Covenant @covenantFi Twitter profile

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Covenant

@covenantFi

7 months

Introducing Covenant (fka Tazz)

Covenant Finance

Borrow and lend against any tokenized asset through liquid, tradeable debt markets.

covenant.finance

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Covenant

@covenantFi

7 months

Audited and verified! Excited to announce our audit with @0xMacroSecurity has concluded. They were great to work with. Read our report here:

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Covenant

@covenantFi

7 months

Perpetual DEXs transformed the industry. We believe Perpetual Debt will do the same. Excited to finally release Covenant’s Whitepaper: Tradeable Perpetual Debt.

Whitepaper | Covenant

docs.covenant.finance

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Covenant

@covenantFi

7 months

attention sugar daddies, DMs open

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Covenant

@covenantFi

7 months

literally giving discord tutorials on how to arb our market when things go live. some community members are listening...

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Covenant

@covenantFi

7 months

come by the discord. we're testing our beta with users on #Optimism mainnet. make debt tradeable again. $OP

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Covenant

@covenantFi

7 months

hey nerds we'll be in #ETHDenver Wednesday through Saturday. DM @ahampt0n if you want to geek out on Protocol Debt, #RWA , uncollateralized lending. LFG!!!!

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Covenant

@covenantFi

7 months

Most TradFi debt is structured with a defined maturity and interest rate. This produces many instruments, each with its own traits. The result: liquidity fragmentation. Covenant solves for fragmentation by removing the need for maturity dates and coupon rates.

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Covenant

@covenantFi

7 months

Our contracts are customizable and can be used to facilitate many use cases. Borrowers can use a myriad of on-chain collateral including LP positions, NFTs, and illiquid tokens. Covenant supports liquidation-free debt as well as mark-to-market liquidations.

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Covenant

@covenantFi

7 months

That is all for now. We will dive into the different market participants tomorrow. In the meantime, give us a follow @covenantFi and read our whitepaper!

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Covenant

@covenantFi

11 months

Why we think the next wave of DeFi lending will be built on tradable, perpetual debt....

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Covenant

@covenantFi

7 months

In our relentless pursuit of innovation and excellence, we've reimagined our brand to mark our dedication to a new on-chain economy where covenants look different.

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Covenant

@covenantFi

7 months

We will also be releasing our technical whitepaper explaining our mechanism for tradeable, perpetual debt in the coming days.

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Covenant

@covenantFi

7 months

Follow us @covenantFi to embark on this exciting journey towards a more robust on-chain future. The Covenant community is just getting started.

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Covenant

@covenantFi

7 months

An economy in which anyone can easily and fairly get liquidity against any tokenized asset.

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Covenant

@covenantFi

7 months

An economy that favors public and transparent agreements powered through smart contracts.

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Covenant

@covenantFi

7 months

@Lukex @ahampt0n too much?

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Covenant

@covenantFi

2 years

Launching our website . TAZZ is enabling a decentralized debt market for the efficient transfer of credit risk.

Covenant Finance

Borrow and lend against any tokenized asset through liquid, tradeable debt markets.

covenant.finance

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Covenant

@covenantFi

7 months

@torabyou thanks

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Covenant

@covenantFi

11 months

Want to learn more? Comment here or find us in the Discord:

Join the Covenant Finance Discord Server!

Check out the Covenant Finance community on Discord - hang out with 215 other members and enjoy free voice and text chat.

discord.com

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Covenant

@covenantFi

11 months

TAZZ graduated today from the most recent @alliancedao cohort. Check us out in @techcrunch

Jacquelyn Melinek

@jacqmelinek

11 months

Meet @alliancedao 's latest accelerator cohort of startups building in a crypto winter 👇 “This is the most exclusive cohort in our history,” @QwQiao said during its demo day.

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Covenant

@covenantFi

6 months

this used to be our boss. ask us anything.

BuccoCapital Bloke

@buccocapital

6 months

Alex Karp, CEO of Palantir, ranting on CNBC about short-sellers destroying American businesses so they can fund their cocaine habits

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Covenant

@covenantFi

11 months

We can't speak highly enough of the Alliance team and our fellow cohort members. It's a privilege to be members of the DAO.

Alliance

@alliancedao

11 months

1/ Last week eight awesome teams graduated from @alliancedao 's ALL11 cohort to build great companies. These founders are now members of the DAO and will be there to share their experiences and learnings with future Alliance Founders.

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Covenant

@covenantFi

8 months

releasing our whitepaper later this week. when you read it...

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Covenant

@covenantFi

8 months

God has spoken, it’s inevitable. And when it happens you’re gonna need a debt market that can accept any type of collateral.

intern ⨀

@intern

8 months

it sounds like Larry Fink got racked with his absolute boys last week, had an epiphany about crypto and is now fully entering the crypto rabbit hole

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Covenant

@covenantFi

6 months

"get a chance to read the whitepaper?"

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Covenant

@covenantFi

6 months

attention Beacon holders, exclusive opportunity, check it out

DegenScore 👾

@DegenScore

6 months

Onchain, long-tail friendly, market-priced debt markets? Yes please! @covenantfi has created a new onchain primitive, tradeable perpetual deb 🧠 The beta is out now and DegenScore Beacon holders can earn an NFT for 50% boost on Covenant Rewards 👇

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Covenant

@covenantFi

6 months

think there are points inside that thing? we'll find out soon...

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Covenant

@covenantFi

10 months

Mandatory reading for those interested in DeFi lending. Learn more about how Tazz's market-based rates compare to interest pricing of other protocols.

djma

@0xdjma

10 months

1/Lending Protocol Taxonomy, Part 2: Interest Rates In an attempt to categorize lending protocols in defi, I wrote about lending duration in Part 1. Part 2 is all about how do protocols arrive at the correct interest rates. This article covers:

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Covenant

@covenantFi

11 months

Are you a protocol? Are you bullish on your token? Then why are you selling it in a bear market when you can use debt instead?

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Covenant

@covenantFi

11 months

Tazz is unlocking new ways to finance longer-tail assets. A short 🧵👇.

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Covenant

@covenantFi

7 months

Covenant debt is structured like a continually refinancing zero-coupon loan. Borrowers mint debt tokens which are continuously tradeable on Uniswap v3. The spot price determines the interest rate.

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Covenant

@covenantFi

6 months

thanks again to @DegenScore and beacon holders for using our test deployment on #OP mainnet during the cafe! booster NFTs have been distributed. more opportunities coming...

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Covenant

@covenantFi

8 months

You are a defi user on #Optimism . You have stablecoins. You see a protocol has 20% base yield on stables (this does not include token incentives). Is this high enough to make you stop and look closer?

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Covenant

@covenantFi

2 years

ya but replace "like" with "on."

Drake Evans is hiring

@DrakeEvansV1

2 years

Are there any lending platforms written like AMMs? What I mean is relies on balances, optimistic transfers, maybe even callbacks inside? Was looking over uniswap code recently and there is no reason why I can’t turn fraxlend into an AMM

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Covenant

@covenantFi

10 months

kain @ Token 🇸🇬

@kaiynne

10 months

@tazz_finance - I told them they should rebrand but they haven’t yet for some reason 🤷‍♂️. Building on-chain bonds, and I think this will be a big narrative next year as projects look to fund themselves with debt rather than equity. Raising rn.

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Covenant

@covenantFi

8 months

Our code is undergoing an audit. Excited to release the results once complete. That is all.

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Covenant

@covenantFi

9 months

Great breakdown on Tazz. More news on protocol debt coming soon…

Winter Soldier ❄️🙋🏻‍♂️

@WinterSoldierxz

9 months

If tokens = equity financing, the next frontier for protocols is debt financing i.e. Issuing loans, instead of selling tokens @tazz_finance stands out to me as the spearhead with its innovative perpetual debt primitive A 🧵 on Tazz + the future of onchain debt finance

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Covenant

@covenantFi

6 months

Thank you to all the @DegenScore members who tested our new app 🤗 We'd love to hear from you. DM us or drop a note in our Discord with feedback 👇

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Covenant

@covenantFi

2 years

TAZZ AMA, this Thursday, Mar 16, 11AM PT. Join us.

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Covenant

@covenantFi

8 months

Pretty crazy that points are (not for long) bigger than tradable debt in crypto. Do you know how large the tradable debt market is irl?

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Covenant

@covenantFi

7 months

Go Bears…the mascot, not the market participant

Blockchain at Berkeley

@CalBlockchain

7 months

Exciting developments in the #DeFi ecosystem are paving the way for the possibility of DeFi lending with illiquid collateral and hard to price assets. A groundbreaking example is the recently introduced Tradeable Perpetual Debt by Alan Hampton @covenantFi . Our team at

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Covenant

@covenantFi

8 months

We've written in the past about the benefits and efficiencies of Tazz, but how does it work? An ELI5 thread 👇

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Covenant

@covenantFi

5 months

Excited to announce we passed the snapshot vote for the upcoming @arbitrum LTIPP grant! Incentives are expected to start in May! 🥳🚀

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Covenant

@covenantFi

1 year

We're excited to announce $ankrETH has been added as a collateral to our liquid staking pool. Want to boost your $ETH folded staking yield to 20%? With no spread between borrow and lend rates, and 95% max LTV, you can. Visit and read on to learn more 👇

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Covenant

@covenantFi

2 years

Timely

Alan Hampton | Covenant

@ahampt0n

2 years

1/ Decentralized money? Is a decentralized asset like bitcoin a good candidate for money? Or should decentralized money follow the bank enabled money==debt paradigm that currently dominates real world finance?

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Covenant

@covenantFi

1 year

thinking it would be cool to have a meme-tricrypto lending market, shiba-doge-pepe collateral.

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Covenant

@covenantFi

11 months

Also, check out our litepaper if you want to learn more about Tazz:

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Covenant

@covenantFi

8 months

Are you unsure how Tazz works at a high level? Check out this ELI5 video on Tazz basics.

Covenant Finance (fka Tazz) ELI5

ELI5 Overview of Covenant (fka Tazz) Finance. The basics of how assets, users, and infrastructure interact.

www.youtube.com

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Covenant

@covenantFi

2 years

you don't say...

Nick Tomaino

@NTmoney

2 years

The killer use case for crypto has always been enabling each human to be their own bank without any gatekeepers

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Covenant

@covenantFi

1 year

Wen announcement? Wen test net?

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Covenant

@covenantFi

11 months

Small digression: for an excellent deep dive into duration & lending taxonomy, check out this post by @0xdjma :

djma

@0xdjma

11 months

I decided to MAP EVERY LENDING PROTOCOL under a taxonomy and share the alpha with you. Turns out it's kinda long, so part 1 is focused on interest duration. In the article I compare delta-1 instruments to lending, and there's a clear gap: Turns out a graduate of @alliancedao 's

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Covenant

@covenantFi

11 months

1. On Tazz, the price of debt changes wrt risk. The higher the risk, the cheaper the debt price (and vice versa). Therefore, the system is inherently designed to bend with losses vs breaking (i.e. during liquidity and solvency crunches).

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Covenant

@covenantFi

11 months

For instance: 1. Money markets (like Aave) can't underwrite risky, illiquid assets 2. Peer-to-peer protocols (like Blend) don't scale efficiently 3. Protocols offering fixed yields (like Notional) are too fragmented Let's unpack this...

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Covenant

@covenantFi

5 months

What happens when three Palantir engineers slam maté and think about lending LP incentives? As we approach launch, let's look at a new way to reward LPs. 🧵 👇

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Covenant

@covenantFi

11 months

3. Tazz concentrates liquidity by making debt perpetual (i.e. no maturity), which significantly reduces liquidity fragmentation. Again, see @0xdjma 's article for more insight on the topic.

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Covenant

@covenantFi

1 year

Do you think folding your favorite #LST is dead? Think again! Read on to learn more...👇

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Covenant

@covenantFi

5 months

So what's the best LP strategy? LP's maximize their incentive returns by concentrating their liquidity at the right yield for borrowers and lenders. LPs are also exposed to impermanent loss if zTokens lose value. How is this different from other lending protocols?

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Covenant

@covenantFi

11 months

Also, if this thread caught your interest, check out what you can already do today at .

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Covenant

@covenantFi

8 months

In a previous thread we covered Tazz basics. Borrowers mint and sell debt tokens. Lenders buy debt tokens. The debt is perpetual. But how does the rate get set, and how does that affect borrowers and lenders? Let's dive in 👇

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Covenant

@covenantFi

6 months

@BeraMVP lol tbh this is him on green tea

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Covenant

@covenantFi

11 months

A bear market is the most expensive time for projects to sell tokens. They do it because they have mandatory expenses like payroll, but selling your token in a down market is a losing battle for many reasons. Eg...

Dump Watcher

@DumpWatcher

11 months

When will Arbitrum team run out of ARB to sell? Through the help of market maker Wintermute, there has been a constant dump of $ARB ARB tokens are sent from Prime Deposits addresses from Coinbase, FalconX and Bitfinex to Wintermute, which are instantly sent to exchanges,

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Covenant

@covenantFi

2 years

hey, you're coming to the Spaces AMA tomorrow, right? been forever since we talked. we'll bring the conversation, but otherwise it's BYOB

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Covenant

@covenantFi

11 months

Great news for @ankrstaking users on Arbitrum! You can now borrow against your #ankrETH Balancer LP positions on Tazz (). You can currently borrow up to 90% LTV at ~2.2% APY (we'll let you do the math on folding).

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Covenant

@covenantFi

11 months

This seems obvious since these tokens have the biggest crypto market caps. It also may have been out of necessity because of the limitations of existing lending protocols.

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Covenant

@covenantFi

1 year

We've been running a private beta with users to collect feedback, to be made more public over time. Let us know if you'd like to try out and give us feedback, for OG glory, fortune, joy, and fame.

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Covenant

@covenantFi

11 months

As DeFi lending matures beyond just borrowing against over-collateralized large cap ERC20s, it will need new primitives with the ability to scale, concentrate liquidity, and underwrite a broader range of assets.

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Covenant

@covenantFi

11 months

This means a protocol can take a loan backed by their treasury holdings without worrying about M2M about liquidations, even if their governance token goes down in value. If the collateral does go down in value, the market can figure out how to price the debt...

Covenant

@covenantFi

11 months

Why we think the next wave of DeFi lending will be built on tradable, perpetual debt....

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Covenant

@covenantFi

10 months

This mysterious, metallic figure gets it. Thank you ser.

Winter Soldier ❄️🙋🏻‍♂️

@WinterSoldierxz

10 months

@alliancedao @synthetix_io @dYdX @pendle_fi @Injective_ @tazz_finance Tazz will create a new DeFi primitive by bringing TradFi credit markets fully onchain As such, I expect Tazz to be a dominant player in onchain credit + yield trading vertical, and as a liquidity hub for protocols Very 🐂ish

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Covenant

@covenantFi

9 months

We love our community, frogs included.

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Covenant

@covenantFi

1 year

1/5 🚀🚀 Exciting news! TAZZ is now live on @ethereum Goerli! We invite you to explore our next-generation DeFi lending platform at . Let's dive into what makes TAZZ special...🧵

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Covenant

@covenantFi

1 year

Configuring testnet deployment, standby

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Covenant

@covenantFi

1 year

Everyone loves an announcement of an announcement. Deploying new collaterals, to be announced, next week to juice $ETH staking yield.

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Covenant

@covenantFi

1 year

With better rates, and a higher max LTV of 95%, Tazz is an ideal option for looping your LSTs. We're busy integrating more LST options in addition to $wstETH, like $ankrETH and $swETH. Read the docs to learn more:

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Covenant

@covenantFi

11 months

2. Peer-to-peer loans don't scale efficiently because each loan has to be assessed, priced, and underwritten by each lender. Furthermore, the lack of syndication/securitization infra makes it difficult to increase exposure to non-experts.

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Covenant

@covenantFi

11 months

In our previous post, we talked about how @tazz_finance 's tradable perpetual debt primitive can help usher in a new era of DeFi lending.

Covenant

@covenantFi

11 months

Why we think the next wave of DeFi lending will be built on tradable, perpetual debt....

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Covenant

@covenantFi

11 months

Similar to protocols like @SiloFinance and @RDNTCapital , risks in Tazz's lending pools are isolated from one another. This means different pools can take on different levels of risk without endogenously impacting each other.

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Covenant

@covenantFi

2 years

time for our thread on the banking crisis. 1/x…

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Covenant

@covenantFi

8 months

At the highest level, Tazz enables perpetual, tradable debt. 'Perpetual' in that it doesn't have a fixed maturity. 'Tradable' in that it trades on a DEX.

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Covenant

@covenantFi

5 months

The difference is that these are not swap fees. Uniswap has a staking contract that distributes rewards based on the *time* the price remains in a respective LP's liquidity range.

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Covenant

@covenantFi

8 months

If a lender buys a debt token when the APR is 20%, and the rate falls down to 5%, they might sell the debt tokens at a gain. Reverse the scenario, and they might sell at a loss.

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Covenant

@covenantFi

11 months

2. Tazz leverages market forces to efficiently price risk and and has built-in syndication via fungible (ERC20) debt tokens, enabling it to scale more efficiently than peer-to-peer models.

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Covenant

@covenantFi

11 months

Unlike other isolated lending protocols, however, Tazz uses market forces to both set interest rates & price debt. Practically speaking, this means that higher-risk pools have higher rates & cheaper debt, and lower-risk pools have lower rates & more expensive debt.

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Covenant

@covenantFi

5 months

A quick refresher. Covenant lets borrowers mint zTokens, which are tradeable on UniV3. The zToken price determines the expected debt yield. LPs enable this market, but have to choose the price range (and thus rate!) where they expect zTokens to trade. So, how to best reward LPs?

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Covenant

@covenantFi

8 months

Let's say an organization like @Optimism wanted to borrow USDC against $OP from their treasury. They would deposit $OP collateral into Tazz, minting debt tokens specific to Optimism. We might call these tokens zOPDebt. Optimism would then swap zOPDebt for USDC on Uniswap.

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Covenant

@covenantFi

6 months

Voting is live for @arbitrum LTIPP grants. Covenant is doing great so far with over 80% of votes in favor, but if you have $ARB, please show your support and vote 'For'!

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Covenant

@covenantFi

11 months

Like companies do in the real world, it makes more sense for protocols to use debt. With debt, you get the money needed for expenses, without giving up potential upside to your token price by increasing the circulating supply.

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Covenant

@covenantFi

11 months

3. Fixed rate payouts require fixed durations/maturities, which leads to fragmentation across different time horizons.

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Covenant

@covenantFi

11 months

Stay tuned for more posts on use cases where Tazz can be particularly useful.

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Covenant

@covenantFi

6 months

@Lukex @BeraMVP

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Covenant

@covenantFi

4 months

Coming June 1st on #arbitrum with ARB + Covenant incentives

Thor Hartvigsen

@ThorHartvigsen

4 months

I need a money market which allows @pendle_fi PT-token looping (specifically stablecoin markets) so I can get my much needed 100%+ APY on stables. Who's building this?

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Covenant

@covenantFi

11 months

TGIF and TGWeHaveANewLandingPage

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Covenant

@covenantFi

8 months

are the 27% doing double thick 6 dimensional staked eth or smth. what water hole are they going to?

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Covenant

@covenantFi

8 months

So how does the rate get set? The market determines the rate, and the rate and price are inversely related. To simplify, if the price goes up, the rate goes down, and vice versa. This means the rate is floating and debt is tradable.

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Covenant

@covenantFi

2 years

twitter spaces AMA, 90 mins. bring gloves and eyewear, we're an open book...

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Covenant

@covenantFi

5 months

E.g. a $50k incentive is active for the next month. Both LP A and B allocate $1M to the UniV3 pool. The market, for that whole month, is around the 15% yield price. So LP A get a 60% effective APY on their position, while LP B gets 0%. Sounds like normal UniV3 LP'ing right?

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Covenant

@covenantFi

5 months

TLDR: Unlike other lending protocols, LPs get rewarded for correctly predicting the market lending yield. Get it right, and this could be 10x larger than the native, underlying debt yield. How do we gamify this?

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Covenant

@covenantFi

11 months

Tazz solves for all these problems. Risk is isolated between different markets, any token (even locked tokens) can be collateralized, and collateral doesn't have to be subject to M2M liquidations.

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Covenant

@covenantFi

11 months

Up to this point, almost all DeFi lending has been over-collateralized by highly liquid ERC20s like WETH, wstETH, WBTC, etc.

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Covenant

@covenantFi

11 months

1. Similar to banks, crypto money markets try to avoid principle loss at all costs and tend to break down during liquidity & solvency crunches (e.g. bank runs). This puts a lot of stress on governance and limits their ability (and appetite) to support risky, illiquid collaterals.

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