So do I get this right
>Saylor buys BTC
>Issues STRC
>Buys more BTC with proceeds as market goes up
>Average buy price of infinity
>Eventually market goes down
>STRC depegs
>Saylor sells BTC below his average to repeg STRC
>Market moves even lower below his average
>Sells even more BTC to repay STRC
>Eventually market recovers
>Saylor issues more STRC
>Buys now more expensive BTC
>Repeat
I'm a duck but even to me this sounds very retarded
If I understand this correctly it's the worst ponzi I've ever seen
This is the point. Same will happen in all countries that will make social media age restrictions. “Won’t someone think of the children” is usually not about the children
Ethena is partnering with @Securitize as a strategic tokenization partner, with the integration of STAC, the Securitize Tokenized AAA CLO Fund, into USDe's backing.
This expands USDe's institutional-grade RWA exposure beyond existing Blackrock BUIDL collateral.
The integration was approved by the Ethena Risk Committee following independent due diligence, evaluated against the same four criteria: liquidity, credit quality, drawdown profile, and pricing transparency.
The first product in the Ethena ✦ Coinbase collaboration is now live.
The @SteakhouseFi High Yield Vault has officially launched on @Coinbase, powered by USDe on @Morpho.
Coinbase's user base now has access to a best in class savings rate through the vault, live in the Coinbase App for users in the U.S. and abroad.
As Ethena broadens its scope into RWAs excited to bring our first partner to market for USDe backing outside of BlackRock BUIDL with Janus Henderson JAAA.
Importantly, as we continue to partner with asset managers like Janus Henderson as allocators into their products, we simultaneously broaden USDe distribution into their own institutional distribution channels we wouldn't otherwise have access to.
THANK YOU TO ALL OF YOU WHO ENJOY MBL!
WE HIT 50,000+ INSTALLATIONS!
- 20 Days since launch
- Only a 1% Crash rate. On Android!!
- Lots of incredible feedback <3
- V1.1 coming this month!
Hey if anyone's hiring, please let me know.
My marketable skills include:
- Buying the top before the Hades Candle
- Bullposting the top before the Hades Candle
- Being max exposed before the Hades Candle
- Poor Overall Judgment
- Being Japanese
Following the recent post outlining the backing diversification of USDe, we have published the next phase of that work: broadening RWA exposure beyond tokenized T-Bills.
The first asset category under evaluation is AAA CLOs, which sit at the top of the capital stack, with a zero default rate at the AAA level across the entire history of the asset class.
The allocation helps diversify the sources of revenue for Ethena across market cycles.
Our first partnerships and allocations with asset managers and issuers in this category will be released next week.
Details in the link below:
If there is one thing I've learned is to never underestimate the resilience of the Ethena team to keep delivering value, despite market conditions.
Impressive work.