0xLoki
@Square-Creator-4ab582730
Twitter: @Loki_Zeng
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Since ancient times, big hair has been given away for free
UNI OP ENS ARB TIA
Just charge 150U and don't limit the amount...
UNI OP ENS ARB TIA
Just charge 150U and don't limit the amount...
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The eETH PT implied APY on Pendle with a 150-day term has reached 30%+
The combined TVL of Blast+Manta is approaching $2B, and there are more $B-level L2s and $100M-level LRDs on the way
The chaos is also after a huge bubble
Can't find a reason to be bearish on ETH in 2024H1
#ETH
#ć ćźčæçż
The combined TVL of Blast+Manta is approaching $2B, and there are more $B-level L2s and $100M-level LRDs on the way
The chaos is also after a huge bubble
Can't find a reason to be bearish on ETH in 2024H1
#ETH
#ć ćźčæçż
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1/ Regardless of actual impact, Cancun upgrade & ETF can at least draw market attention back to ETH
2/ L2 and LRT are about to bring a new round of asset issuance frenzy (bubble), ETH, as the only real golden shovel, will be further scarce
3/ The exchange rate retreats to 0.055, ETH becomes the best target for BTC profit-taking funds seeking rotation and missed-out funds seeking catch-up
4/ What does grayscale selling BTC have to do with ETH, if they want to sell ETH, they will have to wait until ETF is approved first, there might be false killing
ETH is a very good target at least in the first half of 2024
Already rushed in, whatever
#ć ćźčæçż
#BTC
#ETH
2/ L2 and LRT are about to bring a new round of asset issuance frenzy (bubble), ETH, as the only real golden shovel, will be further scarce
3/ The exchange rate retreats to 0.055, ETH becomes the best target for BTC profit-taking funds seeking rotation and missed-out funds seeking catch-up
4/ What does grayscale selling BTC have to do with ETH, if they want to sell ETH, they will have to wait until ETF is approved first, there might be false killing
ETH is a very good target at least in the first half of 2024
Already rushed in, whatever
#ć ćźčæçż
#BTC
#ETH
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Update it
In the past few hours, Michael collected some assets to repay the loan and adjusted the loan distribution, exchanging some cvxCRV into CRV to supplement the margin.
The health factor becomes 1.35-1.4, and the liquidation trigger price drops to around 0.33
But once it was triggered this time, several positions exploded at the same time.
The bigger problem is that the coefficient of UwU is also below 1.4
The two accounts Sifu and SifuVision provide approximately 30% of UwUâs stablecoin liquidity.
The detonator has been handed over to Sifu.
In the past few hours, Michael collected some assets to repay the loan and adjusted the loan distribution, exchanging some cvxCRV into CRV to supplement the margin.
The health factor becomes 1.35-1.4, and the liquidation trigger price drops to around 0.33
But once it was triggered this time, several positions exploded at the same time.
The bigger problem is that the coefficient of UwU is also below 1.4
The two accounts Sifu and SifuVision provide approximately 30% of UwUâs stablecoin liquidity.
The detonator has been handed over to Sifu.
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As a reminder, Curve founder Michael Egorovâs CRV debt position is once again at risk of liquidation
At present, he has borrowed more than 54 million U on multiple lending platforms. The collateral and remaining assets in the wallet are mainly Curve
There is another interesting thing. Michael has borrowed a lot of U from Silo and UwU in the past 24 hours to repay the FRAX loan, replacing the Frax loan with a loan with a lower interest rate while avoiding falling into a loan sharking mode due to excessive utilization. 0xSifu is like this again Two major liquidity providers for lending protocols, providing 12m and 2m stablecoins respectively
Some time ago, @DeFi_Made_Here pointed out that 0xSifu was suspected of borrowing CRV from Silo for short selling. After Michael reduced the amount of CRV deposits and raised the interest rate, sifu repaid the loan.
But now Michaelâs health factors in UwU and Silo are only about 1.4. If someone borrows CRV again, it is likely that they will not be able to lower their CRV deposits like last time, because Michael will be liquidated before short sellers.
Letâs see what happens next đ
At present, he has borrowed more than 54 million U on multiple lending platforms. The collateral and remaining assets in the wallet are mainly Curve
There is another interesting thing. Michael has borrowed a lot of U from Silo and UwU in the past 24 hours to repay the FRAX loan, replacing the Frax loan with a loan with a lower interest rate while avoiding falling into a loan sharking mode due to excessive utilization. 0xSifu is like this again Two major liquidity providers for lending protocols, providing 12m and 2m stablecoins respectively
Some time ago, @DeFi_Made_Here pointed out that 0xSifu was suspected of borrowing CRV from Silo for short selling. After Michael reduced the amount of CRV deposits and raised the interest rate, sifu repaid the loan.
But now Michaelâs health factors in UwU and Silo are only about 1.4. If someone borrows CRV again, it is likely that they will not be able to lower their CRV deposits like last time, because Michael will be liquidated before short sellers.
Letâs see what happens next đ
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Only then did I discover that BNBâs 0628 delivery contract had a negative premium of 2.8%.
Iâm not sure what the normal premium rate of BNB is, if itâs calculated as +2.5%
Buy spot and short futures at a positive premium position, and you can buy new ones in each period for free.
And now there is a 5% floating profit, you can advance, attack, retreat or defend.
For a slower one, if you enter the market at the current market price, the cost is 2.8% + handling fees and wear and tear, and the income is new income in each period from now to June.
Wonderfulđ
Iâm not sure what the normal premium rate of BNB is, if itâs calculated as +2.5%
Buy spot and short futures at a positive premium position, and you can buy new ones in each period for free.
And now there is a 5% floating profit, you can advance, attack, retreat or defend.
For a slower one, if you enter the market at the current market price, the cost is 2.8% + handling fees and wear and tear, and the income is new income in each period from now to June.
Wonderfulđ
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This research report by Martrix is ââso confusing that it is hard to imagine that it was written by a regular practitioner from a regular financial institution. Here are some excerpts:
1/ The standard for judging whether a trader is good or bad is how much money they make when their judgment is correct and how much they lose when they are wrong.
2/ All of our views are supported by data, balabala, but we canât get any data on the upcoming ETF approvals
3/ The U.S. Securities and Exchange Commission (SEC) will approve a Bitcoin spot ETF in the U.S. a decade after rejecting it, and its discount has been reduced to -8%, indicating a 92% chance of pricing approval
ps: According to this logic, if gbtc has a premium of 1%, the possibility of pricing approval is 101%?
1/ The standard for judging whether a trader is good or bad is how much money they make when their judgment is correct and how much they lose when they are wrong.
2/ All of our views are supported by data, balabala, but we canât get any data on the upcoming ETF approvals
3/ The U.S. Securities and Exchange Commission (SEC) will approve a Bitcoin spot ETF in the U.S. a decade after rejecting it, and its discount has been reduced to -8%, indicating a 92% chance of pricing approval
ps: According to this logic, if gbtc has a premium of 1%, the possibility of pricing approval is 101%?
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More importantly, this is not a deposit but a bond
It is equivalent to Evergrande selling you a bond with a face value of 100 at a price of 100u, with a daily interest rate of 0.5%.
After Evergrande gets the money, 80%+ will be used for real estate speculation, and 10% will remain in the account. If you want to withdraw it, you can use this money to redeem it.
Evergrande borrowed money from 100 people and got 10,000U, 1,000U in cash on the books and a 9,000U house.
Whether Evergrande can pay you back depends on two factors:
1) If Evergrande can continue to borrow money, there will always be cash in its books to return to you.
2) If Evergrande cannot borrow money, it will need to use the house to pay off the debt after running out of cash on the books. This situation may cause the capital chain to break and housing prices to plummet.
As for whether you should lend money to Evergrande, and whether it is more profitable to lend money to Evergrande or to buy a house in Evergrande, it all depends on your opinion.
It is equivalent to Evergrande selling you a bond with a face value of 100 at a price of 100u, with a daily interest rate of 0.5%.
After Evergrande gets the money, 80%+ will be used for real estate speculation, and 10% will remain in the account. If you want to withdraw it, you can use this money to redeem it.
Evergrande borrowed money from 100 people and got 10,000U, 1,000U in cash on the books and a 9,000U house.
Whether Evergrande can pay you back depends on two factors:
1) If Evergrande can continue to borrow money, there will always be cash in its books to return to you.
2) If Evergrande cannot borrow money, it will need to use the house to pay off the debt after running out of cash on the books. This situation may cause the capital chain to break and housing prices to plummet.
As for whether you should lend money to Evergrande, and whether it is more profitable to lend money to Evergrande or to buy a house in Evergrande, it all depends on your opinion.
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All things Pond's that seem complicated are not complicated if you use liquidation value to understand them.
If you deposit 100u, it seems that the book value is 100u, but u's reserve is only 10%, so the liquidation value is 10u. The small difference of 90u constitutes the liquidation residual value of the unstable asset, and most of it is shared by the people in front of you.
If you deposit 100u, it seems that the book value is 100u, but u's reserve is only 10%, so the liquidation value is 10u. The small difference of 90u constitutes the liquidation residual value of the unstable asset, and most of it is shared by the people in front of you.
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Staking $NFP for free $AI
Calculated on a daily basis, 40 million NFPs participate in the pledge, allocate 200w*2u AI, and earn 10% of the income at one time
Itâs easy to make profits and lose principal (by the way, how many times is this broken plan worthy of being previewed?)
Iâm going to sell $NFP and Iâm still making a little profit.
(There may be some profit from hedging pledge or auction.
Calculated on a daily basis, 40 million NFPs participate in the pledge, allocate 200w*2u AI, and earn 10% of the income at one time
Itâs easy to make profits and lose principal (by the way, how many times is this broken plan worthy of being previewed?)
Iâm going to sell $NFP and Iâm still making a little profit.
(There may be some profit from hedging pledge or auction.
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avax starts supporting memes
Little Solana next door posted a đČmeme last week
The founder of the public chain pays attention to the milk in person
Less than $1m after deducting the destroyed portion of FDV
Be careful when buying lottery tickets.
The only drawback is that the pool is a bit shallow, and the market rate is about 2%-3%đ
(Picture mismatched, please repost)
Little Solana next door posted a đČmeme last week
The founder of the public chain pays attention to the milk in person
Less than $1m after deducting the destroyed portion of FDV
Be careful when buying lottery tickets.
The only drawback is that the pool is a bit shallow, and the market rate is about 2%-3%đ
(Picture mismatched, please repost)
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A very useful strategy in bull markets:
During each wave of correction, buy the stocks that have fallen lower than btc/eth and rebounded faster than btc/eth.
During each wave of correction, buy the stocks that have fallen lower than btc/eth and rebounded faster than btc/eth.
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Exchange business, one end is assets and the other end is users
The asset side is investment and currency listing. After SBF eliminated FTX, Binance Labs is far ahead
The client is the wallet in the current cycle, and OKXâs Web3 wallet is far ahead.
Binance understood the asset management, and then spent a long time to organize the mini program, payment, content square, and wallet, but it didnât actually understand it. Now the answer to OKX is written on the blackboard. Itâs very difficult for Binance to go back and develop the user terminal. Reasonable
Looking forward to binanceâs efforts on the user side, and also looking forward to OKXâs performance on the asset sideđđ
The asset side is investment and currency listing. After SBF eliminated FTX, Binance Labs is far ahead
The client is the wallet in the current cycle, and OKXâs Web3 wallet is far ahead.
Binance understood the asset management, and then spent a long time to organize the mini program, payment, content square, and wallet, but it didnât actually understand it. Now the answer to OKX is written on the blackboard. Itâs very difficult for Binance to go back and develop the user terminal. Reasonable
Looking forward to binanceâs efforts on the user side, and also looking forward to OKXâs performance on the asset sideđđ
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1/ What is Surf Finance? What's the difference?
A decentralized derivatives exchange on Base. Uniswap is the first permissionless spot dex and Surf Finance is the first permissionless derivatives exchange.
Anyone can choose to list a specific trading pair, even if this currency does not list derivatives on any CEX/DEX.
Specifically, some small currencies and high-tax currencies, such as the recently popular $Token, can open a pool in Surf Finance. The threshold is very low, and the Base chain handling fee is also very low, so the transaction experience will be better.
2/ How to implement permissionless transactions?
A Liquidity Provider (LP) voluntarily provides liquidity and assumes the profits or losses of another trader on any specific asset position. To put it simply, anyone can take the initiative to open a pool and act as an LP and be responsible for their own profits and losses.
The price of the contract is determined by a combination of Oracle and TWAP prices. The risk structures of currencies with different liquidity, market value, and volatility are also different, so the LP thresholds and handling fees corresponding to different assets will also be different. If there are enough LPs, market competition will eventually lead to the optimal allocation.
3/ How to distribute handling fees
LP takes 80% of the handling fee, 100% of the capital fee, 90% of the liquidation residual, and 100% of the user's net profit and loss. It is very clean. Based on these fees and LP's implementation method, many matryoshka dolls can be made. It may be a series of products.
4/ Where is the space for imagination?
The competitive landscape of DeFi basic protocols on ETH has been relatively clear. However, derivatives are relatively less dependent on the asset nativeness of the main chain. It can be seen that all the newer L1/L2 are doing derivatives transactions. This is also the easiest way to grow bigger and stronger on the new public chain. Previously the most popular transactional protocol on the Base chain was Friend.tech, but now it is like One.
Focusing on the product itself, Surfâs license-free nature is currently the strongest competitive feature. In addition, the product essentially provides a [transaction method]. If this method is used on mainstream currencies/ERC-20 tokens, it will be in its current form. In the future, it can be expanded to all types of assets, as well as more complex structured products, on risk swap products.
5/ Are there any token/airdrop expectations?
The economic model has not been announced yet, and there is currently only a testnet.
https://twitter.com/surf_protocol/status/1718937047304753512
A decentralized derivatives exchange on Base. Uniswap is the first permissionless spot dex and Surf Finance is the first permissionless derivatives exchange.
Anyone can choose to list a specific trading pair, even if this currency does not list derivatives on any CEX/DEX.
Specifically, some small currencies and high-tax currencies, such as the recently popular $Token, can open a pool in Surf Finance. The threshold is very low, and the Base chain handling fee is also very low, so the transaction experience will be better.
2/ How to implement permissionless transactions?
A Liquidity Provider (LP) voluntarily provides liquidity and assumes the profits or losses of another trader on any specific asset position. To put it simply, anyone can take the initiative to open a pool and act as an LP and be responsible for their own profits and losses.
The price of the contract is determined by a combination of Oracle and TWAP prices. The risk structures of currencies with different liquidity, market value, and volatility are also different, so the LP thresholds and handling fees corresponding to different assets will also be different. If there are enough LPs, market competition will eventually lead to the optimal allocation.
3/ How to distribute handling fees
LP takes 80% of the handling fee, 100% of the capital fee, 90% of the liquidation residual, and 100% of the user's net profit and loss. It is very clean. Based on these fees and LP's implementation method, many matryoshka dolls can be made. It may be a series of products.
4/ Where is the space for imagination?
The competitive landscape of DeFi basic protocols on ETH has been relatively clear. However, derivatives are relatively less dependent on the asset nativeness of the main chain. It can be seen that all the newer L1/L2 are doing derivatives transactions. This is also the easiest way to grow bigger and stronger on the new public chain. Previously the most popular transactional protocol on the Base chain was Friend.tech, but now it is like One.
Focusing on the product itself, Surfâs license-free nature is currently the strongest competitive feature. In addition, the product essentially provides a [transaction method]. If this method is used on mainstream currencies/ERC-20 tokens, it will be in its current form. In the future, it can be expanded to all types of assets, as well as more complex structured products, on risk swap products.
5/ Are there any token/airdrop expectations?
The economic model has not been announced yet, and there is currently only a testnet.
https://twitter.com/surf_protocol/status/1718937047304753512
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Friend.techâs economic model explained: game theory, expected value, and the illusion of the demand curve
1. How to make a Ponzi social product
Friend.techâs economic model seems very simple: (1) Key price increases with quantity (2) 10% handling fee is charged for each transaction, which is divided equally between the protocol and Key issuer (3) Distribution to users in the next 6 months integral
The best way to understand the economic model is to assume the role of the project party, [If I were to design the economic model, what should I do? ă The starting point is that we want to make a SocialFi product, but past experience and the current abundant market liquidity make it difficult for us to be optimistic about this, so we hope to make a product with certain Ponzi attributes to complete the cold start.
Friend.techâs economic model seems very simple: (1) Key price increases with quantity (2) 10% handling fee is charged for each transaction, which is divided equally between the protocol and Key issuer (3) Distribution to users in the next 6 months integral
The best way to understand the economic model is to assume the role of the project party, [If I were to design the economic model, what should I do? ă The starting point is that we want to make a SocialFi product, but past experience and the current abundant market liquidity make it difficult for us to be optimistic about this, so we hope to make a product with certain Ponzi attributes to complete the cold start.
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Will Hong Kong enforce the law on cryptocurrencies? A comparative analysis between the SEC and the SFC
Space has talked about a topic before: Will the Hong Kong SFC be like the US SEC, crazy about defining securities and then supervising, investigating, and imposing fines?
The key point of this question is that we can't just look at what they say (organizational goals), but also how they do it (actual behavior). There is a very simple way to answer this question: understand the business and personnel composition of SEC and SFC
1. SEC: Investigation, Prosecution and Punishment
First, letâs take a look at the structure of the SEC. At the top is a committee composed of the chairman + 4 members, with 6 departments + 1 Office of the Inspector General + 11 offices. In addition, there are 11 sub-regional offices. It should be noted that these 11 regional offices need to report to both the Enforcement Division (Enforcement) and the Examinations Division (Examinations).
The key point of this question is that we can't just look at what they say (organizational goals), but also how they do it (actual behavior). There is a very simple way to answer this question: understand the business and personnel composition of SEC and SFC
1. SEC: Investigation, Prosecution and Punishment
First, letâs take a look at the structure of the SEC. At the top is a committee composed of the chairman + 4 members, with 6 departments + 1 Office of the Inspector General + 11 offices. In addition, there are 11 sub-regional offices. It should be noted that these 11 regional offices need to report to both the Enforcement Division (Enforcement) and the Examinations Division (Examinations).
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NFTfi drives the next bull market: SLOWLY BUT SURELYââNFTFi track panoramic research Part
1. We are on the eve of the explosion of NFTfi
The first thing that needs to be made clear is that the NFT and NFTfi markets have experienced a significant decline, but this does not mean that the NFT or NFTFi market has lost its growth potential. NFTfi is still one of the markets with the highest potential growth multiples. Still according to the technology maturity curve, when a new technology is born, it will climb to the top at the craziest speed, experience a possible bubble burst, and then slowly and steadily rise, entering real large-scale adoption. Looking at the development of the encryption industry, this development path has been verified many times, from the initial BTC, to the PoW boom, to the ICO boom and DeFi Summer.
The first thing that needs to be made clear is that the NFT and NFTfi markets have experienced a significant decline, but this does not mean that the NFT or NFTFi market has lost its growth potential. NFTfi is still one of the markets with the highest potential growth multiples. Still according to the technology maturity curve, when a new technology is born, it will climb to the top at the craziest speed, experience a possible bubble burst, and then slowly and steadily rise, entering real large-scale adoption. Looking at the development of the encryption industry, this development path has been verified many times, from the initial BTC, to the PoW boom, to the ICO boom and DeFi Summer.