Mr. Dwight Snoot
2.2K posts
@llamaonthebrink "Umbrella stakers on mainnet by definition did not sign up to cover losses from another chain."
Your own quote says they signed up to cover bad debt denominated in the token on that chain regardless of the source of the losses.
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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💔
Spreek@spreekaway
@unhappyben if i understand their claim in my replies, it was more that they were unsure if umbrella would be fully sufficient / necessary. i certainly hope they don't make the decision to not use the junior tranche to cover losses from the senior tranche.
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Almost 5 hours since Globex trading resumed and NYMEX still isn’t broadcasting oil futures quotes and volumes
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JustDario 🏊♂️@DarioCpx
3 hours since Globex trading resumed, and the NYMEX isn't broadcasting official quotes and trading volumes on oil contracts still
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@NoLimitGains Yes in the next few weeks it will keep jumping up and down and you will keep saying do you know what that means. Same thing as last few weeks.
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@BankXRP @xtina_george Thought you meant Watertown New York upstate. Adirondacks are awesome too
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HSBC and Standard Chartered have become embroiled in allegations of a multimillion-pound scheme to launder money for Iran- The Telegraph
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Sixteen years ago today, when I was sixteen years old, I lost my dad to suicide. Tomorrow will mark the first day of my life where I’ve lived longer without my dad than I did with him. Half a lifetime later I am still figuring out how to grieve.
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@xrpmickle sir posting these exciting wall papers and shaping repetitive narratives everyday, diminishes your reputation as knowledgeable influencers!! May be once a week is respectable . 🧞♂️
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Yeni doğum yapan bir pitbull, yavrularına yaklaşan sahibine karşı korumacı davranarak uyarılarda bulundu.
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@washghost1 Oh the smell of those little cars after you raced them?
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@zerohedge Dwight was right then. We should set up hand DEsanitzation stations
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Ditch The Sanitizer And Exercise Your Immune System zerohedge.com/medical/ditch-…
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@GHufeland @DarioCpx Which accounts in your opinion are solid ?
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@MSnootdwight @DarioCpx Over the past month several posts from axios have been discounted within 24 hours. Appears to function as a carnival barker for trump propaganda to redirect financial markets
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Axios “scoop”, once again, was pure market manipulative fake news. Not me saying this, but Trump himself
JustDario 🏊♂️@DarioCpx
Weeeee here it comes Axios! 🤣 Narrator: it’s a whole parade
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@GHufeland @DarioCpx Why is axios bad? I’m trying to trim the garbage accounts and it’s hard to know which ones are forward seeing and credible
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Bitwise bought 4Million XRP today.
How much did you buy?
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@Cointelegraph @myfriendblondie Nothing about this feels safe or real.
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🔥 HUGE: The S&P 500 hits a new all-time high above 7,000 for the first time in history, adding $6 trillion in market cap in just 12 trading days.
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