i hate you all so much but we need to make it [upd]
if i ever shit on you or your bags, please know that it's simply coming from small pp & not having had playstation as a kid
"Why so many infrastructure projects?"
"Why no consumer apps?"
"Why so much ZK random stuff?"
"Where are the users?"
"Who are we building for?"
"When does the trend reverse?"...
IT'S ALL VERY SIMPLE 🥸
1⃣ Main rule: consumer apps are not valued at 100x, just accept that as a…
Sharing oughts and observations from Token2049 in Singapore with some clicks from around the city in between so it doesn't get boring.
The last time I came around was in 2019. The regulatory environment in India was going from bad to worse, and I tried moving here permanently at…
Founders not doing their token launches right now are pretty much doing malice at this point. Market conditions are fine, narratives are fine… you won’t get a much better environment. Waiting longer (like some did last cycle) will literally just get you into another bear market.
Choosing to build a "legit protocol" in crypto is dumb af. It's stupid to try to genuinely build something. Imagine doing "docs edits" at 1AM, let alone devs having not slept since like Jan 2023 :/ And I kid you not, sold 0 $GEAR in 3 years. I wonder if it's dumb to NOT scam...
Controversial take, maybe:
Nobody cares to fix airdrop distributions because the downside of strict criteria is far worse than giving a bunch to sybillors. If you end up not giving to like 1% of vocal people due to overcutting - that is worse than giving 50% to sybillors.
We are going to fucking 0 😢
You all look dressed up. With watches, cars, houses. Speaking of Saint Tropez and Crystall bottles. You don't deserve x100.
I don’t think the untransferable token strategy works well in bull. In bear market maybe, because attention is weak anyway, but not now. It’s a loss-loss strategy 🫠
-> You immediately open the floodgates for competitors. Previously people could have thought “nah I am not…
$50M+ LETS GOOO 🫡
I know this isn't that big for some of you whales, but it's good to see the revival! Devs hard working (not me) is finding some PMF.
If this hits $100M+ by end of Feb...
I WILL FY TO
@gabrielhaines
AND FEED HIM A LOBSTER
PS: $150M+ and I rub his tiddies 🆔
It is becoming too normalized for the same team to make a new token. Super scammy. And you shit on VCs after this? Majority of project founders these days are outright scammers.
Lousy marketing. The truth is:
- no bad debt in the protocol ✅ $0
- the protocol became fully operational right after
- emergency liquidator profits during the pause will be voted on to give back to users, as courtesy, because otherwise the system worked exactly as designed;…
1/🧵
• 50% of Gearbox ezETH TVL wiped out + debt
• 150 liquidations on Morpho
• Millions were lost during 78% ezEth depeg
Yesterday was just a rehearsal before a major depeg event once EL points are over
At
@0xfluid
we protect lenders and borrowers and had 0 liquidations
Devs are all wide awake, checked. No bad debt for any passive lenders ✅ The protocol is operating normally.
Leverage users on $ezETH were liquidated en masse, but that's because there was an actual depeg reported by both redstone and chainlink oracles. Whatever the protocol's…
Due to a depeg of $ezETH reported by
@redstone_defi
oracle, a few Credit Accounts were liquidated. No bad debt was incurred by Gearbox passive lenders. However, liquidations are never pleasant. Will be back shortly with a full recap on what happened.
A little 🧵 on Gearbox and $GEAR
After months-years of work of making "composable leverage" (composable onchain credit) a reality,
@GearboxProtocol
is finally able to show what it means. LEVERAGE ANYTHING is becoming real! First, with the PURE margin trading product on top of…
Over 2,000 ETH have now been restaked through Gearbox using
@ether_fi
in less than 18 hours. 🤯
And anyone who submitted their address post launch should now be able to access leverage as well. Go restake on: ⚙️🧰
Imagine you are a researcher / dev at paradigm, shipping tools and support for core Ethereum clients, OSS great things, and so on… while your IC goes around backing ponzis 🤦
Listen up, whiny peasants, I didn't come to this market to worry about your mental health, vacations, and burning out. If you wanna avoid burnouts, go slave for the rest of your life in a corporate cell. Don't want that? Then shut your fucking mouth and ship 24/7 and continue…
The $ARB DAO is interesting, since it really seems to give community vibes and the chaos it comes with, submitting (in a good way?) to the typical holder-demands: more rewards, vanilla staking... They are staying true to their initial launch vibes, but I'm curious if that's good…
@crypto_noodles
@multicoincap
@SeiNetwork
@KyleSamani
So your telling me that BigFundSmartBrain:
> invested $5M in any random chain in seed
> that chain now trades at $1B FDV cause fat thesis
> $5M investment is now a lot of money
Every single fund must be a genius, especially illiquid
Everyone is making money except for you?! Come to the PURE side, get cheap leverage 🫡 Margin trading on top of Uniswap and other real DEXes, no perp mechanics or trusting the house!
ETH funding rates annualised
DyDx: 108%
GMX: 42%
Borrow rate on PURE: 4.1%
Even if you pay 150$ in gas on ETH, the difference in rates pays it off in 2 days for a 100k position
Oh and ofc, you can farm stETH with your ETH long on
@GearboxProtocol
to earn instead 🫡
Nobody wants to built DeFi because you have the most regulatory risks, the most hack risks, and your downside is infinite because "nobody wants a pre-revenue startup, they want a clean layer 1 blockchain play with 0 transactions". You can't fake DeFi TVL for longer than a week 😭
They are trying to force memecoins into some so-called culture. But it isn’t. That’s where they get it absolutely wrong 💡 Nobody is buying memecoins to be part of a movement or a culture. They are buying those solely for trading, PnD. And sure, do it, but there is no sense of…
The people trying to fade memecoins are the same kind of people who were fading pop music in the 60s, calling Banksy a vandal in the 80s, and shittalking rap in the 90s.
A few thoughts about onchain credit that
@GearboxProtocol
is building since ‘21🧵
🧮 no credit scores, only math
🤝 no trust assumptions
🌳 account abstraction native
🗺️ generalized, to be used by anyone
Our goal is to make 𝐨𝐧𝐜𝐡𝐚𝐢𝐧 𝐜𝐫𝐞𝐝𝐢𝐭 both safe & accessible. See Gearbox as a one-stop place where both end users and protocols can grab more $$ and do with that leverage whatever they desire! Capital efficiency! No credit scores though, only math 🫡 Coming up in V3!
Product vs Protocol debate: forget it 🙅♂️
How to hardcode oracles 1-1 and die: incoming
How to hardcode oracles 1-1 and not die: incoming
The ultimate modular lending deep dive, that nobody asked for and that nobody will read, is incoming 🫡
My crypto theses for the next 1 week:
1) parallelized EVM is the future, so are parallel competing allocations with day 0 unlock
2) memecoins are super safe and super lucrative investments for retail, especially the memecoins the reader holds; you are winning champ!
3) every…
You buy, it goes down = rekt
You didn’t buy, it goes up = rekt
You buy, but not enough, it goes up = rekt
You buy enough, and it goes up, but not as much as something else goes up = rekt
There is no way to unrekt yourself.
𝑆𝑎𝑦 𝑡𝑜𝑘𝑒𝑛𝑠 𝑎𝑟𝑒 𝑏𝑎𝑐𝑘
𝑆ℎ𝑖𝑙𝑙 𝑦𝑜𝑢𝑟 𝑐𝑜𝑖𝑛𝑠
In anticipation of
@ZeePrimeCap
-3,
@mattigags
has formed his strongest thesis on
@GearboxProtocol
so far: "ivangbi new SBF". My lawyers are already on this case for defamation... Jokes aside, great ideas as…
And_others_angel_capital is glad to contribute to the growing security risks of Ethereum economic models due to more native leverage instruments 🫡 The more we restake, the faster we go to 0, the more time we can dedicate to our families. Uponly.
speaking of making a few tokens at a time...
these guys already made 4-5 different tokens in the course of 12 months?! and getting $ARB STIP rewards for each of those?
The Magpie Ecosystem has officially begun receiving the STIP Grant stream from
@arbitrum
. Our platform will distribute 1.25 million $ARB tokens, valued at over $2.5 million, to Arbitrum users before March 29, 2024.✅
Allocation Details:⬇️
▫️
@Penpiexyz_io
: 500k ARB
▫️…
Relax frens, happens all around the world every now and then. Just don’t drink the sewage poopwater… a little swim otherwise never hurts. See you at the events tomorrow! Walking around, having many great
@GearboxProtocol
integration chats, DeFi feels comfy and real 🫂
A great week in Istanbul, thank you everyone!
Saw a bunch of 🦞 hacking & playing pingpong, learned from MEV/PBS brains like
@_vshapovalov
@adietrichs
&
@tkstanczak
, got ddoxxed by king
@mattigags
, and overall had a bunch of great conversations.
Also did a recording with chad…
Looks like I “lost” the bet and need to fly
@gabrielhaines
into Dubai for 2049 and feed him a 🦞… choose the cheapest luggage compartment ticket ser 🫡 Oh and also you aren’t allowed to show tiddies in here or we both go to jail…
In Gearbox DAO's previous GIP, members voted to remove the ninja pass and increase LRT limits because We Heard You.
Though, one aspect remained unchanged: the minimum ETH borrow requirement. This requirement is essential to keep liquidations efficient in a high gas environment.…
Restricting information & knowledge to paid chat rooms, especially by projects, is a bad idea. Everything must be open: that invites new ideas, new dev contributions, and so on. As such, FT for projects is 100% a no-go. For boob pics OF style or paid shitchats - sure idk 🤷
Safety and security of user funds (and my ow fking moneys obviously) are of utmost priority for
@GearboxProtocol
. That's why you see more proposals popping up:
- to increase the risk monitoring initiative (vote passed);
- onboarding
@chaos_labs
(vote is live) to make sure users…
Oh wow, the limits were lifted and barely a few minutes passed... and now all the caps have been filled by new leverage restakers 👀 Impressive speed! The utilization is at 90% and the supply rates are at 23% passive 🔥
To avoid cases where the base…
The longer PURE margin trading is live 🍀 the less I see the need in perps... I mean that as a leverage user, not as an industry primitive, don't worry. It's just that the amount of risks perps expose you to - is so high... You need the perp engine to work well, you have to…
A month since PURE went live and of all the metrics available, these 2 highlight why PURE matters: Traders realised profits and yet lenders earned positive yields.
This is why PURE was built, to make trading fair, to harness deep DEX liquidity, to make leverage non 0 sum. ⚙️🧰
Everyone wants to cultivate a community. But 99% of communities are cults attracted to price charts. Meaning, to cultivate a community - your goal is to make PnDs, airdrops, and other super shady shit devs don’t aspire to do when they set sail. As such, market participants are…
Haven't opened WeChat since 2020...
But it seems that Asian whales are our frens again 🫡
Hello sers whales, we need you to buy all our bags.
Installing back your green app 🍏
Getting excited for
@GearboxProtocol
... Why?
- 2023 was all about fixing the codebase, to enable the ability to LEVERAGE ANYTHING. Making it modular and composable, offering both leverage farming and margin trading.
- January 2024 was all about getting monitoring and the…
The longer PURE margin trading is live 🍀 the less I see the need in perps... I mean that as a leverage user, not as an industry primitive, don't worry. It's just that the amount of risks perps expose you to - is so high... You need the perp engine to work well, you have to…
LEVERAGE LAYER OF EVERYTHING ⚙️🧰
Look what Gearbox did to $ETH: 25% organic passive rates with no IL! Now let's see what it does to $USDC... at 10%+ already & climbing.
Check the video and the article made by chads ⤵️
Leverage on USDe and sUSDe is now live. Earn upto 90X shards on USDe and 45X on sUSDe with a boost from
@ethena_labs
. Details:
Leverage Anything, Leverage Ethena: ⚙️🧰
No PvP sers, i love (hate) you all, but - bring your 💰💰 into Gearbox passive side . The rates are likely to be at 20%+ soon if utilization path goes as planned.
PS: it now also has a 150 $ETH reserve fund 🛡️ And also $200,000+ for the $USDC pool.
Gearbox’s ETH lending pool offers the best APYs in its category at the moment.
~39% higher ETH yield than the second best. GEAR rewards make it 2.76X higher
With LRTs paying 17% upto a $100M cap, this remains a great opportunity for passive lending:
Useless rug industry. Send it down to 12k 🖕
There is "having fun", there is "community hype", and then there is direct fraud. It went really far really fast with the fraud part. Raising dozens of millions for memecoins is not "peak community engagement". Don't lie to yourself.
🎉 The
@BitcoinCats1Cat
#1cat
IDO has come to a great success! We received 37,383 $ETH, 73M $BAKE, and along with other tokens, the total comes to $106M in USDT.
🤑 We've oversubscribed by 150 times, and the excess will be refunded within 12 hours.
🚀The
#1cat
tokens on…
Gearbox's TVL has now crossed $300M, an all time high. But this is only one of the 10 key metrics to currently be on ATHs. Let's look at all that is currently on ATH for Gearbox. ⚙️🧰
Apart from the TVL, the lending supply is on ATH too, rising from $26M to $257M in 60 days. The…
Did the last cycle start with 100s of grifters running around creating memecoins? And founders saying their own projects have no value and supporting scams? Don't think so.
@0xTheInvincible
Ye it's pretty fucked ngl, sold 0 tokens and
@apeir99n
not even getting a salary for a year. So far been lowkey a charity for everyone... But the spirit, tech, and plans are high - that's what counts. Nothing more to say 🦹
@joel_john95
post is relevant:
@kankanivishal
@joel_john95
Similar to what lockups try to achieve, you could sometimes make the conditions less drastic ▶️ The lack of fundamental buyers over some period of time and illiquidity that causes - can be smoothened out. For example, market makers trying to sell & later on support the price of…
gay water is cheaper, confirmed by japan 🎎
raising a fund to run leveraged water carry trade
perhapsa a new
@GearboxProtocol
integration?
ps: of course i bought 5 bottles for 130 only to discover the cheaper gay water in the wending machine 50 meters away from the main road
In Prague'18, everybody seemed to be young & single: coding, eating ramen, playstation... This time at
#ethCC
'23, everybody had a wife or a husband, at least one child, properties, loans, taxes... What have we become!
Petitioning to have the next ethCC at some onsen:
1⃣ MEV &…
I heard that some little whiny losers are spreading fake lies of “ivan sells his angel bags OTC”… Gfy & smd 🫠 Show me more than two examples of that happening over the course or 6 years aka 3 cycles at this point. In both cases, it was more than 1 year after investing and after…
Passively earn 10%...15%...20%+ on $ETH & $USDC? Comfy!
One-sided.
No liquidations.
Audited. 6 times.
No impermanent loss.
Has reserve fund of $300K+.
⚙️🧰
Over the week, we've had 𝟯,𝟬𝟬𝟬+ 𝗘𝗧𝗛 ($9M) deposited to passive lending pool with APYs as high as 15% 💧 And with 4K ETH available to borrow and upcoming LRT borrows paying 16% APY, rates are likely to rise again!
So what APYs could you earn by lending ETH w/o leverage? 🧵
There’s now over $4.1M worth of $GEAR staked in gauges with a 28 day lock 🤯
And all of this to let lenders and borrowers organically influence the rates for different assets.
But after the recent volatility should these rates be reworked? Let’s have a look 🧵👇
@euler_mab
💀 ☠️
Now imagine how Ethereum core protocol devs feel, who literally work without any upside to practically enable all this shittery! They probably code and cry at the same time? We at least have some (fake) upside potential, they don’t, at all.
Gearbox pools have been at 90% utilization for an entire month, crazy! I won't talk of earnings yet (
@MessariCrypto
did an awesome report, unsponsored btw). My question is: with the upcoming quota rates voting for Monday, what should the rates be? For ezETH, weETH, USDe/sUSDe? 🤔
Idk if this is so hard for you to understand, but:
Users want only gamble fomo -> devs switch to making gamble fomo instead of protocols -> there is nothing beyond churning PnD centralized apps -> everybody is scamming each other -> there is no user stickiness -> there are no…
Useless rug industry. Send it down to 12k 🖕
There is "having fun", there is "community hype", and then there is direct fraud. It went really far really fast with the fraud part. Raising dozens of millions for memecoins is not "peak community engagement". Don't lie to yourself.
here to remind you that
@GearboxProtocol
supply rates (regular passive lending with no fees) are consistently high and huge: 40%+ on $USDC and 30%+ now on $ETH. see . worried about security and unsure where this comes from? check the quoted thread below 🫂
security, security, security
At Gearbox, our top priority is to provide the safest possible protocol for your capital 🛡️ To make that possible, there are multiple measures we take to fortify security, so you can lend & borrow peacefully.
From monitoring tools to audits to... 👇
Cool developments
@SCBuergel
shared with regard to "private RPC" they are pushing into the world. The setup allows them to bake into some other product USPs provided by different partners, for example, MEV protection & more. Depends on what the package is. The default reason is,…
It looks like I had less than one angel investment per 2 months over the last 1.5 years. Guess I am not spraying and praying (glad about that ethically) but that could also be financially wrong. Ethena, Renzo, Monad, SAX, Hedgehog, Alkimiya… but fully missed infra and AI 🚂🛤️
The protocol is fully operational, no bad debt, all worked as designed ✅ Despite large volatility on the market and even tiny worries of depegs, Gearbox users are safu and are not liquidated 🫂 There have only been 4 liquidations on mainnet and 1 liquidation on Arbitrum:
-…
$50M+ LETS GOOO 🫡
I know this isn't that big for some of you whales, but it's good to see the revival! Devs hard working (not me) is finding some PMF.
If this hits $100M+ by end of Feb...
I WILL FY TO
@gabrielhaines
AND FEED HIM A LOBSTER
PS: $150M+ and I rub his tiddies 🆔
There is literally no way to get exposure to those infrastructure shitmoons. Even if you know it will moon and even if you know months in advance about listings (not that many do, but even if they do) 🥹
- investors & angels get cuck locked for 2+ years
- e-beggars (joking) get…
Got a question about virtue signalling 🙋♂️
We need to align on this sers / s
Are we allowed to cry about:
- centralized exchange fees
- market maker DWF PnD
- BSC and its limited validators
- TON and it's unknown billion supply
When "we" have:
- the top VC backing weird scammy…
Hypothetically speaking 👀 If
@GearboxProtocol
finally goes to
@optimismFND
, what assets for margin trading + leverage farming you'd want? What is hip these days?
PS: need to start putting in the work the for growth grant, i am coming for your pipis
@TWlTTERGM
@MattLosquadro
Over the last 22 days,
@GearboxProtocol
PURE has increased
@Uniswap
's trading volume by ~$38 million through the opening and closing of Credit Accounts. Extrapolating this linearly, we can anticipate an annual influx of ~$630 million in new volume for Uniswap pools.
... and…
1/ There's a meme going around that Blast is a ponzi. The yield that Blast provides users can feel too good to be true, so this meme is understandable. But to put it simply, the yield Blast provides comes (initially) from Lido and MakerDAO.
Lido yield comes from ETH staking…
See the case of paraswsp vs everyone else. Also, sybillors dumping can be easily eaten by a good market - meanwhile, even a tiny distribution will totally rekt your chart with a bad market. Too many externalities.
GM, calling all rich passive enjoyers!
Take your $USDC and $ETH and come to Gearbox passive lending. No fees, no impermanent loss, no lockup... 𝟮𝟬%+ 𝗼𝗿𝗴𝗮𝗻𝗶𝗰 𝗔𝗣𝗬 with some GEARs on top 🐋🐳
Arigato gozaimasu ⚙️🧰
Btw I am not even bitching per se, just saying how it is. I at least can have time off in-between launches, is fun stuff, but being a dev securing TVL like
@0xmikko_eth
must feel 100 times worse
Thanks to
@tarunchitra
&
@dabit3
for advertizing Gearbox leverage restaking (joking, they didn’t, they want the quota limits to themselves for those extra points). Overall a cool
@ETHDubaiConf
thx
@patcito
Great thread! Seems that borrow rates on Gearbox got even better today - meaning price per EIGEN point is cheaper cc
@RenzoProtocol
👀 There is new passive $ETH available to borrow too. You are liquid all the time, in-and-out 24/7. Pay for the period you want to be in. No more 🫡
The Eigen Team dropped alpha about the "Wen Eigen Live" question on
@DeFi_Dad
's stream with an early Q2 date. 🤯
So we ran the numbers for you to find out how your cost per EL point is affected if EL Point farming ends early Q2. And what that means for the
@WhalesMarket
arb👇
Ready for ████████ Gearbox?
Posting a deep dive on lending protocols design on Monday, including snippets of some new features 👀 But before we dive into that, let's first look at:
1. Gearbox Protocol accumulated $0 bad debt during the liquidations ✅ Meanwhile, passive…
Look at the green... That's the entire point of PURE (spot real) assets ⚡️ You can go 10x short or long, but the protocol doesn't mind if your trade was good or bad, and neither do you. Gearbox is not your "counterparty"! You basically margin trade on
@Uniswap
👀
The $YFI…
This morning's perp shenanigans are a prime example for why V3 was built 🌩️ PURE is about real spot liquidity!
- no price wicks
- no funding rates
- infinite* dex liquidity to trade with
You will quite literally be going 10x short/long on Uniswap & Curve, and not in some…
Gearbox's passive lending and leveraged borrowing sides are well known. But, there's a third side that enables lenders to become truly passive and ensures a safer experience for borrowers.
Meet 𝙍𝙞𝙨𝙠 𝘾𝙪𝙧𝙖𝙩𝙤𝙧𝙨 and taking up that role soon,
@chaos_labs
. ⚙️🧰
«memecoins are honest, because they don’t promise you things they don’t deliver, there are no false expectations»
«memecoins are better than vc bags, because there are no insiders who will dump on you or sell you bullshit stories»
«memecoins are proper fair launches»
*hard* disagree
you only hear about the winners on your TL, but that's pure, non-distilled survivorship bias. The reality is that memecoins are a zero sum game, so for every winner there's a loser.
And without getting into too much detail, this game *is* stacked against you too
Lending rates are higher now yet safer than 2021? No fancy strategies or complex smart contracts, just overexpectations due to fancy points and airdrops. I am in 🙇🏻♂️
4 of Gearbox's lending pools are now generating 27.5%+ 7D avg APY. Supply your ETH and earn 24.9% APY or earn 40%+ APYs on 3 different stablecoins: USDC, DAI and GHO. 💸
Lend passively and earn these yields without IL, lockups or a fee only on: ⚙️🧰
- more points on passive side for $ETH: get 25% organic + $GEAR + ezPoints
@RenzoProtocol
- leverage restaking on
@arbitrum
- LONG into leverage restaking
integrations keep on coming 🫂
𝗲𝘇𝗣𝗼𝗶𝗻𝘁𝘀 𝗳𝗼𝗿 𝗟𝗲𝗻𝗱𝗲𝗿𝘀
ETH lenders will now be able to earn ezPoints on:
The boost will be equal to the share of ezETH in LRT borrows on Gearbox. Currently, on Mainnet, ezETH holds a 46% share, translating to a 0.46X boost for lenders.
PS: I am not saying do it if you have tiny traction, or if you just started, or if you narrative is at 0 hype (btw fix it up then, not that hard). I am not enticing PnD. Just saying that if your only waiting reason was for better conditions (as many waited for that) - it's here!
Gearbox has timelocks & other safety features. In that context,
@0xmikko_eth
threads how to spot integrations going live w/o having to rely on announcements. Don't forget, Gearbox is fully source-available and onchain.
Full restaking guide for users 🛡️
WEN NEW ASSETS COME?
Many users have asked when the ETH credit manager will be launched or when Renzo (or another new asset) will be available. Let's put on our Sherlock hat and conduct our own investigation... [some alphas there]
Time to try executing THE SHOT 🫡
Devs are ready to ship relevant stuff, that means it’s time to shill. The product is genuinely cool, UIs were majorly improved, it is in a very market-needed segment… just need to execute and show it to the world now. Onwards!
𝗙𝗲𝗯𝗿𝘂𝗮𝗿𝘆 𝗯𝗲𝗴𝗶𝗻𝘀 🧵 𝗦𝗵𝗶𝗽𝗽𝗶𝗻𝗴 𝗶𝗻𝘁𝗲𝗻𝘀𝗶𝗳𝗶𝗲𝘀
For Gearbox, 2023 was all about preparing for the integrations ahead. We took a looong time to make the architecture modular and retain composability (these are not just hype words, we have been on that…
security, security, security ⚙️🧰
It’s not just audits and bug bounty, not just tests and monitoring systems - but the open tool for liquidations, the modular architecture, the collateral limits on assets, etc 🛡
@GearboxProtocol
devs don't sleep.
See ⤵️
security, security, security
At Gearbox, our top priority is to provide the safest possible protocol for your capital 🛡️ To make that possible, there are multiple measures we take to fortify security, so you can lend & borrow peacefully.
From monitoring tools to audits to... 👇
"I think you’ll see credit stay overcollateralized, which is where most credit deals are today" (c)
@OneMorePeter
. Let it be 💡 Web3 credit doesn't need to rely on trust, just let the blockchain handle all the logic. Overcollateralized leverage is possible with
@GearboxProtocol
“I can only speak in a general sense about the Three Arrows situation. The reality is that disclosures and risk reporting only work when the reports submitted are accurate.” 👀
This ⬇️ "What if points stop, what does
@GearboxProtocol
do then?" - points simply amplify volatility, the actual source is the green market. New points will come. New yields will come. Ethena released and keeps kicking higher.
Modular leverage layer will integrate them all 😶
The infinite sum game taking another step forward ♾️
Lots of people wondering "What's after points?" are forgetting the bigger picture.
You're getting a glimpse of it right here. Infinite scaling. Infinite yield.
And AVS rewards aren't even live yet.
IYKYK.