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DeFi Top Stories
ETH-only RAI was a mistake
the ETH staking yield means that borrowing RAI against pure ETH will always have some % opportunity cost
the RAI redemption rate should almost always be negative to reflect this opportunity cost
decentralization is expensive, people don't want to pay
So yesterday a new protocol launched from within the depths of a certain Crustacean Kingdom (@10b57e6da0 ). Utility Credit, $GLO Glove, however you want to call it. Let's look at what it actually is as price is Literally UpOnly
So after hearing the news about dYdX changing its vesting date, I and @luigyGT were curious about exactly how they handled vesting in the first place.
What we found was not pretty 🧵
Damn it's been a spicy few days!
Many thoughts on the impact of inscriptions on Bitcoin in no particular order:
Unitl next week~