Every company listed below has suspicious revenue recognition. The actual chart with ALL the give-and-take deals would be unreadable. The future will regard this a picture of fraud, not a flywheel. True end demand is ridiculously small. Almost all customers are funded by their dealers. If you can name OpenAI's auditor in 1 hour you win some pride.
Yield farming changed a lot this year. We went from trying to find alpha in exotic chains, new underfarmed protocols, illiquidity premiums, and outperforming loops to gated private deals and incestuous cronyism. Recent examples, such as Stable's pre-deposit vault and rising opaque tokenized yield funds illustrate this very well.
I attribute this to different factors:
1/ Earn to TVL (RWAs/stablecoin projects raise money & are valued based on TVL growth), requiring protocols to solve the cold start problem and give away supply in exchange for tokens. Just like when you raise a funding round with VCs and are ready to give away more for big names providing a reputational boost, protocols are ready to be generous to KOLs and yield funds if that gives them klout.
2/ The rise of 'curators-tokenized yield funds' on Morpho and Euler: this created a vicious system where curators aren't curators anymore, the only thing they curate is what is in their best interest, not in the lender's best interest. They will systematically favor lending markets from protocols that give them TVL deals and boost their tokenized yield fund return. Often, they will even redirect lenders' funds to their own lending market (see Hyperithm/mHYPER, which has been extensively discussed lately).
3/ Trust me bro tokenized yield funds: in a market that is fine lending its money to black boxes, these black boxes are able to grow and gain bargaining power. It's a self-reinforcing mechanism where the bad actors get access to favorable terms. This works as long as loose risk management doesn't turn into a massive collapse event.
I don't think these trends will slow down anytime soon unless there is a particular event that happens, but it's sane to see these behaviors being called out recently.
If you have money on @MorphoLabs or @eulerfinance
I highly recommend you to withdraw from vaults having exposure to mHYPER and xUSD
What's going on there is not decentralized finance
This is max opacity finance
Risk reward is not there trust me
@0xCryptoSam Try to figure out which wallets are in the unstaking queue. Most likely, you will conclude that this LST ETH has already been sold during the recent rally.
For all of those Americans brainwashed by Putin and Trump, here is a reminder of what's taken place in Ukraine:
- Putin Invaded Crimea (2014) – Russia illegally annexed Crimea, marking the first forcible land seizure in Europe since WWII.
- Russia Fueled War in Eastern Ukraine (2014-Present) – Putin armed and funded separatists in Donetsk and Luhansk, igniting a conflict that claimed over 14,000 lives before the full-scale invasion.
- Putin Lied About Ukraine & NATO (2021-2022) – He falsely labeled Ukraine's government as Nazi and portrayed NATO as a threat, despite no aggressive actions from NATO or imminent Ukrainian membership.
- Russia Massed Troops on Ukraine’s Border (2021-2022) – Over 150,000 Russian troops amassed near Ukraine under the guise of "military exercises," while planning an invasion.
- Putin Launched Full-Scale Invasion (Feb 24, 2022) – Russia attacked Kyiv and other cities at dawn, aiming for a swift Ukrainian capitulation through a multi-front assault.
- War Crimes Began (2022-Present) – Russian forces committed atrocities, including civilian massacres, rape of civilians, and attacks on non-military targets like schools and hospitals.
- Russia Stole Ukrainian Land & People – Putin illegally annexed four regions in 2022 and forcibly relocated thousands of Ukrainian children to Russia for "re-education."
- Ukraine Fights Back & the World Responded – Ukraine's resilient defense led to significant Russian withdrawals, with global allies providing military aid and imposing sanctions on Russia.
- Trump's Pro-Russian Statements are Made (February 2025) – President Donald Trump called Ukrainian President Zelenskyy a "dictator" and falsely accused Ukraine of starting the war, echoing Kremlin narratives.
@OmahaBasil@Anc_Aesthetics For example, you can't say what your about you political view. Any protest -prison. If govt send you to Ukraine you will literally shoot your classmates. You're brainwashed.
@Tetranode Ok, thanks. In Russia, people are arrested for a white piece of paper or the words "no war". Unfortunately, there are not many places left in the world for living. Btw, 👋 from OasisDex, i remember you:)
@OmahaBasil@Anc_Aesthetics The Russian orthodox church has been part of the KGB since Soviet times. You know nothing about Russia and the Russian people. But the world has really fallen. Americans will begin to better understand the Russians who are captured by the criminal regime, but it will be too late