Dear TrueFI community,
We are proposing to start a line of credit borrowing pool on TrueFi.
The loan will be utilized as working capital for market making and other quantitative trading strategies.
Bastion Trading has been trading cryptocurrencies since 2017 across various CEX and DEX platforms, as a proprietary trader and market maker. Bastion Trading is no stranger to Truefi being one of the first borrowers on the Truefi platform starting in 2021.
Currently, Bastion’s co-founder, Masahide Hoshi, is running for election for the Truefi Foundation board directorship having served as an interim director for about the past 18 months.
Trading / investing strategy
Bastion deploys a wide range of Trading Strategies, primarily:
- CeFi — Market Neutral Arbitrage and Market Making
- CeFi — Options Market Making
- DeFi — Defi Option Vaults, Passive AMM and active v3 style liquidity provision, Yield Farming
- Volatility Strategies
- Event-driven token long/short
Use of funds
Bastion provides liquidity to crypto markets, including CeFi and DeFi. Recently, Bastion’s strategies have yielded returns surpassing the expected interest rate on TrueFi.
The additional capital deployed would be used to enhance volume, tighten spreads, and improve market depth on the targeted tokens and coins we trade, thereby aiding in the revitalization of the crypto ecosystem through increased trading and transactions.
We are thrilled to keep building our relationship with the TrueFi community!
X/Twitter: https://twitter.com/BastionTrading; https://twitter.com/TheSkyhopper
Thank you for sharing your proposal for ALOC on TrueFi. I have a couple more questions for clarity:
- Currency: Which currencies do you plan to use in the ALOC?
- Max Size: What is the proposed maximum size of the line of credit?
- Depositor Constraints: Will there be any restrictions or a whitelist for depositors?
- Expected APY: Could you provide insights into the expected APY for depositors in the ALOC?
Your insights will help our community better understand and discuss your proposal. Thanks again for your contribution to TrueFi.
We would propose the following:
- Currency (USDT): The ALOC be denominated in USDT.
- Maximum Size ($10 Million): We would like to request the ALOC credit line to be capped at $10 million.
- Depositor Constraints (Whitelist): Initially, there will be a whitelist for depositors as an effort to maintain the integrity of the pool.
- Expected APY (9-14% with <85% Utilization): Depositors can expect an APY of 9-14% in normal conditions and assuming the credit line’s utilization stays below 85%.
Thank you for the constructive discussion!
Dear TrueFi Community,
We’re glad to see your support and hope to have adequately addressed the key points of our proposal.
We are ready to move to an on-chain vote.
Bastion requests to be whitelisted as creator and borrower for Automated Lines of Credit on TrueFi using address:
Thank you for your help in creating the on-chain voting proposal on our behalf!
Thank you for the answer!
The proposal has been published in Tally (link) and going to be live in 2 days.