Sharp

Chief Strategy Officer @alphagrowth1 | Previously Head of Growth @ Compound with @750M in TVL raise | Incentive Dist. lead @ Uniswap DAO

[Sharp @ShardulPilley]

@CyberGreen09 Yeah, would be much better if those families got rowdy drunk in shibuya, just tourists doing tourist stuff in a tourist place is so disgusting

[Sharp @ShardulPilley]

@MarioNawfal Most likely a stunt, dude prolly got paid good amount to act like that and become punching bag in the end

[Sharp @ShardulPilley]

@Ravenismeee

[Sharp @ShardulPilley]

@mewwts Stopped in 2023, life has been much better.
Apart from health benefits, most unintended consequence was that it also changed my social circle

[Sharp @ShardulPilley]

@fairiehaze Chicken puff

[Sharp @ShardulPilley]

@DearS_o_n

[Sharp @ShardulPilley]

@anglio Not only right now ‘right now’

[Sharp @ShardulPilley]

@duonine @StaniKulechov What defines a toxic collateral? It looks like no brainer now, but before their fall both rsETH and UST looked like good assets and no one bat an eye on their integrations.

Only after the hacks people became experts in good and bad collateral

[Sharp @ShardulPilley]

@Wisdom_HQ If you tip a server in Balkans the normal 10-20%, the server will remember you and your entire bloodline for the next time you come to the restaurant.

[Sharp @ShardulPilley]

Defi unpredictability humbles even the most Feral operators in DeFi

[Sharp @ShardulPilley]

What it feels like to be in DeFi and avoid hacks

[Uttam @uttam_singhk]

IDK where we go from here.

confidence in DeFi is at an all-time low right now

scary af

[Sharp @ShardulPilley]

@hexonaut Always great to see how the whole sky ecosystem steers clear despite being omnipresent in DeFi.
Hopefully other protocols also come out with minimal damage

[Sharp @ShardulPilley]

>whole Web3 Rekt since October
>Airdrops flopping
>VC funding gone
> hedge funds down with losses
>Vaults bleeding
> Stablecoin collapses and depegs
> industry wide Layoffs
> no guarantee of future for salaried professionals in the space
> only old DeFi summer whales playing safe in blue chip lending somehow above water
>3% APY but safe
> LayerZero exploit on Kelp leaves bad debt on Aave, Compound

[Ignas @DefiIgnas]

Kelp rsETH exploit is terrible due to extensive DeFi integrations.

Not sure how big the exposure is yet but:

- Aave V3: Markets already frozen
- SparkLend: Also froze the rsETH market
- Lido Earn via Mellow strategy meta-vault. I think it was a leveraged market
- Fluid: Frozen market
- Compound
- Euler
- Upshift: Paused High Growth ETH and Kelp Gain vaults
- Pendle PT YT tokens
- Some Beefy strategies. Yearn?

I suppose LayerZero is probably affected too, as rsETH were bridged from L2s, so I wonder if those rsETH on L2s aren't worthless right now.

The situation is still developing, so I don't want to FUD any protocol, but it seems there are not many places to hide in DeFi.

[Sharp @ShardulPilley]

@hexonaut Very variable, will fluctuate a lot, not worth the risk

[Sharp @ShardulPilley]

Keep moving

[Dear Son. @DearS_o_n]

Pitch me your best advice in 2 words

[Sharp @ShardulPilley]

@tari Came back to Tari after a long time, looking forward to the development of the TARI ecosystem🥹

[Sharp @ShardulPilley]

@StaniKulechov Aave is one of the few DeFi summer protocols that remained steady focussed in their direction without much distraction. And it is very well positioned to actually onboard moms and pops onto decentralized finance. Looking forward

[Sharp @ShardulPilley]

I like the focused approach, it is unfortunate having to part ways with talented folks.

Over a long enough time horizon, L2s have to adapt to either VC or Hedge fund model to compete, to stay profitable and relevant in the long term. First mentioned to me by @bryancolligan

The alternative is foundation teams quitting and making it a community chain, as we've seen in other cases.

@EliBenSasson , you've made a hard decision, but it will benefit Starknet in the long run.

[Sharp @ShardulPilley]

@sjdedic What’s the likelihood of the next US president completely nuking crypto into oblivion just to distance the office of president from crypto

[ຸ @D9vidson]

a moving man will meet his luck �