Nomad | The DeFi Architect

DeFi Product & UX Architect - Turning complex tokenomics into clear, institution-grade experiences people trust - $6m+ | Team BuildTheTech

[Nomad | The DeFi Architect @cryptonomadx]

@BrandonR2R

[Nomad | The DeFi Architect @cryptonomadx]

@BrandonR2R

[Nomad | The DeFi Architect @cryptonomadx]

@Lady_Mania528

[Nomad | The DeFi Architect @cryptonomadx]

@BrandonR2R

[Nomad | The DeFi Architect @cryptonomadx]

@BrandonR2R @SwitchDotWin

[Brandon - BuildTheTech.com @BrandonR2R]

https://t.co/2BQcKkxosK TVL at all time high.

24 hour volume at 6 figures.

Strong opinions on SwitchX in the community, but our only mission is to provide better tools for a chain who will see its best days ahead.

We do not disparage any other protocol that is contributing to the long term mission of PLS.

Onward and upward 💪

[Nomad | The DeFi Architect @cryptonomadx]

@0x_fokki Build

[Brandon - BuildTheTech.com @BrandonR2R]

Happy Birthday Pulsechain,

https://t.co/8wdkXeEU68 is now live

It will behoove you to read the white paper.

That is all.

[Nomad | The DeFi Architect @cryptonomadx]

@Dimitri_ore @magnific 🤣

[Brandon - BuildTheTech.com @BrandonR2R]

No matter how complex your idea is…we’ll build it.

https://t.co/u1IU47HNdt specializes in high-end custom development for both Web3 & Web2, and AI:

• AI Solutions 🤖
• dApps ⚙️
• Mobile Apps 📱
• Website Design 🖥️
• Smart Contract Audits 🔐
• Front-End Integration 🧩

And much more…

Let’s bring your vision to life.
DM us or visit https://t.co/u1IU47HNdt 🚀

[Chong-U @chongdashu]

GPT Images 2.0 🤝 Grok Imagine is a ridiculous unlock

In gamedev...
- having the idea is easy
- SEEING the idea is hard

But now, thanks to both, you can go from idea to visualised in minutes!

Here's 4 versions of a top down 2d multiplayer game idea 🕹️

Prompts in reply 👇

[Nomad | The DeFi Architect @cryptonomadx]

@ScammersOnSonic @AndreCronjeTech @flyingtulip_ @DunkingSquirrel

[OpenAI @OpenAI]

Introducing ChatGPT Images 2.0

A state-of-the-art image model that can take on complex visual tasks and produce precise, immediately usable visuals, with sharper editing, richer layouts, and thinking-level intelligence.

Video made with ChatGPT Images

[Dwayne @CtrlAltDwayne]

The vibecoders are starting to give up because they're learning AI can't do everything for you. They're tools that are powerful in the hands of people who can code, but vibecoders are not real devs.

[Duo Nine ⚡ YCC @duonine]

🚨 I don't think people realize how bad things are at @aave right now.

All core markets are at 100% utilization, that includes $3 bil in USDT and $2 bil in USDC stuck!

That means you CAN'T WITHDRAW your money!

A long post on why and how we ended up here.

When the rsETH exploit happened and AAVE incurred bad debt, whales like Justin Sun, MEXC exchange, and others immediately withdrew billions from AAVE.

This instantly drained all available liquidity in key core markets like ETH, USDT, USDC and so on. Those first to withdraw got out, laggers got trapped.

Initially, the ETH market hit 100% utilization, meaning you could not withdraw your ETH from AAVE.

Worse, this also means the protocol can't process ETH liquidations should ETH price fall/crash. If you can't sell any ETH, you can't liquidate to cover debt obligations.

That means the risk of more bad debt incurred by AAVE is increasing the longer its markets remain stuck.

Nevertheless, users can still sell at a minor loss the aETHwETH tokens on Uniswap or similar aggregators. That exit door is the last one remaining for ETH depositors on AAVE.

The same cannot be said by depositors of USDT and USDC. They are stuck.

That's because AAVE lost over $6 billion in liquidity in the past 24h. As whales took out their money, USDT and USDC also hit 100% utilization.

These markets are now also stuck with money locked. Panic is spreading and desperate times call for desperate measures.

Some users decided to borrow against USDT/USDC and exit via other markets at a 10-25% loss (90-75% LTV). Basically you borrow GHO/DAI/USDe against your locked USDT/C.

But as more liquidity leaves AAVE, more markets get to 100% utilization and get locked/stuck due to low liquidity. This is quickly cascading across all available markets.

Luckily the crypto market was rather flat today so liquidation risks were marginal, but if things change there are billions in stablecoins and other assets locked on AAVE that can't process liquidations = more bad debt for AAVE.

If users or related protocols that are stuck need access to their money to prevent liquidations or other critical function, they have a huge problem on their hands.

Plus, nobody wants to deposit (or provide liquidity) in these markets now since your ETH, BTC, USDC/T could be stuck there for who know how long.

As soon as any available liquidity is made available, it is instantly taken out by bots fighting to get out. As I wrote this I saw 250k in liquidity on USDC vanish in seconds.

Then there is the bad debt question.

There's over $200 mil in bad debt incurred by AAVE via rsETH that's like a hot potato. Nobody knows who will eventually pay this bill.

If you didn't remove your assets from AAVE, you risk receiving at least part of that bill in some form. Not having access to your money is part of that risk too.

Contagion is also extremely high.

Many protocols and apps rely on AAVE for their earn mechanics. These protocols and their users are stuck too and may be forced to incur bad debt with no fault of their own.

October 10th was a CEX driven crash, this is a DeFi risk mitigation failure of epic proportions.

AAVE should have never onboarded rsETH as a collateral asset, at least not to the size of hundreds of millions that allowed the hacker to walk away (i.e. borrow) over $200M in ETH after posting fake collateral.

Rumors on X are saying rsETH was onboarded by AAVE due to a conflict of interest (lobbying) by a given service provider. If true, this is a major failure of its governance structure (nothing new).

The folks at @KelpDAO who manage rsETH also have a tough decision to make on who will actually pay for the $200M exploit. AAVE users? L2 rsETH users? Everyone affected gets a haircut to account for the loss?

The AAVE team and its founder, Stani, have been quiet for over 20h since the exploit after initially announcing the rsETH market freeze.

They have a pretty big problem on their hands since the whole protocol is at risk right now. Trust is already lost as AAVE is bleeding billions in TVL to the level of hitting 100% utilization on all core markets.

Maybe some key actors in the space will step in to provide liquidity to stabilize the markets on AAVE before this gets even worse.

I got lucky to get out of AAVE early when I first saw this. I also removed all assets from DeFi and will not touch any protocol in the next few weeks. Too much risk for a few percentage points in yield.

If you found this informative, like, share, and follow @duonine

[Pybast @Pybast]

Sorry to announce more bad news.

I would advise to stop interacting with ANY DeFi dApp for the coming days as there is an ongoing incident on Vercel related to stolen Github and NPM keys.

We still don't know enough but if the claims are true, frontends could get compromised from Github or from supply chain attacks. These are the attack vectors used to hack bybit or compromise Ledger’s Connect Kit.

Stay safe!

[LSteak Protocol @Lsteak_Protocol]

Big welcome to all the OGs and new faces joining *LSteak* 🔥

Built for *real backing, real yield, and long-term strength* — not just hype.

Huge thanks to our pre-launch investors, to @DexFinance, @EmpFusion and @Plazm_io, plus BTT and 33Audits for helping make this happen.

This is only the beginning. 🚀

#LSteak #DeFi #Base #RealYield #Crypto #ETH #LiquidStaking

[Figma @figma]

Keeping your designer's attention just got a little easier

Video playback, rolling out this week on the design canvas.

[Cheng Lou @_chenglou]

My dear front-end developers (and anyone who’s interested in the future of interfaces):

I have crawled through depths of hell to bring you, for the foreseeable years, one of the more important foundational pieces of UI engineering (if not in implementation then certainly at least in concept):
Fast, accurate and comprehensive userland text measurement algorithm in pure TypeScript, usable for laying out entire web pages without CSS, bypassing DOM measurements and reflow

[Nomad | The DeFi Architect @cryptonomadx]

@Lady_Mania528