CORK: THE TOKENIZED RISK PRIMITIVE

Summary from the TLDR Crypto newsletter

Cork Protocol has launched its public beta on Ethereum Mainnet, introducing a new DeFi primitive for pricing, hedging, and trading risk in the $30B onchain credit market. Depeg Swaps are a new asset class allowing users to price and hedge against depeg events in stablecoins and liquid staking tokens. The beta features capped liquidity vaults for the next 3-6 months, aiming to enable risk-free leveraged farming strategies and prevent systemic risks like Terra.