DeFi All Day (🍗,🍗) 🔻

[DeFi All Day (🍗,🍗) 🔻 @0xdefy]

@joaorcsilva Right, for the pool on Swerve. Mostly MEV and some DEX aggregators. I was an LP farming it for 20% APY for a long long time.

I meant that I don’t understand the SWRV token. $2M market cap and $70k in token volume in 24h. Active on OKX and MEXC. But zero utility!

[DeFi All Day (🍗,🍗) 🔻 @0xdefy]

@joaorcsilva Cool. I still don’t get why anyone continues trade SWRV. Makes no sense.

[DeFi All Day (🍗,🍗) 🔻 @0xdefy]

@joaorcsilva Okay.

So going back into the pool as a liquidity provider only faces the standard risks of doing such but no longer any governance risk.

And the swerve token which was practically dead before this governance episode is now 100% useless.

Correct?

[DeFi All Day (🍗,🍗) 🔻 @0xdefy]

@joaorcsilva So is this the end of the story? Nothing else ever changes with the protocol but it just continues to operate?

[DeFi All Day (🍗,🍗) 🔻 @0xdefy]

@joaorcsilva What’s the next step here?

[DeFi All Day (🍗,🍗) 🔻 @0xdefy]

@joaorcsilva 2/ I also don’t like the idea of moving funds to a new contract where stale wallets will be confused if they ever reactivate. There’s no easy way to communicate with all these wallets and so it’ll be confusing.

[DeFi All Day (🍗,🍗) 🔻 @0xdefy]

@joaorcsilva I voted for the new plan.

1/ There’s nothing unique that swerve offers relative to any other DEX, and so governance is better off dead than potentially coming back. Let’s have closure.

[DeFi All Day (🍗,🍗) 🔻 @0xdefy]

@KhosruU @Twitter @elonmusk Same here

[DeFi All Day (🍗,🍗) 🔻 @0xdefy]

@joaorcsilva This was their last attempt. Over two years ago. I’m not following what changed between then and now that quorum is possible.

[DeFi All Day (🍗,🍗) 🔻 @0xdefy]

@joaorcsilva Maybe I’m not following how governance became reactivated. Is it because you were able to acquire a significant enough supply of SWRV and stake it as ve and get other holders to vote along side you?

I’m not following why the core team could not have done that.

[DeFi All Day (🍗,🍗) 🔻 @0xdefy]

@joaorcsilva Much of the deposits are from inactive wallets that will probably never recover anything.

Also what are the execution risks?

[DeFi All Day (🍗,🍗) 🔻 @0xdefy]

What would you say to these people if you could look them in the eye?

[JW (jay,dub) @builderjaydub]

$SDOG is truly a rug artist. 3 whale wallets that were recently funded and have only interacted with sdog dumped 20 mil in total within the first seconds when they opened snowswap dex. They did everything in disguise that they were normal users, but wallet history suggests not.