Crypto Flash

Crypto Investor, Cyber Security Expert, Yield Farmer, content Creator

[Crypto Flash @Crypto_Flash_]

@CartesseCl65729 @AerodromeFi Thanks ! ! It's coming ;)

[Crypto Flash @Crypto_Flash_]

gm gm

[Crypto Flash @Crypto_Flash_]

@GainsAssociates So no KYC on AAVE mobile app to buy with FIAT :) ?

[Crypto Flash @Crypto_Flash_]

Aave labs just got MiCAR authorization from the Central Bank of Ireland.

Soon on Aave: Give KYC please.

(of course if you want to send FIAT).

[Crypto Flash @Crypto_Flash_]

Your entire net worth is in the hands of this man.

And he is definitely killing it !

[Crypto Flash @Crypto_Flash_]

Chasing yield is cool.
But chasing Security is more important.

From Vitalik's last talk.

[gaudenzio @gaudenzio_eth]

Privacy matters. Today during @web3privacy, maestro @VitalikButerin highlighted #Kohaku, a new Ethereum framework focused on bringing real privacy to wallets. All 8mins!

[Crypto Flash @Crypto_Flash_]

After shutting down the US Government, we decided to shut down the bull market .

[Crypto Flash @Crypto_Flash_]

@DefiIgnas maybe you could take a look at this?
@lordjorx ever took a look at this ?

[Crypto Flash @Crypto_Flash_]

So Chainlink the company earns a ton of money and redirects part of it to the reserve to buy LINK.

But there is no transparency on how much of the profits of the company are redirected to the reserve ...

Is it 1 % ? 10 % ? 90 % ?

No one knows ...

$LINK holders deserve more transparency on this, and also a commitment from Chainlink the company to buy back a fixed percentage of the profits or the revenue.

Otherwise this is not serious...

But hey, there is no DAO. So no community proposal.

Just a company behind all this, and a utility token.

Those who make the big bucks are the shareholders of the Chainlink Company.

[Chainlink @chainlink]

RESERVE UPDATE

Today, the Chainlink Reserve has accumulated 74,049.24 LINK.

The Chainlink Reserve now holds a total of 803,387.65 LINK.

https://t.co/gdR3fBYv8E

The Chainlink Reserve is designed to support the long-term growth and sustainability of the Chainlink Network by accumulating LINK using offchain revenue from large enterprises adopting Chainlink and onchain revenue from service usage.

[Crypto Flash @Crypto_Flash_]

There is actual demand for XRP ETF ... More than SOL ?

Surprised !

[Eric Balchunas @EricBalchunas]

$XRPC at $26m in volume in first 30min, wow, gonna blow away my $17m guess. Has good shot at beating $BSOL's $57m as biggest Day One of any launch this year.

[Crypto Flash @Crypto_Flash_]

Hot Take:

Yield Basis will Buy Curve Finance.

The crvUSD is too much of an essential component for YieldBasis.

Yield Basis will attract billions of TVL representing more than 99% of crvUSD marketcap.

It will be more profitable than Curve.

They will figure something out for the buyout...

[Crypto Flash @Crypto_Flash_]

Vitalik: We measure success not by transactions per second, but by trust reduced per transaction.

Justin Drake: Lean Ethereum, 10 million transactions per second. Bro!

The most visible faces of Ethereum seem at odds. This ETH's Yin and Yang

[Convex Finance @ConvexFinance]

Short explainer video about Convex Finance. Nice work @Crypto_Flash_

[Crypto Flash @Crypto_Flash_]

You are not ready for what is coming to Ethereum.
Lean Ethereum will change everything.
This Ethereum final form.
Incredibly bullish

[lean Ethereum @leanEthereum]

hello world

[Crypto Flash @Crypto_Flash_]

@lordjorx the migration post :)

[Crypto Flash @Crypto_Flash_]

Yield Basis Migration :

@yieldbasis launched more than month ago, and the system is working. Yield is being generated for BTC depositors.

There are two kinds of BTC depositors. Some stake their LP, and some do not. Stakers give up pool fees and receive YB token rewards. Depositors who do not stake earn the fees generated by the pool (after rebalancing cost)

The issue is the high volatility in the profit split between stakers and non-stakers. This volatility caused a loss for non-stakers and a big win for unstakers.

Yield Basis will compensate stakers using protocol profits.

A migration to a new pool that greatly reduces this volatility is coming very soon. The new pool contracts have been developed and audited and are pending deployment.

This step is necessary before lifting the deposit caps to $ 500 million. The fee switch is also planned soon.

There is a lot to be bullish.

There is also real risk. The system is new and very ambitious.

Overall, this is an asymmetric bet.

$YB

[Crypto Flash @Crypto_Flash_]

@lordjorx @yieldbasis Not yet. Will write something.
Migration should start soon.

[Crypto Flash @Crypto_Flash_]

Yield Basis seems underappreciated by the community.

Here are all the reasons I believe are preventing a widespread love of the @yieldbasis

1. When people hear 20% yield on BTC, most say it is a scam. It is not sustainable.

My take: Fair enough. But everything is transparent, the yield is coming from trading fees, and it seems to have been working for more than a month.

2. The protocol is too new; it might get hacked.

My take: They had a ton of audits from major auditing companies. But of course, this risk is still present.

3. There has been no growth in TVL for weeks.

My take: This is only because of the current caps that are going to be lifted soon.

4. People say if it was so simple to eliminate impermanent loss, why has no one done it before?

My take: The carry trade is also something simple that has just been tokenized with Ethena less than two years ago.

5. The project is heavily reliant on crvUSD and LlamaLend, but it is still a project of its own.

My take: This is an acceptable criticism. I believe that it could have been launched within Curve, but with less innovation in the tokenomics part.

6. Early adopters who deposited BTC but chose to forgo the fees and instead get YB are currently at a loss.

My take: This was clearly an issue, but it is going to be mitigated with the current migration planned, and users will be compensated.

7. The fee switch is not yet activated.

My take: This is also coming very soon, before the lifting of the caps.

8. People don’t believe that this will work, that the impermanent loss elimination is impossible, and that in some cases it will lead to huge losses.

My take: The backtesting that works is only an indication. The real test was this last month, and it showed that it worked. Of course, we need more time “testing in prod,” but all indications seem to be good for now.

There are also many reasons I believe Yield Basis will work, but this is for another time

[Crypto Flash @Crypto_Flash_]

@Zappingcrypto @whale_tamer @SylvainCrypt0 @cryptoFoufi @CSeddine @LeTroneFr @Cryptolyze_tek Top merci pour retour d'expérience