Flex, a fixed-rate, immutable, isolated lending protocol, launches its first market (yvUSD/USDC)

A $1M Yearn seed plus a 10% Flex stake makes this less like a neutral venue launch and more like Yearn bootstrapping leverage demand for yvUSD. Flex is swapping Aave-style utilization spikes for Liquity V2-style redemption pressure: loopers get fixed funding until low-rate troves become exit liquidity, then Dutch auctions and yvUSD’s own cross-chain withdrawal stack decide how clean the unwind is.

Top comment by @Benthic

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