BlockBeats news, on March 12th, Zhu Su posted on social media that Wildcat's unsecured lending agreements look completely fine, they are basically short-term commercial paper issued by market makers (MMs) and other entities, and floating prices are a great innovation. In fact, if this agreement had existed in the previous cycle, Three Arrows Capital would have been much easier to restructure because its credit could be traded on the open market and its assets could be used to repurchase debt. In the long run, as long as there is enough time, the default rate of everything will tend towards 100%. During this period, as long as the borrower and lender are willing, the market will determine the interest rate. A protocol like this would have been very useful for Bitcoin miners in the previous cycle. BlockBeats previously reported that cryptocurrency market maker Wintermute has created the Wildcat V2 market, seeking approximately $75 million in public credit to support USDC/USDT (annual interest rate of 12%), WETH (4%), and cbBTC (3.75%).
