Milo

Crypto Finance Analyst (since 2018)

[Milo @milo_lend]

@elementaldefi @orca_so @onrefinance Good tek

[Milo @milo_lend]

@moothefarmer Following this thread. Hope u post more about this for educational purposes.

[Milo @milo_lend]

Why you @Polymarket archived this market? https://t.co/8IByAyT3R3

[Polymarket @Polymarket]

JUST IN: Trump announces a three day Russia-Ukraine ceasefire from May 9-11.

[Milo @milo_lend]

30% is overstated. Why keep on hyping the APY?

[molu @molusol]

Right now, Solana DeFi is in a weird spot, but that does not mean you exit, imho.

Here's what I am still in:
> Borrowing USDC against PST on @jup_lend (~30% APY)
> Looping ONyc on @Loopscale (~18% APY)

These 2 are worth the r/r to me.

[Moo | Elemental @moothefarmer]

/start_rant

I’ve spent the last 4 years obsessing over one thing:

--> Trust <--

Not marketing. Not TVL. Not hype.

--> Trust <--

We designed Elemental’s architecture from the ground up with paranoia. Tight opsec. Conservative security assumptions. Even down to personal decisions, I’ve EVEN avoided unnecessary moderately "risky" activities (bungee jumping, skydiving, etc) because key-man risk is real in this space.

That’s the level of discipline required. That's the level of sacrifice needed.

And yet, none of that mattered when @DriftProtocol
went down.

Let’s be clear. This wasn’t just “a sophisticated DPRK attack”.

That’s the EASY narrative.

The raw truth is this: Basic security UTTERLY, ROYALY, DISGUSTINGLY, failed.

A 2/5 multisig + signing devices freely downloading external apps?

For a protocol managing hundreds of millions, that’s pure negligence. As your protocol grows, your security standards must scale faster than your TVL.

Drift didn’t.

The result?

Countless users lost huge swaths of money. A number lost life savings.

Many projects got hit and I know a handful probably will not survive this.

Even seemingly unrelated protocols took damage:
@kamino 's Sentora vault alone saw ~$220m exit in a flash. @JupiterExchange 's JLP dropped ~$160m.

And the worst part?
I’ve had countless users tell me they’re leaving DeFi entirely. Not just @solana DeFi. They're exiting DeFi entirely and going to put their money back in banks.

That's insanity. We literally spent all of our effort trying to build a better future of finance, and then Drift bombed us back to the stone age.

And I don’t even blame these users. Trust, once broken, is almost impossible to regain.

Leadership matters most in moments like this. Mistakes happen. They always will. I’ll likely mess up somewhere, someday too. I am, after all, human.

But silence? Deflection? Delegating responsibility instead of owning it?

That’s a complete bankruptcy of character.

@cindyleowtt has said almost nothing aside from: "Today has been an extraordinarily difficult day for Drift. I’m incredibly grateful for the outpouring of support from the community."

No apology. No remorse. No accountability.

@davijlu is even worse. Zero posts.

They pushed everything onto their BD staff, Tracy, to handle communications.

I’ve only heard from Tracy. Nothing from David. Nothing from Cindy. In fact, nothing from anyone in Drift’s leadership.

This is a live masterclass in gross management failure. Utter incompetence.

Realistically, given how DeFi operates and how most teams are structured, it’s unlikely there will be any meaningful legal recourse for users.

I’m not a lawyer, so I could be wrong. But I do hope karma comes at them, full force.

/end_rant

[Milo @milo_lend]

@jayowtrades Gratsss boss

[JayOw | Hanyon Analytics @jayowtrades]

Most DeFi yield disappears in a bear market. Reinsurance premiums don't.

I spent the past week digging into @onrefinance's $ONyc.

- Where the 10.25% yield actually comes from
- How the underwriting portfolio is structured
- How the collateral is diversified
- What risks remain

Check the full write-up:
https://t.co/ZEd4N1wub7

[Milo @milo_lend]

#NewProfilePic

[Milo @milo_lend]

@jayowtrades @kjdhaliwal @Lotus Lezzzgoooo!!!!

[Milo @milo_lend]

@Kurohgi @nadoHQ Impressive

[Milo @milo_lend]

@Paradex_Eco Lezzgooo bosss

[Milo @milo_lend]

@paradex Ramping

[Milo @milo_lend]

@jayowtrades There is significant potential to gain in this sector.

[Milo @milo_lend]

@mog_russEN Gold price always rising…

[Milo @milo_lend]

Up Only https://t.co/OK47QZSFqA

[JayOw | Hanyon Analytics @jayowtrades]

Everybody's talking about acquiring @solsticefi YTs in @ExponentFinance to get the max flares.

But have you ever wondered what happens when you buy YTs?

Let's learn together!

---
1/

YT stands for Yield Token.

It gives you exposure to future yield from the underlying asset, plus emissions rewards (like points). Here's how buying YT works from start to finish.

[Milo @milo_lend]

@buidlpad Problem is the refunded SUI’s Market price dropped…

[Milo @milo_lend]

@jussy_world @flashtrade How about the exposure of FLP.1?

[Milo @milo_lend]

Peanuts received.. haha

[Milo @milo_lend]

I have just stake &amp; claim my $NX airdrop! Let's shape the future of Season 3 airdrop together!https://t.co/55xpGqdMiU

[Milo @milo_lend]

I have just stake &amp; claim my $NX airdrop! Let's shape the future of Season 3 airdrop together!https://t.co/55xpGqdMiU