A very large fund, who started as an LP asked me yesterday why are you still doing Neutrl? You earn all this money and just pay it out to users. You would just make more as a fund. He is not wrong, but tough times never last, only tough people do..
I know a lot of people are tired, I am tired.
- tired of games in crypto
- tired of emissions pretending to be yield - tired of industry leverage blowing up - tired of protocols optimizing for hype instead of sustainability - tired of the same cycles repeating
- tired of people taking this opportunity we have as industry for granted
The industry went through a brutal reset over the last 2 years and although it may such, honestly, I think it needed to happen.
The easy yield is gone. She has been gone for a while. Capital is more cautious especially after the industry wide opsec issues.
Users ask harder questions now. That’s probably healthy but weirdly, this is also why I’m still excited to build Neutrl.
When I started Neutrl, I did not need money. 1 year later our thesis played out and personally now need less.
BUT I am still excited to grow Neutrl because underneath all the noise, crypto markets are still incredibly inefficient.
There are still real opportunities in: 1. OTC discounts 2. funding dislocations 3. basis spreads 4. fragmented liquidity 5. and unlock-driven supply imbalances
The difference now is that these opportunities actually need to be managed properly.
No more pretending risk doesn’t exist.
I think the next generation of crypto yield products will look much more institutional: 1. more transparent portfolios than TradFi 2. very active risk management 3. sustainable returns and real portfolio construction instead of emissions farming.
That’s what we’ve been trying to build.
We literally have been in the trenches since launching, so much shit has happened to our industry.
And despite running conservatively low OTC allocation, weak liquid yield conditions since late 2024, and over 80% of supply staked, Neutrl has still remained one of the higher yielding stablecoin protocols above $100M TVL.
That gives me confidence the model itself works. There are new iterations and features that would make us even better and that is what we spend a lot of time on.
The truth is I don’t need to do Neutrl for a livelihood.
I’m doing it because I genuinely enjoy solving hard problems, building through uncertainty, and being in the trenches every day with an insanely talented team I am lucky to have and we are adding too, trying to create something new.
That part still feels very real to me.
Still early. Still a lot to build.
Public Pre-Deposit access is live.
Deposit $USDC or $frxUSD to secure your future $TAN allocation, score points, and earn yield.
Link and details below.
Mix-Yield Tokens utilize Auto Finance yield to optimize your capital efficiency.
@autopools provides a versatile set of yield sources for Mainnet mixETH and mixUSD strategies.
A thread. 🧵
Unitree Unveils: GD01, A Manned Transformable Mecha, from $650,000 👏
The world's first production-ready manned mecha. It can transform. It's a civilian vehicle. It weighs ~500kg with you inside.
Please everyone be sure to use the robot in a Friendly and Safe manner.
Monad keeps doing small airdrops. And I keep stacking it as wmon on @Curvance to help people loop their lsts. Been growing like crazy when utilization goes up.
Tangent’s public Pre-Deposit campaign: Monday, May 18th.
Provide liquidity with $USDC or ethereum:0xcacd6fd266af91b8aed52accc382b4e165586e29, hold your position, earn yield, and secure your share of $TAN tokens.
Details below 👇
I don't understand why people don't trust data centers.
You can clearly see that these AES Indiana rates for Google's data center in Monrovia, IN are fair and reasonable.
layerzero solosig dependency check in
if you haven't hardened your config, you are sitting on an unnecessary dependency on layerzero 3/5 solosig.
if it gets compromised, it could instantly drain all the adapters that rely on the default receive library. after the kelp exploit, the vulnerable adapters tallied to $3.13 billion. after some outreach, the number has dropped to $178 million.
good progress, but still not enough. there is still a long tail of projects that have ignored this advice.
i will make this simple for you. here is a full list with exact calls for how to pin the default library.
https://t.co/diEyhgheRB
Status update: We are moving forward following the KelpDAO incident.
alETH borrowing is now enabled, and MYTs are earning yield. aWETH is in the process of reopening, which allows v3 to operate.
Next steps: Raise Transmuter and Vault deposit caps for full launch.
See you soon.