MetaStreet

Overview

MetaStreet is an onchain structured credit market for illiquid assets that allows lenders to pool capital without relying on centralized oracles or third parties to define their specific risk tolerances. This permissionless design allows for complete longtail coverage – anyone can create any pool to lend any ERC20 to any collateral asset. 

After depositing, lenders mint derivative tokens that represent their position in the pool, allowing for secondary market trading of debt positions.

Check out this ELI5 for a simple explanation of the protocol, and this video  for an overview of secondary market mechanics. 

Background

MetaStreet was one of the early pioneers of onchain tranching for illiquid assets, launching in 2021 and generating over $80M in total volume to-date, including the largest ever NFT loan. The team comes from a deep background in both tradfi (DRW, Deutsche Bank, Rockpoint) and defi (Synthetix, Balancer, Compound) and has raised over $24M in funding from prominent investors (Dragonfly, Nascent, DCG)