at first glance, borrowing USDC against $PEPE looks kinda ridiculous
but then you try @purintaxyz and it starts to make sense
a lot of “serious” defi collateral asset is only serious until you look deeply and you see rwa with legal\custody risk, yield assets mostly LSTs stacked across 4 protocols with underlying counterparty risks etc
with memes, the risk is stupidly obvious; price, liquidity and volatility are all public, making liquidation risk measurable in real-time
imo this makes the purinta thesis quite compelling, i mean isn't it easier to manage risk when everything is out in the open?
at launch, you can borrow USDC against $PEPE and $SPX6900, with merkl incentives live to help offset borrowing interest for eligible users
thanks to $ANSEM, the trenches is coming alive again, memes getting their own lending market is just right on time
definitely worth a look
