Jay ꩜
496 posts
@TheRealDanzer
All opinions are my own, especially about Tottenham Spurs | @infiniFi Ops | Former @Centrifuge & @Anemoycapital Ops | Not so new to Vibe coding
Was curious so took a look back at the @aave gov proposal to add rsETH as collateral to v3 market on Ethereum. Maybe the OFT didn’t exist yet idk but the tail risk of the 1/1 DVN config being exploited was not mentioned In fact, apart from a link to Kelp’s high level technical arch, opsec is not really a consideration at all, just market risk factors One other interesting thing to note - the rsETH price feeds are calculated feeds and market feeds (not NAV based), which is typical of LST/LRTs. If they were NAV based, liquidations would’ve started immediately and losses would’ve been socialized already governance.aave.com/t/arfc-add-rse…
I love Xavi, I really do but doing all that with 15 mins left to play, in a relegation battle… Thoughts?
15 minutes doesn't reflect your ability as a goalkeeper, especially for a 22 year old debutant in the Champions League away to a massive club. I've always rated Antonin Kinsky & I still do. I'm still confident he'll have a successful career, whether it be at Tottenham or elsewhere. More importantly he's got the right people around him in moments like this, his father was also a goalkeeper (& a good one at that). He more than anyone else will know what to say & how to comfort his son as he's likely been there, maybe not to that extent but he definitely would've faced some difficult moments in his career. Spurs' goalkeeping coach Fabian Otte has already come out showing his support for Kinsky, as has David De Gea. Words from people as important as them will be a million times more valuable than someone on twitter with 500 followers looking to take the piss.
Since yesterday’s fixture against Brighton, which took place during the Premier League’s No Room For Racism weekend, Kevin Danso has been, and continues to be, subject to significant and abhorrent racist abuse on social media. There is no place for racism at Tottenham Hotspur. There is no place for racism in football. Read our statement: thfc.pro/4sIGXdY
It might not be that simple though. According to Aave docs, the junior tranche, aka Umbrella depositors, are supposed to strictly be exposed to the chain they are staking on. That means that an aWETH Umbrella staker on Ethereum mainnet shouldn’t be punished for an unbacked LRT on other chains. The issue is that Aave has no control over how KelpDAO decides to handle the loss. Technically Aave V3 on mainnet is fully collateralized because rsETH on mainnet is fully collateralized. It’s Aave V3 on Arbitrum that technically has bad debt. In a sense I sympathize with the view that the bridged rsETH should bear the brunt of this exploit. Umbrella stakers on mainnet by definition did not sign up to cover losses from another chain. I’m honestly so saddened by this situation. There’s a longtime DeFi user in my DMs who’s suffering as a result of this exploit, and it really breaks my heart💔
🧵 Let's look at how many DVNs are required for your stablecoins or liquid restaked ETH assets that bridge using LayerZero. We learned Kelp only used LayerZero Labs as their 1/1 required DVN. It would also be relevant who the DVNs used are but we'll focus on just count for now.
