Cavern Protocol

📢Service Announcement📢 Cavern Protocol will stop all borrowing operations starting June 25th, 2024. You won't be able to borrow or repay funds on the protocol after this date. Keep reading to learn more.

Prices are going down slowly to 80% of their actual value. Tommorow will be 60%. There are still some people borrowing, please be careful with your collaterals !

Following the plan to clode the protocol, we will soon make the collateral value 80% of their actual values.

@afro_teemo No, I'm stopping this, because I want to focus on other projects :)

@CavernProtocol Thank you for your services. With the leaving of Ginkou, perhaps you want to talk with the Whitewhale team to see if there's an opportunity there?

Following our previous announcement, new borrows are not possible on Cavern Protocol anymore. x.com/CavernProtocol…

All borrowers should stop borrowing. If they don't, they risk loosing all their funds from Juon the 20th because prices will artificially be lowered

@sggresearch On Terra, there's solid for borrowing :) on WhiteWhale, there's Ginkou (cavern fork)

📢Service Announcement📢 Cavern Protocol will stop all borrowing operations starting June 25th, 2024. You won't be able to borrow or repay funds on the protocol after this date. Keep reading to learn more.

Here's a more detailed timeline for the next 3 weeks: - 15. June: Interrupting new borrows on the web app - 20. June: Gradually decreasing asset prices to stop all current borrow positions. - 25. June: Interruption of all borrowing and repayment activities

The protocol will slowly disappear but it leaves a powerful legacy behind : - A fully audited protocol with all the components open-sourced - Projects that already appropriated this code base and that are running successfully on other chains (@ginkou_io on Migaloo for instance)

Because this has been a wonderful adventure, I want to thank all the people who helped make Cavern Protocol a reality, those who participated in the protocol governance behind the scenes, and finally Terra's governance that helped fully audit the protocol.

This decision comes from multiple factors mostly due to my availability as the founder : - I don't have the energy/capacity to continue maintaining/innovating on the protocol - It has seen little-to-no adoption - I will take time off for personal reasons

After 1.5 years of operations, the Protocol will stop its borrowing operations. All borrowing activities will be stopped, while users will still be allowed to deposit funds until the reserves are fully drained.

Less and less borrows nowadays, do you want to deposit your $USDC now anon? There is plenty of yield, just come and grab it!

@seanyang63 @Delirious1991 @_WOOFi Some funds are available now :)

@Delirious1991 @CavernProtocol @_WOOFi Totally agree. @CavernProtocol, would it make sense to sacrifice a few percents of the APR and free up the deposits? Right now, there’s zero liquidity with 100% of the funds being lent out

Quick show of hands Who's enjoying the 14% APR on WOOFi Stake?

@OX_DAO You, easy

@joelvyn99 Ok, good idea

@CavernProtocol Walkthrough ? Thread or clip

You can now deposit funds on Osmosis directly inside Cavern Protocol, how do you like it, tell us about your experience Osmosis users!

@axelarnetwork @osmosis You can now withdraw and deposit from @osmosis without having to touch Terra! 🛤️ Stay home and enjoy a stable yield!

Cavern Protocol goes Cross-Chain🚀🚀🚀 Go to cavernprotocol.com to deposit your $USDC from @axelarnetwork directly from @osmosis. Osmosis is a first, more chains to come. What chains would you like to see? Comment Below 👇👇