Block Street 백서 전문

nners: USDT : Stable, predictable debt with 3-8% rates SPY : Diversified ETF with 4-12% rates For Advanced Users: AAPL : Blue-chip stock tokens with 6-18% rates TSLA : High-growth stock tokens with 8-25% rates NVDA : AI concept stocks with 10-30% rates Step 3: Enter Borrow Amount Click "Borrow" on your chosen asset Enter the amount to borrow Monitor the impact on your metrics: Health Factor (keep > 1.5) Borrowing Power Used Estimated APY Real-time Safety Check The system will display: New Health Factor Liquidation price Interest cost estimates Recommended safety buffer Step 4: Review and Confirm Before confirming, verify: ✅ Health Factor remains safe (>1.5) ✅ Interest rate is acceptable ✅ You have a repayment plan ✅ Gas fee (varies by network) Step 5: Execute Transaction Click "Borrow" Review in your wallet: Borrowing amount Network fee Click "Confirm" Wait for confirmation (~3-10 seconds) Step 6: Receive Borrowed Assets Once confirmed: Assets arrive in your wallet Interest starts accruing immediately Dashboard updates with your position Managing Your Loan Monitor Your Position Check regularly: Health Factor : Your liquidation safety Accrued Interest : Total interest owed Borrow APY : Current rate (variable) Total Debt : Principal + interest Health Factor Management Health Factor Status Action Required > 2.0 Very Safe No action needed 1.5 - 2.0 Safe Monitor periodically 1.25 - 1.5 Caution Consider adding collateral 1.0 - 1.25 Risk Add collateral or repay ASAP < 1.0 Liquidation Subject to liquidation When to Take Action Add collateral or repay when: Health Factor drops below 1.5 Collateral prices are declining Interest rates spike significantly Market volatility increases Borrowing Strategies Strategy 1: Liquidity Without Selling Use Case : Need cash but bullish on your stock tokens Example: Supply 10 AAPL stock tokens ($20,000 worth) Borrow 8,000 USDT Use USDT for expenses Keep AAPL exposure Strategy 2: Leveraged Long Position Use Case : Amplify exposure to stock tokens Example: Supply $10,000 worth of TSLA Borrow 7,000 USDT Buy more TSLA with USDT Profit if TSLA gains > borrow APY Warning : High risk, can amplify losses Strategy 3: Yield Arbitrage Use Case : Earn spread between rates Example: Borrow at 5% APY on Everst Deploy in 8% APY yield farm Earn 3% spread (minus risks) Repaying Loans Flexible Repayment Options Everst loans have no fixed term or payment schedule. Repay whenever you want, as much as you want. Interest accrues continuously until the loan is fully repaid. Understanding Your Loan Total Debt Composition Your total debt consists of: Principal : Original borrowed amount Accrued Interest : Interest accumulated since borrowing Interest compounds continuously with each block, growing your total debt over time. Repayment Strategies Full Repayment Completely close your loan position: Repay principal plus all accrued interest Frees all collateral immediately Resets borrowing capacity Eliminates liquidation risk When to use : Market uncertainty, achieved goals, or freeing collateral for other uses. Partial Repayment Reduce debt while maintaining position: Lower interest burden Improve Health Factor Free some collateral Maintain market exposure When to use : Managing risk, taking profits, or responding to rate changes. Interest-Only Payments Pay accrued interest without reducing principal: Prevent debt growth Maintain constant leverage Preserve tax benefits Manage cash flow When to use : Long-term positions or tax optimization strategies. Step-by-Step Repayment Guide Step 1: Prepare Repayment Before repaying: Check total debt amount Ensure sufficient balance of borrowed asset Add small buffer for interest accrual during transaction Have native tokens for gas fees Step 2: Calculate Repayment Amount Decide how much to repay: Full repayment : Total debt + small buffer (0.01%) Partial repayment : Any amount up to total debt Target Health Factor : Calculate amount needed for desired HF Step 3: Execute Repayment Click "Repay" on borrowed asset Enter repayment amount or click "Max" First-time only: Approve token spending Review transaction details: Amount repaying Remaining debt after New Health Factor Confirm transaction Wait for confirmation Step 4: Verify Results After repayment: Check updated debt balance Verify Health Factor improvement Confirm collateral released (if full repayment) Review transaction on block explorer Repayment Impact On Health Factor Repayment improves your Health Factor: Reduces borrowed amount (denominator) Maintains collateral value (numerator) Moves position away from liquidation Health Factor Formula : New HF = (Collateral Value × Liquidation Threshold) / (Current Debt - Repayment Amount) On Borrowing Power After repayment: Restored borrowing capacity Can borrow same or different assets Improved rates due to better utilization Option to withdraw freed collateral Common Repayment Issues "Insufficient Balance" Problem : Not enough of borrowed asset to repay Solutions : Acquire more of the asset Use partial repayment Swap other assets Use collateral swap feature "Transaction Failed" Problem : Various technical issues Solutions : Increase gas limit Check token balance Verify network congestion Try smaller repayment amount Best Practices For New Borrowers Start with small amounts Keep Health Factor > 2.0 Borrow USDT first Set price alerts Have repayment plan Risk Management Never borrow maximum amount Diversify collateral types Monitor market conditions Keep emergency funds ready Use stop-loss strategies Monitoring Tools In-app dashboard Price alert settings API for programmatic access Third-party monitoring services Next Steps Manage your loan → Monitor Health Factor as explained above Avoid liquidation → Liquidation Guide Understanding risks → Risk Management Questions? → FAQ All loans are over-collateralized and subject to liquidation if Health Factor < 1.0. Borrow responsibly. Supply & Earn Complete guide to supplying assets and earning yields on Everst Risk Overview ## /docs/everst/risk-management Risk Overview Understanding Protocol Risks While Everst implements multiple safety mechanisms, DeFi protocols inherently carry risks. This section provides comprehensive information about potential risks and our mitigation strategies. Risk Categories 🔧 Technical Risks Smart contract vulnerabilities Oracle failures or manipulations Bridge and cross-chain risks 📊 Market Risks Stock token price volatility Liquidation cascades Interest rate fluctuations 💧 Liquidity Risks Withdrawal restrictions during high utilization Slippage during liquidations Stock token market depth 🏛️ Operational Risks Governance attacks Regulatory changes Key management risks 📈 Stock-Specific Risks Earnings season volatility Company-specific events Industry regulatory impact Market hours limitations Risk Matrix Risk Type Probability Impact Mitigation Overall Risk Smart Contract Bug Low High Audits, Bug Bounty Medium Oracle Manipulation Low High Multiple Oracles Medium Stock Market Volatility High Medium Conservative LTVs Medium Liquidation Cascade Low High Hybrid Engine Medium Regulatory Action Medium High Compliance Review High Governance Attack Low Medium Timelock, Multisig Low Earnings Event Impact Medium Medium Dynamic Parameter Adjustment Medium Risk Mitigation Framework 1. Smart Contract Security Multiple Audits Audited by leading security firms Continuous monitoring post-deployment Formal verification of critical functions Bug Bounty Program Up to $100,000 for critical vulnerabilities Responsible disclosure process Ongoing security reviews Code Practices Battle-tested architecture Extensive test coverage (>95%) Gradual rollout with caps 2. Oracle Security Multi-Oracle System Chainlink Price → → Aggregator → Final Price Pyth Price → Price Validation Maximum price deviation: 2% Heartbeat checks: Every 3600 seconds Fallback mechanisms for oracle failure Oracle Redundancy Primary: Chainlink (decentralized) Secondary: Pyth (high-frequency) Tertiary: TWAP calculation 3. Market Risk Management Conservative Parameters Asset Class Max LTV Liquidation Threshold Buffer Stock-Specific Considerations USDT Stablecoin 85% 88% 3% Low-risk base allocation Blue-chip Stock Tokens (AAPL, MSFT) 75% 80% 5% Earnings season cautious adjustment Growth Stock Tokens (TSLA, NVDA) 70% 75% 5% Additional buffer during high volatility ETF Indices (SPY, QQQ) 75% 80% 5% Diversification advantage Dynamic Risk Adjustment Parameters adjusted based on: Historical volatility Liquidity depth Market conditions Correlation analysis Earnings calendar Industry event impact 4. Stock-Specific Risk Mitigation Market Hours Management Enhanced monitoring during US trading hours Conservative parameters during after-hours/weekends Special risk assessment during holidays Earnings Season Preparation Risk parameter tightening 2 weeks before earnings Real-time monitoring on earnings days Historical earnings impact analysis Corporate Event Response Rapid response mechanism for major news Regulatory announcement impact assessment Industry event chain analysis 5. Liquidation Risk Mitigation Hybrid Liquidation System Onchain DEX liquidations Offchain broker network Reduces selling pressure Improves execution prices Partial Liquidations Configurable close factor Prevents total position loss Reduces cascade risk 6. Governance Security Timelock Contract 48-hour delay for changes Community review period Emergency pause capability Multi-Signature Requirements 3/5 multisig for admin functions Distributed key holders Geographic distribution Stock Token Specific Risk Scenarios Scenario 1: Earnings Season Volatility Preparation Historical earnings impact analysis Expected volatility modeling Additional liquidity reserves Response Pre-earnings parameter adjustment Real-time monitoring of key stocks Rapid liquidation execution Post-earnings risk assessment Scenario 2: Industry Regulatory Impact Detection Regulatory news monitoring Policy change alerts Industry impact assessment Response Assess impact scope Adjust parameters for affected stocks User risk alerts Compliance strategy adjustment Scenario 3: Major Corporate Events Detection Corporate action monitoring News sentiment analysis Price anomaly detection Response Rapid risk assessment Specific stock pause (if needed) Emergency parameter adjustment User notification Scenario 4: Market Crash Preparation Conservative LTV ratios Stress testing models Insurance fund reserves Cross-asset correlation analysis Response Monitor liquidation queue Activate broker network Adjust risk parameters Community communication User Risk Management For Suppliers Risk Level: Low-Medium Key Risks: Smart contract risk Temporary illiquidity Variable interest rates Stock token price risk Best Practices: Diversify assets (mix USDT and stock tokens) Monitor utilization rates Understand withdrawal limitations Follow stock-specific events Stock Token Supplier Special Advice: Diversify across different industry stock tokens Monitor increased risk during earnings season Set price alerts Understand company fundamentals For Borrowers Risk Level: Medium-High Key Risks: Liquidation risk Interest rate volatility Oracle price risk Stock-specific volatility Best Practices: Maintain Health Factor > 1.5 (stock tokens > 2.0) Set price alerts Have repayment reserves Understand liquidation mechanics Follow stock-related news Stock Borrower Special Strategies: Reduce leverage before earnings Monitor industry news Understand market hours impact Prepare rapid response plans For Liquidators Risk Level: Medium Key Risks: Competition (MEV) Collateral price risk Technical failures Stock liquidity risk Best Practices: Robust monitoring systems Risk management for received collateral Gas price optimization Rapid execution capability Stock Liquidator Considerations: Optimize for US trading hours Assess stock token liquidity Prepare hedging strategies Backup OTC routes Insurance and Protection Protocol Insurance Fund Funded by configurable reserve factor First loss capital for bad debt Governance controlled deployment User Insurance Options Third-party coverage available Smart contract coverage Recommended providers listed Emergency Procedures Pause functionality Guardian role for quick response User fund recovery process Risk Metrics and Monitoring Key Risk Indicators (KRIs) Metric Safe Zone Warning Critical Stock Special Considerations Total Utilization < 60% 60-80% > 80% Lower thresholds during earnings season Average Health Factor > 2.0 1.5-2.0 < 1.5 Stock tokens > 2.5 Oracle Deviation < 0.5% 0.5-1% > 1% Stricter during stock news periods Daily Liquidation Volume < $100k $100k-500k > $500k Expected increase during earnings season Protocol TVL Change ±10%/day ±20%/day > ±20%/day Consider stock event impact Monitoring Tools Real-time dashboard Alert system Historical analytics Stress testing results Stock calendar integration Stock-Specific Monitoring Earnings Calendar Tracking Important earnings date alerts Expected volatility forecasts Historical impact analysis News Sentiment Monitoring Real-time news tracking Sentiment analysis Impact scoring Technical Indicator Monitoring Price trend analysis Support/resistance identification Volume anomaly detection Historical Incidents Lessons from DeFi Flash Loan Attacks Mitigation: No same-block borrowing Protection: Price manipulation resistance Oracle Failures Mitigation: Multi-oracle system Protection: Circuit breakers Liquidation Spirals Mitigation: Partial liquidations Protection: Hybrid liquidation engine Stock DeFi Specific Risks Mitigation: Market hours awareness Protection: Earnings season parameter adjustment Learning: Traditional finance risk models Continuous Improvement Regular Reviews Quarterly risk assessments Parameter adjustments Security audits Stress testing Stock market analysis Community Involvement Risk discussion forums Proposal system Bug bounty program Transparency reports Stock Expert Consultation Traditional finance expert advisors Equity analyst input Quantitative model validation Regulatory expert guidance Risk Disclosure Important : DeFi protocols are experimental Total loss of funds is possible No deposit insurance exists Past performance doesn't guarantee future safety Regulatory status may change Stock tokens carry additional risk layers Stock Token Specific Risks : Company fundamental change risk Earnings performance disappointment Industry regulatory changes Market hours limitations Lower liquidity than traditional stocks Users should: Only invest what they can afford to lose Understand all risks before participating Maintain their own security practices Stay informed about protocol updates Follow stock-related news Getting Help Risk Questions X/Twitter - Follow for risk alerts and updates Telegram - Real-time community risk discussions Documentation: This section Support: support@blockstreet.money Emergency Contacts Security: security@blockstreet.money Bug Bounty: Available for critical vulnerabilities Guardian Hotline: Published during emergencies Stock Expert Support Equity analyst consultation Traditional finance expert advice Quantitative risk model support Next Steps Learn More : Review sections above for specific risk categories Security : Security Documentation For Developers : Technical Documentation Stock Tokens : Tokenized Assets Guide Risk management is an ongoing process. Stay informed and practice safe DeFi. Stock token investment requires additional prudence and expertise. Borrowing Guide Complete guide to borrowing assets on Everst Liquidations ## /docs/everst/liquidations Liquidations Protocol Safety Mechanism Liquidations are a critical safety feature that protects Everst from insolvency. When a borrower's position becomes under-collateralized due to market movements, liquidators can repay part of the debt and claim collateral at a discount. When Liquidations Occur The Trigger Point Liquidation occurs when: Health Factor < 1.0 This happens when your borrowed value approaches your collateral's liquidation threshold. Real Example Initial Position: - Supplied: 10 AAPL stock tokens worth $20,000 - AAPL Liquidation Threshold: 80% - Borrowed: 12,000 USDT - Health Factor: ($20,000 × 0.80) ÷ 12,000 USDT = 1.33 (Safe) AAPL drops to $140 per share: - Collateral Value: 10 AAPL @ $140 = $14,000 - Health Factor: ($14,000 × 0.80) ÷ 12,000 USDT = 0.93 (Liquidation!) The Liquidation Process Complete liquidation process from trigger to completion Step-by-Step Breakdown Position Becomes Unsafe Market movements cause Health Factor < 1.0 Position flagged for liquidation Liquidator Acts Anyone can act as a liquidator Liquidator repays up to the configured close factor of the debt Transaction submitted to blockchain Debt Repayment Liquidator's funds repay borrower's debt Interest included in repayment Collateral Transfer Liquidator receives collateral worth repaid amount Plus configurable liquidation incentive bonus Transferred directly to liquidator's address Position Update Remaining debt reduced Remaining collateral reduced Health Factor restored above 1.0 Liquidation Example Before Liquidation: - Collateral: $10,000 worth of TSLA stock tokens - Debt: 8,500 USDT - Health Factor: 0.94 Liquidator Action: - Repays: 4,250 USDT (portion of debt up to close factor) - Receives: Collateral worth more than repaid amount (includes liquidation incentive) - Profit: $340 After Liquidation: - Remaining Collateral: $5,410 worth of TSLA - Remaining Debt: 4,250 USDT - Health Factor: 1.02 (Safe again) - Borrower Loss: $340 (liquidation penalty) Everst's Hybrid Liquidation Engine Dual-Path System Everst employs a unique two-tier liquidation system for maximum efficiency: 1. Onchain DEX Liquidation (Primary) Execution : Instant via smart contracts Liquidity Source : PancakeSwap, 1inch aggregator Speed : Same block execution Best for : Liquid assets (USDT, major stock tokens) 2. Offchain Broker Network (Fallback) Execution : Via partnered market makers Liquidity Source : OTC desks, traditional brokers Speed : 1-5 minutes Best for : Stock tokens, less liquid assets How It Works Liquidation Triggered ↓ Check DEX Liquidity ↓ Sufficient? → Execute on DEX → Complete ↓ Insufficient? → Route to Broker Network ↓ Execute OTC → Complete This dual system ensures: Deep liquidity for all assets Minimal slippage during liquidations Protection against cascading liquidations Support for stock token positions Automated Liquidation Architecture Technical architecture of Everst's automated liquidation system The liquidation system operates through automated bots that continuously: Monitor all borrower positions in real-time Identify positions approaching Health Factor < 1.0 Calculate profit potential from liquidation opportunities Execute liquidations via the most efficient path Manage collateral through optimal routing strategies Liquidation Parameters Key Values Parameter Value Description Liquidation Incentive Variable Bonus for liquidators Close Factor Configurable Max debt repayable per liquidation Min Liquidation Amount $100 Minimum profitable liquidation Liquidation Gas Cost ~$0.50 Typical network transaction cost Asset-Specific Thresholds Asset Collateral Factor Liquidation Threshold Safety Buffer Risk Level USDT Stablecoin 85% 88% 3% Low Blue-chip Stock Tokens (AAPL, MSFT) 75% 80% 5% Medium Growth Stock Tokens (TSLA, NVDA) 70% 75% 5% Medium-H