240932
Monteluna
@monteluna #240932
Defi. Ethereum. Physics.
562 Follower 316 Following
I have mentioned before that PYUSD was larping in crypto.
Paypal has plenty of resources to actually compete in the cryptobanking space, but they refused to deep integrate into Venmo/Paypal, and just had a bizarre GTM strategy.
https://x.com/hosseeb/status/1846560730868236345
Paypal has plenty of resources to actually compete in the cryptobanking space, but they refused to deep integrate into Venmo/Paypal, and just had a bizarre GTM strategy.
https://x.com/hosseeb/status/1846560730868236345
Waiting for people to realize OHM is a cryptobank...
Taking a quick check of @pendle-fi interest rates.
I haven't typically been posting about /cryptobanking since in a bull market, rates don't really matter. Despite the heavy moves up, rates are holding strong in double digits, with @usual absolutely crushing APYs.
I haven't typically been posting about /cryptobanking since in a bull market, rates don't really matter. Despite the heavy moves up, rates are holding strong in double digits, with @usual absolutely crushing APYs.
Watching the housing market reprice and re-underwrite in real time.
America really needs to figure out why we push all middle class families to absorb a ton of their net worth in their homes, and subsidize their ownership.
https://x.com/theallinpod/status/1845514463312789542?t=a4L8NP707eThvbJsL_niYA&s=19
America really needs to figure out why we push all middle class families to absorb a ton of their net worth in their homes, and subsidize their ownership.
https://x.com/theallinpod/status/1845514463312789542?t=a4L8NP707eThvbJsL_niYA&s=19
Remember kids, a salary getting paid for honest work is still a viable path to wealth for yourself and your family.
You don't have to bet on memecoins. You can just learn how to install toilets and be a millionaire.
You don't have to bet on memecoins. You can just learn how to install toilets and be a millionaire.
Can anyone confirm or deny if @uniswap did in fact receive a $100M grant to make Unichain on the @optimism stack?
Would be pretty wild if true. I do think these disclosures are important for token holders.
https://x.com/wagmiAlexander/status/1844939724705714401
Would be pretty wild if true. I do think these disclosures are important for token holders.
https://x.com/wagmiAlexander/status/1844939724705714401
These form factors are great until you realize the only OS that works at this size and is plug and play into a thriving app ecosystem is Android.
https://soulscircuit.com/pilet
https://soulscircuit.com/pilet
Very good view on cryptobank stablecoins.
https://x.com/henloitsjoyce/status/1843893123031937510?t=JmsVB-WAyF9mHuVuNO_4Xw&s=19
https://x.com/henloitsjoyce/status/1843893123031937510?t=JmsVB-WAyF9mHuVuNO_4Xw&s=19
@nourharidy on $DOLA's bad debt and a path to recapitalization.
https://x.com/NourHaridy/status/1842943369548374228?t=4YWxZn3lFxUP2_upgeEZAg&s=19
https://x.com/NourHaridy/status/1842943369548374228?t=4YWxZn3lFxUP2_upgeEZAg&s=19
I highly recommend people take a read of this paper to learn how FEMA has worked. Its a little outdated, but some people seem to be outraged that the government isn't helping out the flood zones after Helene.
The surprise is people expected the government to bail them out after a natural disaster. I feel like all home owners should have been told this program is not to be relied on, and that should have been factored into purchasing decisions for at risk homes.
You go broke waiting for government compensation to make you whole again, and half these insurance companies don't even want flood policies anymore.
https://www.cambridge.org/core/journals/journal-of-policy-history/article/troubled-waters-the-national-flood-insurance-program-in-historical-perspective/3F9481EC44EBC8F83AD93A5689E33A14
The surprise is people expected the government to bail them out after a natural disaster. I feel like all home owners should have been told this program is not to be relied on, and that should have been factored into purchasing decisions for at risk homes.
You go broke waiting for government compensation to make you whole again, and half these insurance companies don't even want flood policies anymore.
https://www.cambridge.org/core/journals/journal-of-policy-history/article/troubled-waters-the-national-flood-insurance-program-in-historical-perspective/3F9481EC44EBC8F83AD93A5689E33A14
So let's see if Ethereans are really about voting with their feet after Telegram.
I'm on as m0nteluna. Feel free to message me.
I'm on as m0nteluna. Feel free to message me.
Real dog hours.
Austin Campbell on stablecoins and the U.S. banking regime.
https://www.youtube.com/watch?v=3-oz-XUF1EM
https://www.youtube.com/watch?v=3-oz-XUF1EM
As Defi front ends become more annoying with geoblocking and teams get DNS attacked, there's a world where people go direct to chain with AI generated UIs, and I don't think its hard to do.
The only toolkit I find useful is @apeworx for programmatic chain interactions, but I think there's an opportunity for anyone to make some AI tool that ingests smart contract code/ABIs and automatically generates a local front end for you.
AskBrian could get there too.
The only toolkit I find useful is @apeworx for programmatic chain interactions, but I think there's an opportunity for anyone to make some AI tool that ingests smart contract code/ABIs and automatically generates a local front end for you.
AskBrian could get there too.
I really hope we get these market structure reforms the House has been discussing, and the SEC gets seriously reformed.
The SEC, and many agencies, are completely out of control by being unaccountable to anyone and it's time we made some adjustments.
The reality is the rules were written before computers, and designed in an age when market participants didn't interact directly with investments, which leaves a gap in terms of expectations. This is just one case where "Elizabeth Warren and her goons" took advantage of this gap to put in place their own interpretation, but the interpretation should come from Congress and not a few Senators in backroom deals and private emails.
Fire Gary Gensler.
https://x.com/GOPMajorityWhip/status/1838616037945716999
The SEC, and many agencies, are completely out of control by being unaccountable to anyone and it's time we made some adjustments.
The reality is the rules were written before computers, and designed in an age when market participants didn't interact directly with investments, which leaves a gap in terms of expectations. This is just one case where "Elizabeth Warren and her goons" took advantage of this gap to put in place their own interpretation, but the interpretation should come from Congress and not a few Senators in backroom deals and private emails.
Fire Gary Gensler.
https://x.com/GOPMajorityWhip/status/1838616037945716999
I have opinions on a few layers/side chains/rollups that appear to have completely dropped the ball despite having some clear advantages.
Polygon. Gnosis Chain. Loopring.
Polygon. Gnosis Chain. Loopring.
Aswath on one of his least favorite topics: Central Banking!
https://www.youtube.com/watch?v=RpuuRS6mkx8
https://www.youtube.com/watch?v=RpuuRS6mkx8
My rare 2 gwei on poliltics.
I was listening to my typical finance podcasts today, and in one of them the speaker made the point that Jill Biden was a chair on the last Cabinet meeting, leading to some remarks about how Jill appears to be leading the country.
If you search for news post on the meeting, there's a ton of headlines that seem to suggest "Jill Biden is running the country" and that it's a travesty that no one is talking about it.
What was interesting is, if you do a search on the exact meeting, Biden was there, and Jill Biden just had an opening statement that's somewhat in line with First Lady behaviors.
It really was just a small talk on public health. And there's a video recording!
All of the media outlets make sensationalist headlines, so it's important for everyone to "Don't Trust, Verify", especially with headlines. I also highly recommend @polymarket since it's my new "front page" for news.
https://www.c-span.org/video/?538586-1/president-biden-holds-cabinet-meeting
I was listening to my typical finance podcasts today, and in one of them the speaker made the point that Jill Biden was a chair on the last Cabinet meeting, leading to some remarks about how Jill appears to be leading the country.
If you search for news post on the meeting, there's a ton of headlines that seem to suggest "Jill Biden is running the country" and that it's a travesty that no one is talking about it.
What was interesting is, if you do a search on the exact meeting, Biden was there, and Jill Biden just had an opening statement that's somewhat in line with First Lady behaviors.
It really was just a small talk on public health. And there's a video recording!
All of the media outlets make sensationalist headlines, so it's important for everyone to "Don't Trust, Verify", especially with headlines. I also highly recommend @polymarket since it's my new "front page" for news.
https://www.c-span.org/video/?538586-1/president-biden-holds-cabinet-meeting
Now that I'm back to working, it has forced me to actually automate some of the consolidations with browser automations to save time.
Absolutely not clean, but turns my data hunting and cleaning from a 45 minute process to a 4 minute process.
https://github.com/jfarid27/defi-analytics
Absolutely not clean, but turns my data hunting and cleaning from a 45 minute process to a 4 minute process.
https://github.com/jfarid27/defi-analytics
/cryptobanking updates: Lending
Spot lending rates continue to go down on majors after the FED cut this week. This is a clear difference in futures, which screams to me that the futures market is likely driven by points speculation at this point and not rate expectations on crypto markets.
Not much interesting here except its cheap to borrow.
Oh and GHO still has stupidly high interest rates.
Spot lending rates continue to go down on majors after the FED cut this week. This is a clear difference in futures, which screams to me that the futures market is likely driven by points speculation at this point and not rate expectations on crypto markets.
Not much interesting here except its cheap to borrow.
Oh and GHO still has stupidly high interest rates.
/cryptobanking updates: Futures
As details around Token 2049 come out, one thing I've heard is many cryptobanks will be keeping rates high as they not only give underlying yield, but additional revenues back to users. They clearly want to compete for market share, so if they have cashflow and can pay out over market rates, they will do it. Paypal's PYUSD, Circle's USDC, and other more traditional stables all are doing this in various ways or have plans to.
What will be interesting to see is how more decentralized cryptobanks like Sky (DAI), Frax, and the newcomer @usual continue to compete. They have a bit more regulatory arbitrage to give yields back to holders.
We're seeing a bit of this play out in rate swaps as DAI, USDC, USDT, and USD0 all have much higher rates than the Fed. Usual and Ethena are leading, but in general it seems like the market doesn't think rates are going down on cryptobank stables.
As details around Token 2049 come out, one thing I've heard is many cryptobanks will be keeping rates high as they not only give underlying yield, but additional revenues back to users. They clearly want to compete for market share, so if they have cashflow and can pay out over market rates, they will do it. Paypal's PYUSD, Circle's USDC, and other more traditional stables all are doing this in various ways or have plans to.
What will be interesting to see is how more decentralized cryptobanks like Sky (DAI), Frax, and the newcomer @usual continue to compete. They have a bit more regulatory arbitrage to give yields back to holders.
We're seeing a bit of this play out in rate swaps as DAI, USDC, USDT, and USD0 all have much higher rates than the Fed. Usual and Ethena are leading, but in general it seems like the market doesn't think rates are going down on cryptobank stables.
/cryptobanking updates: Stablecoins
DAI has completely cleared USDe by around $500M.
As the points program is winding down and many people seem to have not met criteria, we're seeing a larger gap between Dai and USDe's Market Caps.
I'm actually very interested in seeing if FRAX can surpass USDe at this point, and am also interested in Usual Money's USD0 getting on this list soon.
DAI has completely cleared USDe by around $500M.
As the points program is winding down and many people seem to have not met criteria, we're seeing a larger gap between Dai and USDe's Market Caps.
I'm actually very interested in seeing if FRAX can surpass USDe at this point, and am also interested in Usual Money's USD0 getting on this list soon.