Introduction to GEB
The what and how of the GEB framework
Last updated
The what and how of the GEB framework
Last updated
HAI uses a GEB framework.
GEB is a framework for deploying systems that can issue stablecoins. Stablecoins don't look like this (that's a pegged coin), but rather like this. Stablecoins are a great collateral source for other DeFi protocols (compared to ETH or BTC) and are also a store of value with an embedded funding rate. This documentation is meant to explain all the components behind GEB. Before diving into the docs, we recommend reading our original whitepaper. GEB is a modified fork of MCD that has several core differences:
Variable names you can actually understand
An autonomous feedback mechanism that changes the incentives of system participants
The possibility to add insurance for SAFEs
Fixed and increasing discount auctions (instead of English auctions) used to sell off collateral
Automatic adjustment of several parameters in the system
A set of contracts that bound control over parameters that are governed in the long run
The possibility to send stability fees at once to multiple addresses
The possibility to switch between surplus auctions and other types of strategies meant to remove surplus from the system
Two prices for each CollateralType: one used for generating debt, the other one used exclusively when liquidating SAFEs
A stability fee treasury that can pay for oracle calls or other contracts that automate the system
Explore the diagram in detail