what's Covenant Finance?
Covenant Finance is a decentralized finance (DeFi) protocol that enables borrowing and lending against any tokenized asset through liquid, tradeable debt markets. It facilitates permissionless creation of structured products and aims to unlock significant increases in DeFi liquidity by using collateral assets themselves as liquidity sources. The protocol introduces Perpetual Debt markets, allowing users to trade debt positions as perpetual futures. This creates efficient leverage funding mechanisms where debt can be tokenized, traded, and settled on-chain, decoupling leverage from traditional perp DEX limitations and enabling novel financial primitives built on any collateral type.
Covenant Finance achieved 100x weight sync performance improvement for decentralized training.
Links
x.com/covenantfiAchieved a 100x improvement in weight sync performance for decentralized training.
Releases an open source launchpad edition.
The security audit report is now published and available. (Tweet ID: 1990550159953195129)
covenantfi integrates Chainlink Data Streams and Feeds on Monad blockchain for liquid credit functionality.
A competitive security audit is ongoing with a $43,000 prize pool and ends on November 3rd.
The 12-day audit competition officially begins, with prizes for discovering the highest and rarest vulnerabilities.
The Covenant creation process launches with Abraham creating 6 days per week for 13 years on Farcaster, allowing community interaction with 4 Seeds, and the first selection mints tonight with an accompanying article.
Covenant partners with an auditing platform for a 12-day competitive security audit of their codebase.