Note that they use BCT (Base Carbon Tonne) instead of BTC (Bitcoin).
> At time of writing, the APY [annual percentage yield] for staking is above 75,000%. This creates a lot of demand for KLIMA, because people want to be exposed to those gains,
That's insane, even looking it from here in Argentina.
> The protocol is currently extremely over-collateralized, i.e. they have way more BCT tokens in reserve than they have issued KLIMA tokens. At time of writing, there are 3.6M BCT in the reserve for 740k KLIMA tokens in total supply.
With that interest rate, it will be under-collateralized soon. Some back of the envelope calculation: 75,000%. is like x50 monthly. 3.6M/740k is like 50. So let's say a month.
