Ethos Reserve

Building Ethos Reserve - the most sustainable decentralized stablecoin protocol. Enjoy the best Real Yield in the business with $ERN.

[Ethos Reserve @EthosReserve]

Ethos Reserve is redefining decentralized stablecoins with $ERN, delivering real yield in a secure and auditable fashion.

Start earning with $ERN at https://t.co/fd99jgeq3X 💪

[Shiva @ShivanshuMadan]

God damnit guys

[Cod3x | Win More Trades @Cod3xOrg]

You are losing money! Every minute your funds sit in your wallet is another dollar or dozen lost in opportunity.

What are these opportunities? Where are they? How do you take advantage?

With Cod3x’s Agentic Interface, all you have to do is ask.

Source lending, yield and even airdrop opportunities by asking Cod3x’s agent simple, natural language questions. It’s like having your own crypto concierge in your pocket.

If you don’t know where to begin, the Cod3x agent will ask you clarifying questions to help identify your needs and the best way to service them.

The agent will then offer you a few simple options to put your assets to work. Curious about how these options work? Our agent will be happy to explain.

Our proprietary agentic interface reads data directly from the blockchain and translates it into information that useful and easy to understand.

Chat with our agent yourself later this year when we release a Beta version of Cod3x.

To make your experience with crypto easier and more rewarding, be sure to follow our account for updates.

[Ethos Reserve @EthosReserve]

Dencun upgrade is here! What’s Dencun you ask? It’s not a pokemon!

A dynamic network, Optimism has undergone some major upgrades, which have not only made it faster and more efficient to use, but have also lowered the gas fees significantly!

So how does zero-interest lending sound?

Simply deposit collateral and borrow $ERN with just a small issuance fee. No interest, no hassle. Stop sitting on the sidelines and leverage your assets for those high IQ plays today! 🧠

Head to https://t.co/a1ZVkUWOMw to get started

[Ethos Reserve @EthosReserve]

ICYMI: Check out the new blog from our founder about the highs and lows we've persevered through and what's ahead for @Cod3xorg!

Have you joined our new Discord? Stay tuned for updates and the next iteration of Club Cod3x!
https://t.co/utzQeGZ5Eg

[Cod3x | Win More Trades @Cod3xOrg]

Our team has experienced the same highs and lows as the rest of the DeFi market over the last few years.

We've listened to users, observed the market and built Cod3x with these lessons in mind.

To learn how we got here, read this blog from our founder:

https://t.co/GMTsKbROrS

[Ethos Reserve @EthosReserve]

We'll be starting shortly!

Come join Club Cod3x going down tonight in our new Discord 👇

🔗 https://t.co/bcW3ska6eH

[Cod3x | Win More Trades @Cod3xOrg]

Join us at 11pm UTC in the Cod3x for an exclusive Discord event.

We will be chatting about Consensus and a few other topics relevant to Cod3x's launch.

https://t.co/yYUDjX3sRE

[Optimism @Optimism]

Creating and building this Onchain Summer?

Head to /onchainsummer on @farcaster_xyz and post what you're building (include #superchain in your intro) and enter weekly rounds of 5000 OP shared among winning entries.

[Ethos Reserve @EthosReserve]

@Optimism @farcaster_xyz This is gonna be a fun summer! 🙌🌞

[Ethos Reserve @EthosReserve]

@JayJayseter 🕺

[Ethos Reserve @EthosReserve]

Believer in $OP ? Then you should be using $ERN

Stay tuned for a smoother, faster, and more efficient platform.

Excited? So are we! Stay tuned in to the new Discord to catch our weekly Happy Hour Chats with developers and get updates on all we have going on with Ethos Reserve.

Join our new Cod3x Discord!: https://t.co/RCppJ84kpL

[Ethos Reserve @EthosReserve]

You've been cordially invited to Club Cod3x!

RSVP using the link below 👇

[Cod3x | Win More Trades @Cod3xOrg]

Join us at 11pm UTC in the Cod3x for an exclusive Discord event.

We will be chatting about Consensus and a few other topics relevant to Cod3x's launch.

https://t.co/yYUDjX3sRE

[captain.base.eth @BaseCaptainHB]

🚀 Witness the hottest pairs on #Optimism past day! ✨🔴

🥇 $VELO @VelodromeFi
🥈 $TUX @magicaltux_op
🥉 $ERN @EthosReserve

$WLD @worldcoin
$NBL @NBLGAME
$TLX @TLX_FI
$STG @StargateFinance
$SNX @synthetix

Comment below with your #Optimism trading pairs! 👇

#Layer2 #Optimism $OP

[bebis @0xBebis_]

I spent the week in Austin at #consensus2024 meeting with founders, attending events, and listening to industry leaders discuss the future of blockchain.

I left with a handful of key insights, high convictions on the direction of the industry, and about 5 pounds heavier 😅

Let’s dig in:

1. AI is inescapable. We all might be a little tired of being bombarded with ‘AI this’ and ‘AI that’ but it’s not going anywhere. The key here is defensibility. How will your business model hold up in a world where AI is going to improve exponentially? Does the acceleration of AI improve your competitiveness?

2. Big money is getting interested in BTC, ETH, and Tokenization. I would say the former 2 moreso than the latter for now, but the writing is on the wall. Institutions move at a snail’s pace but Chainlink and Securitize are leading the pack infrastructure-wise. The best sales team will win the RWA game, not the best engineering team.

3. VCs are still excited about web3 gaming. We’ve seen gamified systems like Pump Fun, Friend Tech, and Fantasy Top show that they can pull in massive amounts of revenue even with sub-par user experiences and relatively low DAUs - harnessing these economic drivers in more scalable packages like mobile games could prove hugely profitable.

4. Infrastructure is a losing game right now, with OSS being better positioned for adoption than highly monetized alternatives. It can still be a pretty safe play at VC scale but the tides are finally shifting more toward the application layer. As performance and competitiveness of the infra space goes up, value will accrue more and more to applications.

5. There is still a lot of gas in the tank. VCs were desperate to allocate early in the year but most have regained their discipline. Competition is fierce and there are some really great businesses being born right now - the industry is showing some serious signs of maturity. I expect to see a lot of new funds being raised in the near future.

Our team also debuted @Cod3xOrg during Pitchfest, and chatted with a lot of founders and investors about it. Here's some of the high level insight:

1. We left especially bullish on Cod3x because every improvement to AI infrastructure significantly improves our service. We believe that there is no moat in training AI models or building new LLMs due to the strength of the OSS community, and Cod3x is going to be the absolute best place to access the LLM x DeFi intersection at the application level.

2. Our work on vertical integration positions us with a really compelling business-case by significantly reducing our cost per user. Because Cod3x doesn’t rely heavily on TVL or Volume as key performance indicators, we can optimize to bring net-new users into the DeFi universe.

3. A lot of investors are still hesitant to touch DeFi. Whether it be the liability associated with hacks or exploits or the regulatory risk, direct exposure is difficult for a lot of funds to justify. Cod3x can give these people a vehicle for arms-length exposure & operate without expensive liquidity provision agreements or direct exposure to the protocol layer.

Overall, I think Consensus was a huge success for the organizers and teams attending. You could tell there were a lot of people brand new to crypto there and the sleek look, tight organization, and diverse roster of speakers left everyone more bullish than they arrived.

Cheers to a great event!

[Ethos Reserve @EthosReserve]

Another beautiful start to the week! We’re still hard at work bringing you the latest and greatest innovations in DeFi on Optimism!

There’s a lot to be excited about in these next coming weeks!

What are you most excited about for in our ecosystem?

Tell us in our new Cod3x Discord!

🔗 https://t.co/RCppJ83MAd

[Ethos Reserve @EthosReserve]

So happy to share this news with you all!

Stay tuned for more details and announcements soon.

[Cod3x | Win More Trades @Cod3xOrg]

Crypto is overwhelming.

High yields are appealing but you’ll need two wallets, three bridges and 15 transactions to secure them. Assuming you can even source those yields.

It can be as as stressful and time intensive as a full-time job.

At least, it used to be.

Introducing Cod3x.

The solution to all the friction points for user-blockchain interaction.

Cod3x employs a novel Agentic Interface capable of servicing all mass market user’s needs. You need only communicate intent and our network of lightweight AI agents will surface strategies, build transactions and manage queries on your behalf. All in a single swipe.

This is all in service of true financial freedom. The freedom to decide on an outcome and instantly receive all the knowledge and tooling necessary to make it happen. The freedom to step away from your PC and enjoy you life and family without thinking about finances.

Over the coming months, we will be onboarding strategic partners and firms that are committed to offering our vision of financial freedom to everyone.

Expect more details and announcements as we release features leading up to our full launch later this year. Follow us on X to be an early tester for our Agentic Interface and data visualization tools.

Get involved in the conversation by joining us on Discord: https://t.co/8Ky8a0VdQB

See you there.

[Cod3x | Win More Trades @Cod3xOrg]

Crypto is overwhelming.

High yields are appealing but you’ll need two wallets, three bridges and 15 transactions to secure them. Assuming you can even source those yields.

It can be as as stressful and time intensive as a full-time job.

At least, it used to be.

Introducing Cod3x.

The solution to all the friction points for user-blockchain interaction.

Cod3x employs a novel Agentic Interface capable of servicing all mass market user’s needs. You need only communicate intent and our network of lightweight AI agents will surface strategies, build transactions and manage queries on your behalf. All in a single swipe.

This is all in service of true financial freedom. The freedom to decide on an outcome and instantly receive all the knowledge and tooling necessary to make it happen. The freedom to step away from your PC and enjoy you life and family without thinking about finances.

Over the coming months, we will be onboarding strategic partners and firms that are committed to offering our vision of financial freedom to everyone.

Expect more details and announcements as we release features leading up to our full launch later this year. Follow us on X to be an early tester for our Agentic Interface and data visualization tools.

Get involved in the conversation by joining us on Discord: https://t.co/8Ky8a0VdQB

See you there.

[Granary Finance @GranaryFinance]

Sonne Exploit and Impacts on OATH Products

Last night, our team was notified of an ongoing inflation attack against https://t.co/LMItDBGVJA after they added the VELO token to their markets.

We immediately began emergency response procedures, performing withdrawals of as much collateral as possible from the Sonne platform.

Ethos Reserve

Firstly, Ethos Reserve was largely unaffected. A small number of tokens were exposed to Yearn on the v2.1 platform and were successfully withdrawn.

On the deprecated Ethos V1 platform, less than half of the BTC vault was allocated to Sonne, amounting to a just over 1 $BTC in exposure.

$ERN remains fully collateralized and its reserves healthy.

We continue to monitor Sonne’s BTC reserves as users repay their loans.

Reaper

Reaper’s Sonne strategies and multi-strategies experienced significant but not complete losses.

Current Sonne exposure:

~$367k in WBTC
~$207k in WETH
~$204k in USDT
~$174k in USDC.e
~$49k in wstETH
~$66k in sUSD

We will continue to attempt withdrawals. This exposure may be reduced over time as users repay debts.

Current tally of recovered funds:

~$135k in OP
~$55.5k in USDC
~$35k in SNX
~$110.6k in DAI
~$110k in WETH

During our emergency response operations we were able to rescue close to $500k in assets. We will continue to work on recovery efforts and will provide updates as they arrive.

Chapters

No OATH Chapters or Granary Silos were impacted by the Sonne exploit. All rehypothecated assets on Chapters/Silos are done so locally to integrated lending markets and have no exposure to Sonne or any other externally-managed protocols.

Next Steps

We are working with the Sonne team, law enforcement, forensics resources, and @_SEAL_Org in an effort to recover as many funds as possible. Due to the sensitive nature of an active operation we can not share additional information until the investigation is complete.

External white-hat operations were also able to rescue a significant amount of funds. We are not including these in this brief as we await final numbers.

Conclusion

This incident has validated a number of our recent decisions regarding dependency-minimization, asset allocation and rehypothecation.

We have decided to accelerate the integration of native lending markets into our products so we can eliminate the need for external yield dependencies.

We will continue to monitor Sonne markets for opportunities to recover more funds.

We thank the @_SEAL_Org and @chainalysis teams for their rapid response and support in recovering funds.

We will publish a more detailed breakdown of numbers once this investigation concludes.

Thank you.

[Beets @beets_fi]

✅ Yield bearing stablecoin
✅ Yield Bearing $ETH

A true masterpiece 🎶

[Ethos Reserve @EthosReserve]

Big time yield opportunities on Optimism via Reaper Farm check it out 👇

[Ethos Reserve @EthosReserve]

Time for a reintroduction..

The name is Ethos Reserve—a decentralized lending protocol on the Optimism network.

With Ethos Reserve you can leverage your Bitcoin (BTC), Ethereum (ETH) or wrapped staked ETH (wstETH) for interest-free loans. Loans paid in Ethos Reserve Notes (ERN), a stablecoin pegged to the US dollar.

That’s right interest free, so what’s the catch?

When you take out a zero interest loan on Ethos Reserve you’ll be charged a 0.5% fee which up front. Additionally, you’ll need to maintain a minimum amount in collateral to cover the debt. These collateral ratios can be as low as 110% for wBTC, 108% for wETH, and 110% for wsETH.

The collateral backing ERN is used to generate passive yield, which is rewarded to users who deposit in the Stability pool. These depositors secure the protocol against unhealthy collateral by funding the liquidation of unhealthy positions within the system with their deposited ERN.

So why does Ethos Reserve exist?

Ethos Reserve was designed to create a decentralized source of yield that is self sustaining and highly stable.

So what can you do with Ethos?

Borrow at 0% Interest!

Take capital efficient loans

Deposit ERN into the stability pool to receive rewards

Redeem ERN for underlying assets if it falls below peg

And more is on the way!

How do you use Ethos Reserve? How can we make Ethos better? Let us know down below or on our Discord!

[Ethos Reserve @EthosReserve]

What is happening with Ethos Reserve?

We aren’t going anywhere! We’ve been hard at work on developing V3 of Ethos Reserve for the @Optimism network! We are preparing for the merge but work still continues..

What do you want to see in our next version of our protocol?

Let us know! 👇

Discord: https://t.co/yK5O4EP3Mk