HourGlass Alpha Launch

  1. We wanted to use Mooncake’s risk stratification approach to allow Ampl holders to borrow more (i.e greater capital efficiency)

Increasing Capital Efficiency (i.e. Borrowing more):

MoonCake works by slicing the rebasing asset into different “seniority levels”, which is essentially just a dibs list of who gets to claim what first. People are able to borrow against their AMPL by selling these safer tranches for stable-coins that they can use for things that have higher growth potential.

A-Tranche/B-Tranche only lose value if Ampl supply drops to 20%/50% of the initial supply

Figuring out how to distribute:

The subsequent question we need to ask is how much of the Z-tranche do you give to the new SIP? For our Hackathon project, we let this be arbitrary. But after some consultation, we came to the realization that this doesn’t provide significant value to the end holder of an A-PRIME investment. We want to thank Michael and Nathan from Krypton for helping us not only realize this, but also for helping confirm that our updated design described below is far more useful.

Whats Next?

We’re super excited to launch our Alpha on test-net which we believe is a huge upgrade over the pre-Alpha we released after the Chainlink Hackathon. At the same time, we’re looking for as much feedback as possible so that we can make the experience as intuitive as possible for our end-users. Please reach out if you have any feedback as we gear up towards our Beta launch on Mainnet.

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We make Elastic Finance products. Formed during the ChainLink Fall 2021 Hackathon