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Dick Danger
44 posts
Dick Danger
@0xMithridates
Philosopher-King of the mempool.
Katılım Ekim 2021
135 Takip Edilen72 Takipçiler
let dis be forever etched into the smolchain ^-^
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Ethena is a less decentralized version of UXD - which has been using this mechanism for years.
Crazy how much hype CT can give a mechanism when you slap it with alignment and a couple extra percent APY from LSTs vs. native collateral
cc @txsequencer @0xBalloonLover
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@CometShock Fully agree, the value of ETH stake decreases as the value of the native token increases and the validator set has already been bootstrapped.
This has implications on the ability for the restaking protocol to capture value IMO. Fees on native token staking rewards won't be taken
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the fastest growth restaking protocols will issue validator rewards in their native tokens, not ETH
some will enable additive restaking by using the same staked collateral over multiple services
for others, add a Liquid Restaking Token, borrow against it, restake some more...
☄️⚡@CometShock
1 year later, and restaking rehypothecation is still one of my top candidates for a coming hype cycle ending in a lot of carnage (Ignore the first sentence of the QT)
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.@ledgerstatus the type of guy to be the youngest to die of old age
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@Pametabonocato1 @DdubeXD @chickenlegzz0x @KiruaZo93973197 @Jays_crypt @Sallysele @Vanessaforr @nft_dk @marioarranzr @Bruh0xEth @mvillaesau @marcomendonca_ Why’d you tag me
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@CometShock @0xtowncrier @0xzuberg @chainlink @eigencloud Would love a source if you have one. That might be the case initially, but I don’t recall him saying that
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@0xMithridates @0xtowncrier @0xzuberg @chainlink @eigencloud Correct me if I'm wrong, but didn't Sreeram say somewhere that you'll only be able to restake once with Eigenlayer?
If they succeed I'm still wary about crypto's tendency when restricted to build external repeated rehypothecation protocols and inject that risk tho
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@0xtowncrier @Sinbua1 @chainlink @eigencloud Lol at link marines regurgitating the same talking points. Agree with your response. Also find it funny your name is Town Crier but haven’t dug into DECO 😅
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@0xtowncrier @0xzuberg @chainlink @eigencloud That being said, something like @switchboardxyz should absolutely be built on top of EigenLayr IMO. They won’t be able to surmount the economic stake cold start problem otherwise
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@0xtowncrier @0xzuberg @chainlink @eigencloud I generally agree, but inheriting trust is not so easy. The more restaking you do, they more contagion risk you introduce to your eth stake. These layers will be nascent, take time to audit, and are likely 1.5-2 years out.
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