Date Updated: August 1, 2022
PennyWorks follows stringent risk management guidelines to ensure that funds are secure, yields are consistent, and risk is lowered across all possible touch points.
PennyWorks uses the PennyWorks Notes to fund collateralized loans through various Decentralized Finance (DeFi) protocols. Extensive risk management procedures have been set up in order to vet various protocols in the decentralized web ecosystem (web3) and help ensure that funds are only placed in responsible protocols with proven track records.
While the ecosystem is evolving at a rapid pace, each protocol is reviewed on a holistic approach driven by analysis across a number of factors, including but not limited to:
Furthermore, where available, third-party audits are also reviewed to provide multiple perspectives on each protocol.
The protocols used may change from time to time. Currently, the following protocols have been vetted for use:
1 This is a non-exhaustive list as many decentralized exchanges derive from the same source code and liquidity dynamics at any point in time might vary greatly based on market conditions.
2 Some of these protocols include other DeFi products such as Automated Market Making (AMM) and Liquidity Pool (LP) staking. Only their exchange functionality is currently used.
Within the vetted protocols, the aim is to maximize yields while maintaining a highly liquid profile. Some of the factors that are considered include:
The above information is illustrative of certain aspects of the PennyWorks Notes as of the date hereof. Those aspects may change from time to time at any time without notice and PennyWorks has no obligation, and assumes no duty, to update this page or you regarding the same.
The PennyWorks Notes are securities issued by HybridFi Lending LLC dba PennyWorks (“Issuer”). Furthermore, the information on this page is a summary of certain aspects only and does not purport to be complete and should not be considered a part of the private placement memorandum or other documentation of the offering (“Offering”), or as incorporated in the private placement memorandum by reference or as forming the basis of the Offering.
No person has been authorized to give any information or to make any representations about the Offering other than those contained in the private placement memorandum, and, if given or made, such information or representations must not be relied upon. All investors must read the private placement memorandum in its entirety prior to investing in the securities.
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