Bin Yang

CIO at Attune Investment
Ex-founder and now investor in early stage companies in biotech/med devices/fintech/cpg

[Bin Yang @b3yang]

I just donated to @https://twitter.com/UNICEFUSA on @give_pact. Join me in supporting this amazing organization.

[Bin Yang @b3yang]

@VitalikButerin well done Ethereum team

[Bin Yang @b3yang]

it's happening

[Bankless @Bankless]

BREAKING:

The Ethereum Merge has been scheduled for TTD 58750000000000000000000

This is approximately Sept 15-16th

The Merge is officially scheduled 📆

[Bin Yang @b3yang]

@web3_lord we use this feature ALOT especially when invoking smart contract functions from code.

[Bin Yang @b3yang]

@web3_lord Etherscan is completely under utilized

[Bin Yang @b3yang]

@TheBlueMatt Well said Matt!! That's how bitcoiners can innovate forward as well

[Bin Yang @b3yang]

@efipm @DanielleAlberti @felixsalmon @axios @rickhuckstep @BrettKing @SimonCocking @FGraillot @SpirosMargaris @thomaspower @rshevlin @Visible_Banking @DrJDrooghaag @leimer i think the risk of margin call on the #TSLA backed $6.25B margin loan should be included in this chart as well, especially if sell-offs in tech continues

[Bin Yang @b3yang]

COGS + SG&A outpacing revenue at big box retailers prob means even higher prices in the future --> force more consumers to shift to lower cost categories --> even higher unwanted inventory level, not a good cycle

[Bin Yang @b3yang]

8. We would like to help #lunaterra to build a safer stablecoins/ecosystem and looking forward to what future holds. @stablekwon @terra_money

[Bin Yang @b3yang]

5. Anchor liquidation + liquidity dry up everywhere is apparent once de-peg is past the point of no-return. 20% yield don't mean a thing if there's a CHANCE of stablecoins going to 0

[Bin Yang @b3yang]

7. A match is nothing without a fuse and a fuse is nothing without a bomb, similar to the past episodes in FX markets, many focus on "attackers", even if these attackers existed, they are merely a match/fuse.

[Bin Yang @b3yang]

4. however, the whole arbitrage operation takes at least 3-4 confirmations and 30+secs to execute (+capacity), and if arbitragers believe LUNA price will decline significantly in the meantime (anchor liquidation), it makes way more sense/efficient to short LUNA instead.

[Bin Yang @b3yang]

even though we warned against the UST depeg risk back in March, https://t.co/L7ac0i0vOP
still saddened to see many ppl affected, and here is my takeaways

[Bin Yang @b3yang]

3. for example, when UST de-peg, arbitragers *should* buy UST off-chain, convert to LUNA to receive (1- swap fee) on-chain, then sell LUNA to pocket the pricing difference

[Bin Yang @b3yang]

2. the terra/UST design underestimated the market forces (especially from sentiment)/inherent leverage within the system, relying on arbitragers' profit incentive for stabilizing UST, which can turn very quickly

[Bin Yang @b3yang]

1. luna/UST + anchor was (and still is) an innovative project in our book, it combines several defi components including algorithmic stablecoin / dex / lending /yield farming though its complexity/interdependencies contributed to its demise