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Introducing: hibaUSD hibaUSD is the first position dynamic Shift vault. It leverages @hibachi_xyz and @Lighter_xyz to open and close positions on different pairs (limited to the ones with more Open Interest on Hibachi) to perform funding and price arbitrages. Other than the base APY, hibaUSD attributes: - 1x Lighter S3 Points (distributed upon release) - 1.3x to 2x Hibachi Points (with a base of +30% bonus minimum) hibaUSD accepts deposits via USDT0 on Arbitrum. The vault's mandate is to stay delta neutral, with a targeted 1x leverage and rationally produce volume, whenever it makes sense. This is the first Shift vault in partnership with Hibachi. Hibachi is an up and coming Perp DEX, planning to lean heavily on Forex leveraging via Circle's Arc. This has the potential to unlock many more strategies (i.e. forex carry trades) for Shift users in the future. Due to the experimental nature of the vault (the first dynamic vault) and the limited Open Interest on the platforms involved, the vault is starting with a limited cap at $250K. Pre-deposits are going live NOW. Funds will start accruing yield as soon as the funds are deployed, after the cap is reached or after 24 hours from the release. Full deposits regime (including withdrawals) are going live one week after deployment (next week). In the last trial week, hibaUSD performed with an outstanding 47% APY, but we expect the APY post-deployment during normal weeks to be much lower.





I am seeing this myth being spread around that the core development team of Aave left. This is indeed false. While Aave labs built V3 up to the 3.0.1 and bgd took over the progressive updates till 3.6, Labs has been independently security reviewing every single V3 iteration that was released, sometimes providing feedback to bgd or finding bugs. While the code was developed by bgd, Labs team still has excellent proficiency with it. The team lead @miguelmtzinf has been developing Aave as a core contributor since Aave V2 and his knowledge is second to none. Additionally, V3 is at the end of its development cycle and requires basically no upgrades, so the only focus will be threat monitoring, which again we have always been doing. All new features and protocol extensions that are planned will be built on Aave V4 because the V4 infrastructure enables them. BGD has no contributions to V4, therefore the development is in pretty strong shape.

The protocol works. Here’s what did not. My honest account of the last 18 months at @eulerfinance euler.finance/blog/euler-q1-…



Why isn't it the norm to have rate limited minting/withdrawal for large vaults/bridges? Or time delays for admin actions? The Resolv issue could have been almost completely mitigated. We've had to relearn this lesson so many times.





