Description
Cork is a DeFi protocol focused on tokenizing the risk of depeg events for stablecoins and liquid (re)staking tokens, allowing users to hedge, trade, and earn via its depeg swaps. The protocol's mission is to bring greater stability and transparency to the DeFi ecosystem by providing advanced risk-management tools. The core of the protocol is the depeg swap, a novel asset that prices depeg risk. Each market features a liquidity vault that mints Depeg Swaps for hedging and Cover Tokens for earning yield. The protocol is designed to be fully collateralized, trustless, permissionless, and audited. By tokenizing risk, Cork aims to empower sophisticated trading, expand onchain credit, and support the development of a more mature and resilient DeFi environment.