elliot

Code 🐒

[elliot @0xelken]

This has been going on for years and Booking don't care. I understand that the vector is compromise of the hotel management portals, rather than the whole of https://t.co/nqA6vzCi4y Infra. Rather than locking it down, they just blame the hotels for poor security. Also Booking has not locked down their email to prevent spoofing properly.

So with the combination of legitimate-looking spoofing + intimate customer details. Customers are essentially fish in a barrel for scammers, and Booking just sit and watch

[Kamino @kamino]

Kamino has crossed $1 billion in total RWA market size.

[Solana @solana]

BREAKING: @kamino announces off-chain collateral with custodial integration through @Anchorage, piloting with @Solana_Company

[elliot @0xelken]

@functi0nZer0 Literally what https://t.co/SR51NNg2uy was built for and you're fading it

[Marius | Kamino @y2kappa]

https://t.co/WRiwwbrdQ4

[elliot @0xelken]

@Serpent_OS Add a solana address!

[elliot @0xelken]

@Memecoin_Quant @RunnerXBT Use Kamino limit orders

[elliot @0xelken]

@y2kappa

[elliot @0xelken]

@mert @HardhatChad It looks unlikely that any improvements will upstreamed as it stands. Hopefully this can be reassessed https://t.co/eTkbUtHQp0

[Noah @redacted_noah]

The fact that every RPC provider has a custom priority fee API, and that the core open source RPC API has an implementation that basically doesn't work is ridiculous.

We need to stop shipping things that barely work to mainnet with no consideration of the devs downstream. If you're going to build a new feature, make sure it works up the full stack.

[Kamino @kamino]

1/ Introducing Kamino Swap

An intents-based exchange platform that will offer the best price execution at any size, for any token on Solana, powered by @PythNetwork

Zero slippage. Zero fees. Zero MEV.

Limit Orders are now live in open beta: https://t.co/NJdgIdS07p

[micr0 @MicroSound_]

@y2kappa volvos over lambos

[Tommy @TommyTran732]

@mer__edith - This has been known for a long time, you didn't do anything about it.
- What about the Signal TLS being outdated for a long time or the fact that it leaks info like no tomorrow? I sent the PR for you guys to merge on on a silver platter and no one merged it. You guys also...

[elliot @0xelken]

@y2kappa

[elliot @0xelken]

@vicyyn The `mint::token_program = token_program` shouldn't be needed iirc

[elliot @0xelken]

@0xLarry8 @torqueprotocol This is cool thanks for posting - curious - did you exclude bots?

[elliot @0xelken]

@toly @robertgraham In the UK pre-1992 pennies contain more than their marked value in copper

[Kamino Foundation @KaminoFdn]

$KMNO Genesis claims will go live tomorrow, April 30th, at 12pm UTC

The official claim link will be posted tomorrow from this account - do not trust any other links

[Marius | Kamino @y2kappa]

Alright, my first public RFC (Request For Comment)

Context
We want to satisfy the demand to extend Kamino Lend to long tail assets.

There is massive demand to long (or borrow against) them or to short them. We're blessed with a bull market explosion of tokens. Onboarding these coins unlocks dormant and unproductive capital in the ecosystem, it allows their holders to do more with their holdings and market yields to rise.

Problem
Long tail assets pose bad debt risk because of bad oracles and low/unpredictable liquidity. They ultimately expose lenders to bad debt and we do not want these assets in the main pool.

In classic B/L protocols, the most important users are the lenders. They want to earn yield without worry. They assume (but shouldn't) that liquidators will show up and close risky loans and make lenders whole. This is not always the case as we are painfully reminded once in a while.

Unfortunately, with long tail assets there may be really low liquidity and very high volatility at the same time (and even price manipulation). Liquidators may not show up and risky loans can go underwater, forcing lenders to take a haircut to their funds.

Proposed solution
In-kind liquidations - Allow lenders to become liquidators by redistributing the collateral to lenders with an outsized bonus for taking on illiquid collateral as repayment.

For example, if no liquidator shows up for 60 minutes to liquidate a loan that gives a 10% liquidation bonus - take that collateral + 30% bonus and give it proportionally to all lenders and net out the debt with lent amount.

If I am lending $100 USDC against WIF and the borrowers are not repaying and liquidators are not showing up - I may only get back $50 USDC + $80 in WIF (total of $130). It's on me to go and dump WIF to get back USDC, but I get a huge bonus for it.

This solution essentially removes the liquidators as risky counterparties and makes the lenders take that role and get paid for it. Liquidators can still show up, but a timing trigger of no-liquidations-for-30 minutes would start the in-kind liquidations.

Other solutions
Ajna, peer-to-peer loans, Morpho Blue and Euler v2, Liquity, isolated markets. They all have tradeoffs or suffer from the same problem of illiquidity of long tail assets. This proposal is an opinionated combination of all of them essentially, picking a set of tradeoffs that I like.

Feedback
Would you lend in a two-token pool like this? Why, why not, what would you change

[elliot @0xelken]

@sobradob @cobie @mayazi Also tempted to try Chase UK - they have a bad rep in the US but I've heard good things about their UK offering

[elliot @0xelken]

@sobradob @cobie @mayazi What makes you say this? They're not a bank but I enjoy their metal card for the insurance, car rental excess protection, FX, cashback and I think the app is good too.

Had bad experiences with Starling - app is poor, they took 3 days to respond to a fraud claim + anti-crypto