❗️I’ve dropped an article breaking down a juicy strategy to farm airdrops across 3 projects at the same time (@xStocksFi & few more..) - seriously under the radar
If you want to get in early before Season 0 ends, it’s definitely worth a read!
Drift Exploit Update
- PiggyBank had a $106k exposure to Drift, out of the 3.95M USDC deployed in our delta-neutral trading strategy. This served as margin for a 750 SOL Long position on Drift, against a 750 SOL Short position on Lighter, reduced to 273 SOL before the exchange was paused.
- The worst case scenario drawdowns would have been: 2.67% on USDC vault, 1.60% on SPYx, 1.52% on pbJITOSOL. This is exactly the kind of counterparty risk priced in the high APY that such strategies provide.
- Nevertheless, the team is so confident in PiggyBank's vision — extra yield on xStocks — that it has unanimously decided to personally reinject $106k to cover for users' losses, even though Drift had passed our deployment risk analysis.
- Today’s NAV will be rolled as usual within 2 hours, with 0% APY for the epoch.
https://t.co/vFOQx2V7kz
❗️I’ve dropped an article breaking down a juicy strategy to farm airdrops across 3 projects at the same time (@xStocksFi & few more..) - seriously under the radar
If you want to get in early before Season 0 ends, it’s definitely worth a read!
😱Previous Monday @hibachi_xyz results (my 1st week)
- 228 Points
- $91.5k volume
- $401 of volume per 1 point
- $0.12 price per point
Good or no? Hibachio