ICO Genshiro

Genshiro is Equilibrium’s Kusama-based interoperable DeFi conglomerate that can do all things that existing DeFi primitives do, but with less risk and in a cross-chain manner. Genshiro launches its crowdloan. Users will be able to vote for Genshiro to receive a parachain slot by staking their KSM — participating users will be able to get up to 1,500 GENS for each KSM they contribute plus a substantial bonus.

We propose a novel approach to the collateralized stablecoins and lending facility backed by a portfolio of crypto assets. The stablecoin will be a multiple-collateral stable unit of account pegged to USD.

Stability comes from overcollateralization of borrower positions. We utilize novel approaches to on-chain pricing (interest rate calculation) and risk calculations (determination of the health of the entire system), which distinguishes our approach in several ways from stablecoins like DAI: 

1. There are no arbitrary governance-set interest rates, they are determined by a borrower’s portfolio, borrower debt amount, overall system liquidity, and price risk. 
2. There are no arbitrary set LTV requirements. The system makes sure every position remains solvent at a 100% collateralization ratio. 
3. There are no arbitrary set liquidation penalties and no hidden fees when borrowers default. There is no need for keepers (those who participate in liquidation auctions. 
4. By design there are always two sides to the system: liquidity providers on one side and borrowers on the other side. Borrowers pay fees to liquidity providers when borrowing crypto assets/generating stablecoins. Liquidity providers in turn bear liquidation risk of borrowers. 
5. There is a generic assets module which supports double entry book keeping (separation of assets and liabilities) and tracks portfolios of user assets. There is no such thing as position with 1 collateral, we work with portfolios. 
6. System design allows for building a spot trading DEX with desired levels of leverage.