Lince started because of a random conversation while I was buying my engagement ring.
A random conversation that made me discover an existing problem to solve for an specific user persona.
12 months later, after validating that we are able to build, deliver and manage capital with our smart risk engine it’s time to go a step further and pursue the reason that convinced us.
This is our pitch for @colosseum frontier.
If you have experience in fintech or you are interested in bringing EUR yields to any european saver, then we definitely should talk.
This bear feels pretty different to 2022-2023
I don’t find hungry pals grinding on new ideas for the ecosystem but just people recycling on the same 5 concepts that work
I expect next cycles to be really different to what we are used to
What do you think?
Everyone is complaining about @piggybank_fi
But to be honest, you can’t expect 20%+ APY without taking risk.
They couldn’t have keep that level of returns with average delta-neutral strategies.
Look for the source of yields before investing and don’t complaint when risk is taken.
(I don’t think the usage of funds was ideal tho)
🚨Quick TL;DR on how stupid the @piggybank_fi situation is:
• bought $100k of locked $LAB tokens at a discount and shorted to hedge
• $LAB got manipulated, funding rates went deeply negative, hedge became too expensive to hold
• they closed the short, leaving the position unhedged
• $LAB locked position is now worth $1.35M on paper but unsellable until August 14
• result: 15% drawdown on USDC vault, 12% on SPYx, 9% on JitoSOL
🤷♂️