Recently I joined the bZx community call to talk about Backd. The Backd protocol deploys reactive liquidity pools that allow users to farm yield while simultaneously protecting their loans from liquidation. Backd will be launching on Ethereum mainnet in the following months. I am creating this thread to allow the bZx community to express their interests or concerns about Backd integration.
Here is short summary of what Backd integration would look like:
Collateral top ups would be supported for borrowers of the bZx ecosystem. Liquidity providers on Backd would be able to register their LP tokens to their loans or outstanding debt on bZx. This would benefit bZx borrowers by enabling them to earn interest with their idle assets while autonomously being protected from liquidation (Backd collateral top ups)
Looking forward to hearing any feedback!