Cat

Lazy DeFi Farmoor | Trading futures & options | 80% $USDC / 20% $ETH

[Cat @SKDeFi]

https://t.co/dPLAdBI6aE

[Cat @SKDeFi]

@ettty_19 Appreciate you, fam

[Cat @SKDeFi]

I withdrew everything from Piggybank and reallocated it to Loopscale Earn. 15% APY currently, and, more importantly, transparency in how your funds are allocated.

[Loopscale @Loopscale]

Loopscale Earn is live.

Curated Vaults that package fixed yield, lending, looping, and multi-venue execution into a single position, with no active management.

The simplest way to access the most competitive yields on @solana.

[Cat @SKDeFi]

@Usoppu isn't this a ui bug?

10k with 5% apy prints $500 in a year, resolv's hack = 2-3% drawdown, you still should have 200 bucks pnl

[Cat @SKDeFi]

A big part of my Solana exposure is through Piggybank.

It’s f*cking ridiculous how the team executed that hedge and acted with users’ money.

[DerParsel @derparsel]

This feels wrong on so many levels.

@piggybank_fi used a 'Long Spot / Short Perp' strategy, but not the way you should and how they explain in their own documentation.

The result: Heavy losses (with the exact outcome yet to be known).

This is my breakdown of the situation 👇

▶️ WHAT HAPPENED?

Piggybank invested $100,000 (approximately 2% of its portfolio at the time) in a mid-cap basis trade. However, instead of buying the underlying asset on the liquid market, it acquired locked $LAB tokens at a discount through an OTC (over-the-counter) desk. A perpetual short position was opened as a hedge.

The problem: The $LAB token experienced severe price manipulation, low liquidity, and deeply negative funding rates. This made maintaining the short position (hedge) too expensive and "economically irrational."

Piggybank had to close the short position to limit the risk of further losses. However, since the purchased $LAB tokens are locked until August 14, the spot position could not be sold at the same time. Piggybank was thus left holding an unhedged, illiquid position.

▶️ COULD USERS EXPECT SUCH A TRADE?

The documentation describes classic, market-neutral basic trades. In a standard "Long Spot / Short Perp" trade, both trading positions (spot and perp) must be liquid. Only then can the protocol liquidate the hedge and the spot position simultaneously and with minimal loss under extreme market conditions, such as strongly negative funding rates.

Although the documentation explicitly names "mid-cap tokens" as the underlying asset, it mentions neither OTC transactions nor the purchase of locked tokens. By acquiring illiquid tokens, the underlying trade lost its most fundamental characteristic: the ability to liquidate risk immediately and symmetrically. This OTC approach transformed what was essentially a market-neutral yield strategy into an asymmetric liquidity risk, which was neither covered nor communicated in the documentations.

[Cat @SKDeFi]

@ettty_19 I hope not lower than $800 as it was last cycle lol

[Cat @SKDeFi]

I still think this is a valid point, and $ETH is heading toward $1500. If there's no bounce at that level, then even lower.

Happy bear market!

[Cat @SKDeFi]

@OG_Branxi @HyperliquidX @tradexyz @risextrade @OndoPerps @bulktrade @ProprXYZ Satori literally has been dead since 2025, fam. Wasted a lot of time on it, unfortunately

[Cat @SKDeFi]

@Jef_web3X That one is hard to achieve, gl with that 😺

[Cat @SKDeFi]

@CoinMarketCap Timing the market in both cases is far from reasonable, but we got that as a headline. Current state of crypto 🫡

[Cat @SKDeFi]

it'd be nice to onboard some market makers to provide liquidity for retail to use that, because as of now, it looks more like a one-sided market with no liq and unclear demand.

hope you work on onboarding lending/looping secondary markets like loopscale

anyway, good work, thanks for shipping

[Cat @SKDeFi]

@solana I promise to stop posting about any other projects outside the Solana ecosystem for 2 months.

Deal?

[Cat @SKDeFi]

@piggybank_fi @jup_offerbook Looping is coming 🫡

[Cat @SKDeFi]

@ettty_19 @prjx_hl it's intern's favorite onlyfans vids in that folder, bro

[Cat @SKDeFi]

@sereb_sun @PSG_inside @Arsenal @opinionlabsxyz 1-1 (5-3), Arsenal wins by penalties😅

[Cat @SKDeFi]

@sereb_sun @PSG_inside @Arsenal @Polymarket fock PSG, bro 😅

for all the best that is left in football, Arsenal has to win that match

[Cat @SKDeFi]

@LucBerkefeld I see it all the time on the timeline since the Infofi era - ppl here believe they must be paid based on the effort they put, not the results their efforts bring.

[Cat @SKDeFi]

@ettty_19 I applied, but just out of curiosity. I think you should try, your account and expertise are pretty good

[Cat @SKDeFi]

Wallchain launches new type campaigns, and they look dope:
- your followers matter, so if you write about prediction markets or perp DEXs and have some followers interested in those niches, your chances of being selected are higher
- no more slop posting, the conditions are clear from the beginning - you see the number of posts, the price, it's in stablecoins, and it's already escrowed in @wallchain
- campaigns are short

Good opportunity for small and mid-sized creators with niche audiences IMO. Curious to see how it evolves.

[Wallchain Quacks @wallchain]

Introducing Wallchain Select:

AI-automated Targeted Creator Campaigns

Niche and lookalike audiences deliver 6X better results than average manual selection.

What does this mean for creators?

- Fixed payouts and clear campaign terms
- Get paid more for your niche audience
- Get matched with projects your followers actually care about
- A small creator can be preferred over a big account thanks to a higher concentration of niche followers

What does this mean for brands?

- High-ROI user acquisition
- Find creators whose audiences actually match your ICP
- Stop wasting money on audiences who aren't interested in your product
- Stop wasting money on the same audience that overlaps across many creators
- Run targeted creator campaigns just like targeted ads

First 3 campaigns are already live.

More details below👇

[Cat @SKDeFi]

@ripchillpill this exact wording is actually being used by 99% projects out there lmao

waiting for the link anyway 😅

[Cat @SKDeFi]

@ettty_19 was pretty good play on Solana at some point, later I wanted to switch to Loopscale and OnRe, but waited all the time to farm a bit more before it finishes. they postponed it three times, promised no vesting and so on.

lesson here.

[Cat @SKDeFi]

solana:SLXdx4BUt2v9uJQNzWqSfzTJ9UKLUDsvxHFMEEdrfgq airdrop happened.

It's worth ~ $2,000, but only 18.5% is unvested for me. The first claim doesn't even cover the losses for holding YT.

And to claim the rest, I need to maintain liquidity in the protocol. This is the wildest part tbh. I'm not against the vesting itself, but vesting with conditions tied to maintaining TVL is kinda a trick I haven't seen before. Great way to fight the mercenary capital (no).

[Cat @SKDeFi]

44M flares in S1.
$400 burnt in YT.
$6K LPing on Exponent since October.

The airdrop is worth ~$550 in SLX at 100M FDV, in addition to yield.

Not the worst one for sure.