woodcollector.eth (🦍^🎩)

Trading with leverage using @leveragesir on HyperLiquid and Ethereum

[woodcollector.eth (🦍^🎩) @W00DCOLLECTOR]

Bloot #1 has landed in my vault 🔥

Not only is it the first ever Bloot, it also has the popular “Cock Ring” trait. 🐓💍

imo one of the most significant NFTs from the 2021 era

Thank you to all that made it possible & especially the @foundersdao for donating it to me! 💚💚💚

[woodcollector.eth (🦍^🎩) @W00DCOLLECTOR]

POV: you think of a genius business idea only to find out it already exists

cc: @leveragesir

[vitalik.eth @VitalikButerin]

Building index-tracking assets on top of options instead of debt

https://t.co/gFNEvCbHct

What if the use options as the base of defi, instead of CDPs and liquidations? So instead of extreme price movements creating a sharp and global "you get liquidated" effect, instead your exposure to the index diverges quadratically from your preferred exposure in a smoother way?

A key benefit is getting rid of the need for instant oracles, and instead making everything work on top of "slow oracles" (ie. the type that prediction markets use)

This design has a significant downside - the need to do regular rebalancing - and an open question of whether and how this rebalancing can be made slippage-resistant enough. But it's worth considering and trying IMO. I would feel much safer holding algostables inside something like this, than in something that depends on an oracle that has to give real-time answers (and therefore could be tricked into giving wrong real-time answers with no time for human recourse).

[Sir Trading 🎩 @leveragesir]

Extremely satisfying to see Vitalik pitch what is essentially Sir Trading. Let us address Vitalik's proposal and compare it to us.

What if the use options as the base of defi, instead of CDPs and liquidations?
On Sir, traders pay a one-time fee, just like in options. There are no liquidations.

Instead your exposure to the index diverges quadratically from your preferred exposure in a smoother way.
This is exactly how our leveraged tokens work. Notice from the chart below that our ETH² does not decay over time (still went down because price of ETH went down oc). If you check 2 time instant with the same ETH price, you will notice that ETH² also preserves the price.

A key benefit is getting rid of the need for instant oracles, and instead making everything work on top of "slow oracles"
Precisely, we use 30-min TWAPs.

This design has a significant downside - the need to do regular rebalancing - and an open question of whether and how this rebalancing can be made slippage-resistant enough. But it's worth considering and trying IMO.
We have actually fixed this part. We fixed by adding more flexibility in the contract between traders and LPers. Instead of performing actual leverage rebalancing, we derived the formula if the leverage was maintained perfectly constant, and just recalculate amounts when someone enters or exits a position.

[woodcollector.eth (🦍^🎩) @W00DCOLLECTOR]

@VitalikButerin Maybe have a look at @leveragesir . They propose a similar solution which is already live on multiple chains

[woodcollector.eth (🦍^🎩) @W00DCOLLECTOR]

Yall been sleeping on @leveragesir
But it’s not too late to wake up

[MegaETH @megaeth]

"Leverage you can sleep on." | @leveragesir

The first primitive built for long-term leverage.

Open a leveraged long with a one-time fee. No liquidations. No funding. Just convex upside. LPs earn fees plus MegaSIR, the native token of Sir Trading, which pays ETH dividends.

[woodcollector.eth (🦍^🎩) @W00DCOLLECTOR]

@postpunkprod I spot a beanzie

[woodcollector.eth (🦍^🎩) @W00DCOLLECTOR]

@leveragesir @playhuntertales

[woodcollector.eth (🦍^🎩) @W00DCOLLECTOR]

@anonchain Can’t wait to get another bag of worthless tokens

[woodcollector.eth (🦍^🎩) @W00DCOLLECTOR]

I feel like I don’t even see any crypto related tweets in my feed anymore

[woodcollector.eth (🦍^🎩) @W00DCOLLECTOR]

Pencil Phase
Dub
https://t.co/6wpmocSJai

[woodcollector.eth (🦍^🎩) @W00DCOLLECTOR]

Listed my Grail Buterin Card for 1 ETH

It is not something I wanted to do but I am in SERIOUS need of cash...

Use the opportunity of cheap ETH price to grab this Etherum grail:
-Pencil Phase✏️
-Rainbow Quote🦄
-Double Symbol⭐️
And help me in the process

https://t.co/2Mlegtdayi

[woodcollector.eth (🦍^🎩) @W00DCOLLECTOR]

Pencil Phase
1x Symbol
E-God
https://t.co/x4XV4qMQGG

[woodcollector.eth (🦍^🎩) @W00DCOLLECTOR]

@Xatarrer Are you?

[woodcollector.eth (🦍^🎩) @W00DCOLLECTOR]

@leveragesir Weeeeeeee!

[woodcollector.eth (🦍^🎩) @W00DCOLLECTOR]

FYI if you locked Buterin Cards for the @leveragesir sale, you can now withdraw them back to your wallet.

I got mine back today.

Here is a link to the contract on etherscan:
https://t.co/lJZc12bAja

It's the "witdrawNfts" function if the name wasn't obvious enough

[woodcollector.eth (🦍^🎩) @W00DCOLLECTOR]

@leveragesir

[Sir Trading 🎩 @leveragesir]

Some of the awesome features of SIR

[Sir Trading 🎩 @leveragesir]

Ahead of the MegaETH launch, please check your allocations.

$MegaSIR will be issued at a constant rate of 2015M tokens per year. For the first 3 years
- 70% allocated to LPs
- 8% to the treasury
- 8% to contributors
- 12% to SIR holders (Ethereum)
- 2% to HyperSIR holders (HyperEVM)

https://t.co/Vs9PRZ4rkV

[Sir Trading 🎩 @leveragesir]

https://t.co/doneRXWYOk

[Xata (🦍^🎩) @Xatarrer]

Check my article.