$ergey

🌎WEB3 & DeFi space🌏decentralization 🌶️hot staking 🥩.USER. @ether_fi AMBASSADOR. ⚒️former #ETH miner.

[$ergey @glowsconces]

It’s time to flip flop,

Swap First #Defi credit card to First #DeFi credit card!

Of course it’s a @ether_fi cash

#DeFi never was so smoothly before!

[$ergey @glowsconces]

@MikeSilagadze 😂————————————>🤦 who knows, you might not joking

[$ergey @glowsconces]

@dcfgod Agree.
You earn either way

[DCF GOD @dcfgod]

Get ~5% Apr on the money you aren’t spending

Get 3% cashback on the money you do spend

Borrow against your crypto assets when you spend so you don’t have to sell them

It’s the best card product on earth

Try it https://t.co/HLbPlWcmUj

[$ergey @glowsconces]

@0xDani Great signature

[$ergey @glowsconces]

@ssv_network Check in!

[$ergey @glowsconces]

👀If your wallet holds eETH or weETH at the June 5 snapshot, you are on the list.

Integration boost?

[ether.fi @ether_fi]

We built EtherFi on the conviction that the validator layer should be decentralized and the rewards should compound.

SSV is the infrastructure that makes the first part real.

If your wallet holds eETH or weETH at the June 5 snapshot, you are on the list.

Details here: https://t.co/goEwpOpAg0

[$ergey @glowsconces]

@ether_fi Liquid ETH counts?

[$ergey @glowsconces]

@ether_fi It’s sitting there!
Waiting for boost

[ether.fi @ether_fi]

New day, new all-time high in spend volume. Thank you for choosing https://t.co/gbHcksy7eA.

Onwards.

[$ergey @glowsconces]

Security is the first!

[Jacquelyn Melinek @jacqmelinek]

Today's @_TalkingTokens discusses how DeFi protocols should be thinking about risk and what institutions want to deploy on chain.

I interviewed @MikeSilagadze, founder and CEO of @ether_fi, and @joechalom, CEO of @Sharplink to dive into:

- EtherFi's updated risk framework and emergency "red button"
- How Sharplink's $2 billion+ ether treasury underwrites DeFi risk
- Why it's important to consider tail risk in valuations
- Why performative decentralization makes protocols less safe
- What it takes for institutional players to deploy on DeFi protocols and more

TIMESTAMPS

00:00 – Intro
01:30 – The relationship between EtherFi and SharpLink and why they work together
01:46 – What EtherFi is building: the DeFi bank with $5-6 billion in deposits
02:24 – SharpLink's $2 billion Ethereum treasury and why they deployed $200 million into EtherFi
03:38 – Balancing speed and safety: why the DeFi risk playbook hasn't been written yet
05:28 – Why institutions move slow deploying, but go fast when monitoring problems
07:25 – How EtherFi approaches security: in-office teams, formal verification, and constant audits
08:26 – Decentralization theater: why performative decentralization makes protocols less safe
09:17 – Why EtherFi is building an emergency “red button” intervention system without compromising self-custody
10:53 – How SharpLink's team underwrites DeFi risk
13:28 – Why institutions are still in the first inning of DeFi adoption
17:28 – How tokenized securities will unlock DeFi at a scale far beyond bitcoin and ether
22:11 – Qualified custody with Anchorage and why ops alpha matters for institutional DeFi
23:09 – What's next for EtherFi: global licensing and becoming a viable alternative to banks
25:56 – Stablecoin rails as the main way crypto reaches the real economy
28:31 – Tokenization about to expand as NYSE, Nasdaq, and DTCC opening up 24/7
29:44 – Final advice: stay safe, don't chase yield, and invest in young builders

Full episode below:

[$ergey @glowsconces]

@defilaunch @ether_fi Everyone deserve own vault
Liquid juicy vault
Congratulations!

[PragueBrewer @defilaunch]

Just hear me out: $EURC vault at @ether_fi will exceed $1M in 10 days! Want to play?👇

https://t.co/S3HcPLbCSB

[$ergey @glowsconces]

@MikeSilagadze @ether_fi @ether_fi is unstoppable

[Mike Silagadze🛡 @MikeSilagadze]

The best $EUR card is now @ether_fi

- Zero fx on $EUR spending
- Hold $EURC and spend $EUR 1:1
- Deploy your EUR into the Liquid vault to earn

Essentially if you have an @ether_fi card, you now have a multi-currently account that let's you spend and borrow USD and EUR.

[$ergey @glowsconces]

We are not affected,
DeFi in good hands 🙌

[ether.fi @ether_fi]

https://t.co/Qt0qs7gkwM

[Mike Silagadze🛡 @MikeSilagadze]

Why did @ether_fi commit 5k ETH to the Kelp hack recovery fund?

Because we believe there was a very real risk that this could have killed DeFi.

The default path was:
Kelp bankruptcy -> $1.5B of rsETH tied up for years -> $30B Aave lending market locked up -> Cascade of DeFi and CeFi implosions. Game over for crypto.

FTX would have looked small in comparison.

In the face of these systemic risks we saw almost everyone pull back and hide behind lawyers. The worst case scenario was playing out.

The one team that stood out and stepped up was Aave. In many ways they were the least to blame (and there was plenty of blame to go around) but they took ownership and immediately began raising funds to fill the hole left by the hack.

If the @ether_fi team helped in some small way, it was mainly to open up communication help others see the gravity of the situation.

There’s a lot more to be written about what happened, and things are still playing out. But I think the worst case scenario has been averted.

Lots of soul searching to be done about systemic risks and decentralization theatre by everyone.

We’ll do a longer write up in a few weeks.

[$ergey @glowsconces]

@hardtotelll Partial restaking via #weETH Partial PT in @pendle_fi

[$ergey @glowsconces]

@ether_fi points tracker told me that 100% completed.

What is next?

[$ergey @glowsconces]

@ether_fi @Defi_Warhol What if 11/10