Eug @cryptosnakesg - Twitter Profile

about 2 years ago

Ethena, the next TOP 10 protocol. Imagine getting 35% on your dollar. This means for every $1 million in your savings account, bank pays you $350K a year. This will disrupt everything you know, fks your brain over. Zero risk downside with 35++% returns. It’s NOT POSSIBLE in finance. Ever. So how do you achieve safe yield? Real yield? And not some Ponzi shit like Luna with UST. Let me explain stable coins first: Algorithmic - Like Luna’s UST Downside - So far, nothing works. And risk is in code. Collateralised - DAI, EUSD, LUSD Downsides - Not capital efficient. Collateral lock 150% onwards Fiat - USDC, USDT Downside - Regulatory Risk, government can shut all routes Let’s understand Ethena. Imagine you buy $10,000 worth of $nvda shares and at the same time, you short $10,000 worth of $nvda shares. You are effectively delta neutral. NVDA shoots up $1 million. You earn nothing, lose nothing. NVDA goes to zero. You earn nothing, lose nothing. Delta Neutral. That is what Ethena aims to do. Delta neutral positioning. Buys $eth and short $eth via perp swap Where does USDe real yield comes from? Long side: Staked ETH. Dashboard for transparency https://t.co/CNoh9xaNL4 Short side: Perp Swaps funding rates. Dashboard for transparency https://t.co/tKw3BpY3Sl How 35%? Not all USDe is stalked. Ethena Protocol Annual Revenue = Total Yield * (1–80% * (1 — sUSDe Supply / USDe Supply)) https://t.co/ob8eHGTS6Y Risk? CEX. These days we can view health of CEX like here: https://t.co/YrSWMqBUCk CEXs are investors in Ethena and have a vested interest in not getting hacked and ensuring proper payouts on their derivatives. Derivative CEXs are the most profitable crypto companies, and they want to stay that way. I’m exploring other attack vectors everyday, from every angle. Have a team on it. If you know of any attack vector that could happen, let me know. Personally I’ve accessed all attack vectors. In tradfi, every finance grad studies 08/09. That’s why there’s never a repeat. Luna was 08/09 for crypto. This is going to be another Luna, but bigger. USDe will overtake USDT. Safe Yield is extremely disruptive. Just look, 5th place in 2 months. https://t.co/GqjEfjnts6 Institution Investors: “Huh REAL Yield? 20% lowest?, sometimes 60%? now 35%? No risk? WTF? Fastest growing TVL EVER. 1.5B, there is nowhere real yields are better. Real yield maxi are gonna go crazy. Up only TVL imo. Good read here on Ethena: https://t.co/dW8HlwaJSH This is a long hold for me, at least until the end of this bull run. Strategy is accumulate 70% position, add 30% position if drop a lot and hold till end of bull market. Probably mid 2025, pending incoming data. Not sponsored, I didn’t get seed allocation, I’m just like everyone. Project goes live 2nd April 8am UTC on most exchanges. 4 Pointers: 1. Q2 there will be blood, high chance everything will drop but I’m not timing it. 2. Most of my allocation is done on binance and my private wallets 3. I do not have an edge over you, I do not have seed allocation. 4. I see a few comments on me potentially selling olas for this. Retards. Contract Address: https://t.co/tkoX0NXC9N DEX is illiquid now, if you are going in with size, Binance. Don't uniswap this shit at the start or snipe with $banana Credits: Special thanks Lukas @MiyaXBT for bringing this to my attention. Best gem hunter I know, best researcher, best tracker and also the biggest troll on CT, larps will not understand. Those in his closed circle knows he has high integrity. One of the very few good players on CT.

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