The question over the next two weeks isn’t whether DeFi survives, but whether institutional risk teams come out the other side with a more defensible framework.
The answer is probably yes.
In 2008 terms, LSTs are the underlying mortgage while LRTs are the CDO (same base asset, but every failure point in the chain above it gets inherited, and when one link breaks, every claim downstream becomes unbacked at once. Same mechanism.
Staking isn’t a product. It is ✨infrastructure✨
Once you realise that, you stop chasing yields and start building the rails trillion-dollar finance will run on.
Yield = by-product
Real alpha =
- MEV & blockspace flows
- Custodian + ETF positioning
- Governance & protocol influence
- Structured product integration
Bobby Axelrod once said “Our investors pay us a three percent management fee and 30 percent of their profits. You think they want me to tell them we’re buying some fucking Apple?”
You’re playing this game full time.
All you can do is buy what everyone else is buying?
Do better.
🚨JUST IN: Researcher @4484 grouped the attacker’s wallets on @arkham under an entity named “NPM attack.” The data shows the attacker managed to steal only $66.