@Oxygen_protocol for dummies - a thread

1/ Oxygen is a DeFi prime brokerage built on @solana. But like what does that actually mean?

2/ I used to work at Goldman Sachs. Like most investment banks on Wall Street, Goldman has a prime brokerage team. They did a bunch of stuff: lend money to their clients to invest, look after their clients' assets, and much more.

3/ But they only did stuff for big, important hedge funds and pension funds. Not for people like me and you.

4/ Oxygen wants to change that - by building a prime brokerage that's accessible to everyone. 100% decentralized, 100% non-custodial, and 100% on-chain.

5/ The protocol starts by offering borrow/lending.

6/ "So is it just like Aave/Compound but on Solana?"

7/ Ehhhhh, not really. It's more sophisticated in a number of ways.

8a/ You get multiple uses of the same collateral. Let's say I deposit ETH and USDC into a pool. I can then earn yield on those coins by lending them out and borrow BTC against my pool AT THE SAME TIME.

8b/ There's cross-collateralization. Thanks to pools, I can use my pool of ETH + USDC as collateral to borrow BTC, instead of just using either ETH or USDC as my collateral.

8c/ Oxygen's borrow/lending matching is order-book based (thanks to @ProjectSerum) instead of following a pre-set market model - meaning I can set my ETH to lend out at whatever rate I want.

9/ Borrow/lending is just the beginning. Can't wait to see the team build out the rest of their vision.