat V2 USDC market for it's Chronograph fund, seeking an initial $1 million in credit at 6% APR.
app.wildcat.finance
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Wildcat cannot upgrade the code for a market
Wildcat cannot change the parameters of a market
Wildcat cannot unilaterally shut down a market
Wildcat cannot do these things, because we shouldn't
It is not our place - we aren't part of your arrangement
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We invert the typical model of credit platforms
We do not source willing capital for borrowers to use
We give borrowers mechanisms to contract on-chain
Who then select who they want to engage with
This is not a currently a tool for retail to use for yield
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Update: our lawyers hated this post
Wildcat V2 is sitting at $47.74 million in TVL
For every day it's under $50 million, we burn down a midwestern savings and deposit bank
They are offering you an average APY of 4%
Believe in something
app.wildcat.finance
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You might be the type that wants to learn more
We wrote longer-form stuff for you if so
A whitepaper
tinyurl.com/wildcat-whitepap…
A manifesto
tinyurl.com/wildcat-manifest…
A Gitbook with the kitchen sink in it
wildcat-protocol.gitbook.io
You know where we are if you have more questions
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The @wintermute_t Wildcat markets for WETH and USDC have accepted their first deposits! They're currently offering:
* WETH @ 4.5%
* USDC @ 15%
* WBTC @ 5%
There's still plenty of space in all of these - if you're interested in lending to Wintermute, reach out to them via DM!
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Little Engine Trading has just created a Tether market, seeking 2,500,000 USDT at 18.5% APR in a one-week withdrawal cycle open-term facility.
Built by ex-HF and HFT quants, Little Engine is a next-gen trading firm deploying systematic strategies across crypto and tradfi. The firm is now expanding its capital base to scale high-frequency crypto trading.
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CMS (@cmsholdings) have launched their second Wildcat market: a USDT mirror of their USDC one, seeking an additional $1 million capacity at 12% APR, fixed-term until June 30th.
It's been fascinating watching stable preferences get expressed, all other things being equal!
Mr President, a second borrower has hit Wildcat.
CMS (@cmsholdings) has just launched a Wildcat V2 USDC market, seeking $1 million in credit at 12% APR.
app.wildcat.finance
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Wildcat Labs is now actively hiring - Solidity/frontend developers, BD/sales/origination leads, marketers and more.
If you think you've got a skillset that we would benefit from as we transform credit markets, we would love to hear from you.
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The @wintermute_t Wildcat V2 USDC market maxed out at $20,000,000 last night, and has increased its maximum capacity to $30,000,000 ten minutes ago.
The markets may look like a warzone, but that doesn't stop the need for credit expansion in crypto.
Wintermute (@wintermute_t) have created Wildcat V2 markets seeking ~$75 million in public credit via USDC/USDT (12% APR), WETH (4%) and cbBTC (3.75%).
app.wildcat.finance/lender
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Gasp (@Gasp_xyz) have launched a somewhat unique USDC market: Democratize Market Making With Onchain LP.
This is a '0%' APR market aiming to offer variable returns based on performance of liquidity provision, external to Wildcat itself.
Info article:
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Undercollateralised credit protocols exist already
We view them as very useful, but too hands-on
Borrowers need to be approved by delegates
Credit limits must be negotiated
Discussions abound concerning underwriting
These are distracting from the main point
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