@dgt10011 I don't think you guys understand how this stuff works.
This is about sloshing.
Slosh velocity.
When you see Michael Taylor buying ETH using some BTC affiliated slosh mechanic, you will understand what I mean.
Blockchain enables maximum slosh.
Viscosity.
1/ a perp-first real world asset listing strategy will front-run tokenization with a better primitive and make tokenization on most assets effectively obsolete
a thread:
The development of technologies do not follow singular linear curves
Technological breakthroughs result in inflection points
that significantly change the trend
That point was 3 years ago for Humanoid Robots
Well, it was quite a day in crypto.
ETH tanked more than 20%, with $2bn+ in liquidations (heck, some say it's closer to $10bn) setting the new industry record.
While it was not the first test for Resolv (play on words intended), it was definitely the most illustrative.
So how did we fare?
I'd say, as we should - pretty fine. We are running a delta-neutral strategy after all.
Thus it was fun to see some hype re Resolv address making $30mn on short ETH perps on Hyperliquid, people praising our trading prowess (or calling us insane for not taking profits).
Nothing to brag about here - these were just the hedges for our long ETH positions, and we are always hedged on a 1:1 basis (there is no 50x leverage on a fundamental level).
https://t.co/r6EG6xgVHM
Still, when the markets face such a sell-off, funding rates on perpetual futures go down A LOT.
Thus returns of delta-neutral strategies printed red today across the market.
USR APY is floored at 0%, so RLP absorbed the loss, with it's price going back to the levels of last week.
Nothing to write home about, but a good highlight of the overall protocol robustness, I'd say. That's how things should work in stress scenarios.