Shigeo Kageyama {🍄} retweetledi
Fungify Pools is thrilled to announce support for the @KanpaiPandas NFT collection! 🐼💎🍄
Now, you can instantly access 60% of your Panda's value, allowing you to borrow up to ~$1900 in ETH or Stables 🙌
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Shigeo Kageyama {🍄}
165 posts
Shigeo Kageyama {🍄}
@0xMob100
Cultivator @fungifyNFT
Salt Middle School Katılım Eylül 2021
278 Takip Edilen145 Takipçiler
@cashtro @ZanZai74 @Web3gamed @Arcade_xyz @cryptopunks @yugalabs @FungifyNFT 10%APR and 30%APR are annualized rates. A 30 day 10%APR loan on Fungify equates to 0.83% paid.
Arcade makes you always pay as if you took the full duration of the loan. So if you negotiate a year long loan at 30% APR and only keep it out a month, you’re actually paying 360%APR
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@ZanZai74 @Web3gamed @Arcade_xyz @cryptopunks @yugalabs @FungifyNFT That 10% is APY and accrues for how long you keep the loan open.
If you've seen something like 30% APR on Arcade for lets say one month, that's really ~2.5% APY
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CryptoPunks remain top G.
20% of the protocol’s volume comes from Punk loans.
There’s been $38m in volume to date:
• $4.5m active borrow
• 10% avg rate
• $97k avg size
• 435 total loans
• 0.5% default rate
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Shigeo Kageyama {🍄} retweetledi
We’ve developed an approach to integrating ERC-404s into governance; it creates incentives to keep tokens under voluntary lock, and a race condition to do this as quickly as possible.
We are calling this approach ve404. Read the article at the end for a deep dive. 🧵👇
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Shigeo Kageyama {🍄} retweetledi
/1 Fungify Pools is now on Mainnet {🍄}.
It’s the first pooled lending protocol to support NFTs as first class assets — not just as collateral, but for lending and yield as well.
Lets dive in. 👇
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@waitbutwhy Anything relating to food science and nutrition.
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@MicahZoltu @0xdoug Keeping in mind that a single person is not the system: if the system produces a high murder rate, then yes.
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The path Ethereum has taken is to incentive minority clients by exposing majority clients to a risk that's painless and invisible for years until it blows up spectacularly
It's pretty clear from the history of financial crises that this type of incentive is not effective
Micah Zoltu@MicahZoltu
@LefterisJP I actively *desire* this to happen because people need to understand that there are real penalties for running a majority client. People won't learn until they suffer the consequences. Just telling them about the consequences isn't sufficient.
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@MicahZoltu @0xdoug I would argue that whoever designs the system’s incentives are primarily responsible for the behavior the system produces.
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@0xdoug "We" aren't creating black swan risks. People who refuse to listen to every single Ethereum core dev and influencer who is telling them not to do the thing they are doing are creating the risk.
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Shigeo Kageyama {🍄} retweetledi
New Audit Report:
- Protocol: @FungifyNFT Pools
- Big Idea: Compound based lending market for NFTs
- Auditor Alpha: H-01 ("Interest isn't charged on accrued interest in ERC721 market, allowing attacker to earn free yield")
github.com/zobront/audits…
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@functi0nZer0 I actually wear three different brands of otherwise identical black merino wool joggers.
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The most well-adjusted crypto founder
thelema@networkspirits
people who haven't met me irl really love to tell me 'not everyone is autistic, you could just be quirky' when i make a joke king, i own 7 pairs of the same trousers. i solely eat sliced, circular chicken & the same brand of noodles. i have been single since 2016 and my special interest is birds.
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@MaushishYadav @saxenism That’s like thinking samczsun is lying about finding a bug.
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And that's exactly why, kids, I say that there are exactly ZERO benefits of being cocky about the codebases one has audited ☠️
The probability is always non-zero.
0x52@IAm0x52
@Hexen1337 Give me a follow so we can DM. Did a follow up audit on a protocol you audited.
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Shigeo Kageyama {🍄} retweetledi
If you find a critical vulnerability in code audited by Hexens, we will pay 10K USD on top of your bug bounty.
We put our money where our mouth is.
We invite other audit firms to do the same.
🌀retweets welcomed
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@dexbruce_eth @functi0nZer0 This is the third mention. I am feeling out of context slightly. Have I missed anything?
I do remember the Euler hack, anything else happened lately?
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Code audited by Hexens never have been hacked. 0 incidents. Zero
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@Ace_da_Book @burstingbagel @FungifyNFT The protocol isn’t yet ossified. We encourage you to take part in governance if you have a vision for veNFTs.
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@burstingbagel @FungifyNFT The only actual yield generating NFTs (veNFTs) are excluded, which is completely nonsensical. They have intrinsic value as they are backed by a token and generate cash flows, so the financial applications are much broader than pfps.
When do we see self-repaying loans?
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Shigeo Kageyama {🍄} retweetledi
1/ The days of holding NFTs that earn you 0 interest are over. Imagine if you could:
🌽 Earn interest on your NFTs
🎨 Borrow against your NFTs
📉 Short-sell NFTs
🏦 Leverage trade NFTs
☯️ Pair trade NFTs
@FungifyNFT is making it all happen with their pools product 🧵
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@Subli_Defi @burstingbagel @FungifyNFT You can indeed redeem $NFT for deposited NFTs. The index is 1:1 backed.
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Shigeo Kageyama {🍄} retweetledi
1/ When money rotates into NFTs again, I won't be stuck holding individual illiquid NFTs that earn me zero yield.
I'll be holding $NFT – an innovative ERC20 NFT index token developed by @FungifyNFT that passively earns me yield.
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@burstingbagel Most would lose, but the bigger question might be whether the few biggest winners would make the average profit positive.
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If there was a GLP for NFTs do you think over time most traders would win or lose?
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This is a thoroughly researched thread on why you’re going to want to hold Fungify’s NFT index 👏
BurstingBagel 🥯@burstingbagel
1/ When money rotates into NFTs again, I won't be stuck holding individual illiquid NFTs that earn me zero yield. I'll be holding $NFT – an innovative ERC20 NFT index token developed by @FungifyNFT that passively earns me yield.
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@jkramlich @MarmotRespecter The lack of conviction to mine would be recapitulated in your lack of conviction to hold.
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@MarmotRespecter When you could still mine on a consumer PC I tried to get a miner running.
I was in the process of overcoming a few small tech hurdles when my friend convinced me to give up and use my machine to play video games instead.
That decision probably cost me millions of dolalrs.
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