In recent months, we successfully designed, built, and launched the IMF, a protocol that introduced borrowing against ‘blue chip’ memes (initially just PEPE). Unlocking liquidity in ‘unserious’ assets.
However, this is just the beginning. Our ambition extends far beyond facilitating loans against popular memes. The true vision driving the IMF is the creation of the world’s first anarcho-crypto stablecoin, $MONEY.
While we recognize the potential in the memecoin super cycle, and believe memes are the perfect GTM, the core mission—and the very reason we joined this cause—is to unleash the transformative power of permissionless money.
How do we expand from here? In our view, a true crypto stable should remain credibly neutral as to the tokens used as collateral. As much as we are standing on the shoulders of DeFi V1 - governance is simply too slow and bureaucratic. The IMF’s mission is to unlock liquidity in almost anything. To that end, the next asset to go live on the IMF won’t be via governance, but rather market forces and protocol encoded game theory. The “uniswap moment” for a cdp stablecoin.
How do we get there? Our first milestone was to prove we can build, and we did so by not only launching but surviving a black swan event in august 2024, ensuring each mechanic works during a hard market drawdown. Black monday was brutal for us all, the silver lining, the IMF money market did exactly what it said on the tin.
Next milestone is to build up liquidity depth for $MONEY, via single sided LPing. We’ve been deep in our models and simulations, and believe we’ve invented a new primitive which allows the market to price the risk of various collateral, and expand borrow liquidity in lock step with trading depth.
Final step, funnel the interest revenue generated back to both $MONEY and the IMF token itself, creating both an in-demand stablecoin and protocol token in which value accrues.
DeFi, stablecoins and permissionlessly creating value are the killer use case for crypto. The ability to unlock liquidity permisionlessly is the next frontier. We are purveyors of unstoppable $MONEY, We are the lenders of last resort, the IMF will unlock liquidity in almost anything. So, in short, the next steps are:
IMFv2 permissionless collateral vaults launched (opening borrow markets for all collateral)
Staked MONEY (all interest yield goes to stablecoin, making it a competitive cryptostable)
$IMF staking rewards (rewards for IMF holders without detracting from staked money)
Autotomize the entire v2 system (the real “uniswap” moment)
Its democratized money.
