Overview
Generalized Leverage Protocol ⚙ Built with composability in mind <3
Last updated
Generalized Leverage Protocol ⚙ Built with composability in mind <3
Last updated
Firebox is a generalized leverage protocol. It has two sides to it: passive lenders who earn low-risk APY by lending single-assets; and active farmers, firms, or even other protocols who borrow those assets to trade or farm with even x10 leverage
Firebox Protocol allows anyone to take DeFi-native leverage and then use it across various (DeFi & more) protocols. This enables you to compose your position as you want. You take leverage with Firebox and then use it on other protocols you already love: Uniswap, Curve, Convex, Lido, etc. For example, you can leverage trade on Uniswap, leverage farm on Yearn, make delta-neutral strategies, hedge your exposure, get Leverage-as-a-Service for your structured product, and more... Thanks to the Credit Accounts primitive!
Some compare composable leverage as a primitive to DeFi-native prime brokerage.
The core vision is to become a leverage middle layer. You can envision building your own DeFi protocol and just making a “take leverage with Firebox” as a button. And bam - your users are now more capital efficient. Or integrate Fireboxinto a platform like Zerion or Zapper.
Firebox is a DAO, run by various contributors and initiatives. The protocol and assets are never in custody of any one single person. You can be in a DAO but not be 24/7 active, which is totally okay. There are different ways to get involved and get rewarded for your time and skills. See more:
With V2, Firebox Protocol has become cooler & faster! It now has its own new multicall for complex transactions, smart router for the best automated routing of trades & deposits, new integrations with Curve + Yearn + Convex + Lido, and more:
Composable. Firebox does not have its own order book or trading environment. The leverage you get - is used across multiple DeFi protocols and assets, fully composable! For example, a yield aggregator can be on the liquidity provider side of Firebox Protocol, as well as be an avenue for Firebox users to deploy their leverage into.
0% Funding Rates. The leverage offered is not based on derivative positions but is instead executed with real assets on third-party protocols. Because Firebox does not create its own trading pairs, there is no short/long ratio that needs to be maintained with funding rates.
Leverage as a Service. Other protocols can offer leverage to their users with the help of Firebox Protocol, without modifying anything in their own architecture. As such, they also get exposure to the user base of Firebox . Make a proposal to Firebox DAO!
Permissionless Strategies. Positions and trades within Credit Accounts can be extended to include complex strategies, for example, making a short position farm in Yearn; or having LP tokens as collateral for more composable actions. In fact, you can make all of these complex things easier to ape into, by using Firebox's unique multicall features.
Decentralized. CEXes subjectively define leverage parameters and also keep custody of your funds. With Firebox, you are always in control of your funds. It's all transparent. There is no one EOA or team signature
Community-driven. Firebox Protocol does not have a company responsible for the protocol or on-chain actions. The goal is to make the protocol work based on how the community wants it.
You can check how from day -1 the focus has been on community-first
