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FireFly
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FireFly
@FireFlyGG
Football fan | @zscdao Member | @Polymarket degen | Interviewing crypto founders
가입일 Mart 2013
935 팔로잉913 팔로워

Stay away from Dolomite's USDC and USD1 farms.
WLFI has very low liquidity even on Binance, yet developers have borrowed about $100 to $200 million in stablecoins using WLFI as collateral. They are also building Merkl to pull in more liquidity. If a WLFI-backed position nears liquidation it may be impossible to close without massive losses for lenders, leaving Dolomite with bad debt. It might not happen and they may find a fix, and the team is reportedly linked to the president and his family, but 10 to 13 percent APR is not worth this risk. DeFi farm is near zero right now and farming looks grim.
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Polymarket is launching PUSD, a native stablecoin fully backed 1:1 by USDC, as part of its CTF Exchange V2 upgrade.
Native PUSD replaces USDC.e and will be collateralized 1:1 with USDC.
Under the hood there are new smart contracts, a rebuilt order book, optimizations for EIP 1271 signatures and developer code updates.
Regular users will see an automatic wrap with a single approval in the UI.
API and bot traders must update SDKs and manually wrap funds via the Collateral Onramp contract.
Migration will take 2 to 3 weeks. A maintenance window will be scheduled and all open orders will be cancelled during it.
PUSD is an infrastructure stablecoin not a governance token. Some expect POLY to follow, but that has not been announced.

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