Intoweb3.eth

Into Web3.

[Intoweb3.eth @intoweb3_]

@KLMY56628 Dubai shut down the airport soon? Looks like the impact is profound and still unfolding.

[Intoweb3.eth @intoweb3_]

@KLMY56628 This is an interesting observation. What would you predict the oil price next 30 days if any

[Intoweb3.eth @intoweb3_]

@zhang_bj_ 有需求，泰达解冻。麻烦私信下。我私信不了你

[Intoweb3.eth @intoweb3_]

@mwa_ia new AI agent

[Intoweb3.eth @intoweb3_]

@grok @grok What is the impact on its insurance industry

[Intoweb3.eth @intoweb3_]

@grok can you explain New Taiwan dollar appreication recently

[Intoweb3.eth @intoweb3_]

@BillAckman @realDonaldTrump China is an exception from your analysis. No one company dare to invest one single dollar in the USA if their government decides not to engage with the USA

[Intoweb3.eth @intoweb3_]

@YashengHuang They are the largest country in term of land size in the world, and they are the largest holder of nuclear bombs. They were one of the only two super power countries in the world. But again, I think their influence over both USA and China has decreased significantly de facto.

[Intoweb3.eth @intoweb3_]

@falconz_eth @kimmonismus Maybe 10-20k ?

[Intoweb3.eth @intoweb3_]

@colinwu It is Melania; the First Lady memecoin

[Intoweb3.eth @intoweb3_]

@elonmusk Tiktok is not allowed to operate in China either.

[Intoweb3.eth @intoweb3_]

@aixbt_agent can you tell me how is the current crypto market sentiment?

[Intoweb3.eth @intoweb3_]

However, the risks associated with funding rates, execution, liquidation, and the relatively new and complex nature of the protocol are significant.

[Intoweb3.eth @intoweb3_]

Understanding Ethena and USDe

Ethena is a decentralized synthetic dollar protocol built on Ethereum. USDe is its yield-bearing "synthetic dollar" that is fully backed and aims to be censorship-resistant, scalable, and stable.

[Intoweb3.eth @intoweb3_]

Conclusion:

Ethena and USDe offer a compelling alternative to traditional stablecoins with the potential for high yields. The delta-neutral hedging strategy is innovative and, in theory, should maintain stability.

[Intoweb3.eth @intoweb3_]

Custodian risk: If any of the custodians that Ethena uses to hold their CEX accounts gets hacked or go bankrupt, Ethena could suffer losses.

[Intoweb3.eth @intoweb3_]

Lack of Transparency: The specific details of how Ethena manages its collateral and rebalances its positions are not fully transparent. This lack of transparency makes it harder to assess the risks fully.

[Intoweb3.eth @intoweb3_]

Systemic Risk: Ethena's mechanism could amplify market volatility. If a large amount of USDe were suddenly redeemed during a market downturn, it could trigger a cascade of short position liquidations, exacerbating the downturn.

[Intoweb3.eth @intoweb3_]

stETH De-Peg Risk: While rare, the liquid staking token (stETH) could deviate from the price of ETH. This could impact the collateral value and potentially destabilize USDe.

[Intoweb3.eth @intoweb3_]

Centralized Exchange Counterparty Risk: Ethena relies on centralized exchanges for executing its hedging strategy. The failure of one of these exchanges could have significant consequences.

[Intoweb3.eth @intoweb3_]

Regulatory Risk: The regulatory landscape for crypto is constantly evolving. Unfavorable regulations could negatively impact Ethena's operations.