minimizing mutual servers | xn--k3h10bp281i.y.at | curator @lohonke | ribbonati @rhatribbon | 🦇🔊

Joined May 2021
ThetaDAO $theta is backed by a treasury of Risk Free Value comprising short covered call 10 delta weekly vault positions, bonded from @ribbonfinance @StakeDAOHQ @ThetaNuts and probably 5 other ones in the works sustainable yields unsustainable (?) price speculation
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this doesn’t exist yet but could see it owning a significant portion of these vaults’ TVL
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imagine @iearnfinance as ohm: * bond usdc and other stables to yearn treasury * yearn deploys to its various strategies * user receives (and stakes) $yfi which trades at some speculative multiple of protocol’s risk free value / owned liquidity defi 1.0 -> 2.0
ohm, and especially ohm forks, are custodied yield farms in disguise. they just do a great job of tokenizing speculation on how much ppl will continue depositing into the (fairly conservative) farms
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ohm, and especially ohm forks, are custodied yield farms in disguise. they just do a great job of tokenizing speculation on how much ppl will continue depositing into the (fairly conservative) farms
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though some manage to pivot to real value add (eg. olympus pro) which makes them something more than “just” a yield farm
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Tokens are the culmination of shares, dividends, ipo's, fund raising, and loyalty programs. I've gone 180% on my 2017 ethos. I now believe everything that can make money, should have a token.
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with all the DAO stuff, i think we’re about to reinvent (rediscover) Token Curated Registries
Are there any community NFT projects, in which existing holders, have to vote to approve any sale (kind of like a coop board) where the would-be buyer is evaluated based on some kind of provable on-chain history? (having good taste or good trading acumen possibly)
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gasless voting (@SnapshotLabs) of addresses in/out of a list that gating dapps (@Collab_Land_ @AgoraSpaceDAO @guildxyz) use to cross check users
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.@arbitrum is an extremely high-skilled pvp arena where grizzled degens will relieve you of your hard earned chMIMs faster than you can say bond
Arbi’s Finance is proud to announce our largest development yet: Arbi’s Food Court! Come on down to the Arbi’s Mall and experience an assortment of new dishes (1/8)
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who audits the auditors? the audited, of course!
After we open source audits for primitive, we are going to be publishing our own review of the auditors
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0xaeto retweeted
Part 1: In the last few weeks, Bitcoin has made an impressive rally on the back of potential ETF approvals and just pushed to a 62,910 high on the back of the Valkyrie and Proshares approval. Here’s our take on the matter. 🧵
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Alarm goes off, pitch dark ⏰ Jfc. I heave myself out of bed and check the screens. @kenchangh and @juliankoh have pinged me 5x already, each. Gm back! Today, just like last week, next week, and every foreseeable week, we buy options and get the @ribbonfinance vaulters paid.. 🧵
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3/ Fire up @GnosisAuction page (very unintuitive platform at first). Auctions are open to anyone though they're mostly dominated by professional market-makers like @ledger_prime @OrthoTrading @QCPCapital
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4/ Auctions clear at the highest maximally utilized price; practically this means one of the MMs anchors with most of the size at their best price, and if you bid smaller at or slightly above you'll get some allocation
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5/ No one bids until the last minute as you can't change your bid once submitted, and you don't want to give away more information to other market participants. As the vaults scale up there's probably more game theory to think through
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6/ Caveat is if you bid too late, or cheap out on gas, then your tx might not make it in time. I'm not sure if there's a solution to this besides moving to gasless or an off-chain solution. You also have to eat a tx fee for each bid and retrieval of collateral or won options
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7/ Anyway, I caught some WBTC 10/22 70k calls today and paid the vaultooors their due. This is the magic of @ribbonfinance.. not only do the vaults get paid, but anyone who wants to take the other side can participate as they wish. Now ETFs, LFGG! 📈
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Over the course of 2022, we have seen the rise of what has been called "DeFi 2.0". As a farmer, degen, student, and builder in DeFi, the vision of the future of DeFi is beginning to materialize in my mind's eye. 🥁 THREAD TIME
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