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Rune
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Rune
@RuneKek
Cofounder of Sky (fka MakerDAO) https://t.co/eacQrQvSku @SkyEcosystem
Denmark Katılım Ekim 2011
776 Takip Edilen58.8K Takipçiler
Rune retweetledi
Rune retweetledi
1. Delta neutral strategies are exhausted
2. Just pivot to Sky
Stable Summit 🦫@stable_summit
Yield-bearing stablecoins grew fast, but so did the risks underneath. Piotr Saczuk (@stablecoin_p) from @stablewatchHQ on a year of tokenized strategies and what actually broke. From 200% growth to $2.5B wipeouts, why monitoring and risk visibility are still missing:
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If you told me this is where Sky would be at just a year and a half out from launch I wouldn’t have believed you, and the craziest part is that this is still pre-inflection point, things are about to accelerate so much more
Sky@SkyEcosystem
A big week for Sky Ecosystem. A public company is building around SKY. Sky Ecosystem has a new home. The Sky Agent Network just expanded. Here is what happened ↓
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Short and informative video on Grove, the second major Sky Agent after Spark that has a lot of interesting stuff coming out in the next few months!
Grove Finance@grovedotfinance
Grove Field Notes with @AesPoker. The lines between DeFi and CeFi are slowly blurring as onchain capital flows into real world assets. Grove is the star making that convergence scalable, governed, and compliant.
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Rune retweetledi
@RuneKek How can I send it to you? It is a private publication (in Dutch, so I will have it translated)
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Or you can get 3.75% on sUSDS backed by USDC, and tokenized assets by blackrock, Janus Henderson, BNY Mellon…
Wazz@WazzCrypto
The Defi dream is dead I can get 3.14% APY basically risk free on one of the best tradfi brokers Or I can risk 100% to make 2.13%-3.5% on some of the "most secure" Defi protocols You're not even getting paid for the risk anymore on the yield ur just being retarded
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Rune retweetledi
USDAI has been selected as part of Obex's inaugural cohort of 8 projects receiving up to $1B in capital deployment from the @SkyEcosystem administered by @FrameworkVC.
We're joining Maple, Securitize, Centrifuge, Daylight, and others bringing institutional-scale yield onchain.
Obex@obexincubator
1/ Today we're unveiling Obex's inaugural cohort. 8 projects to join the Sky Ecosystem. $1B in capital deployment begins today. Meet Cohort 1: Maple | Securitize | Centrifuge | Daylight | USDAI | Better | River | TVL Capital 🧵👇
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Rune retweetledi
JUST IN: Obex, incubator by @hiFramework and backed by a $2.5 billion mandate from the @SkyEcosystem, shared its first 8 project cohort:
- @maplefinance
- @USDai_Official
- @daylightenergy
- @Centrifuge
- @Securitize
- @RiverFND
- @TVLCap
- @tinmanAI
$1 billion will be deployed across these companies and @parkeraedwards explains in an exclusive pod on @_TalkingTokens how Obex plans to grow USDS and be the bridge to access onchain liquidity.
Full episode below:
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Rune retweetledi
EXCLUSIVE: @obexincubator is deploying $1B in real world assets to bring yield to @SkyEcosystem's USDS stablecoin.
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Cohort 1 of new Sky Agents coming from Obex is a game changer for Sky
These agents will showcase the power of the Sky Agent Framework: parallel scaling and innovation at the edges of the ecosystem, while the core can stay stable, reliable and focused on risk management
Obex@obexincubator
1/ Today we're unveiling Obex's inaugural cohort. 8 projects to join the Sky Ecosystem. $1B in capital deployment begins today. Meet Cohort 1: Maple | Securitize | Centrifuge | Daylight | USDAI | Better | River | TVL Capital 🧵👇
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Rune retweetledi
Stablecoin supply growth is accelerating.
I've ranked them by 30-day mint volume:
1. @SkyEcosystem: DAI – $40.2B
2. @circle: USDC – $35.3B
3. @SkyEcosystem: USDS – $18.2B
4. @SkyEcosystem: sUSDS – $13.9B
5. @tether: USDT0 – $2.9B
6. @usddio: USDD – $2.8B
7. @Paxos + @PayPal: PYUSD – $1.5B
8. @circle: USYC – $1.5B
9. @tether: USDT – $1.1B
10. @maplefinance: syrupUSDT – $962M
The established names still dominate total supply, but new demand is diversifying.
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Rune retweetledi
Sam MacPherson from Phoenix Labs explains the wholesale credit model in terms any capital allocator understands.
Cost of capital: ~4.05% (borrow rate from Sky).
Deployment venues: DeFi lending, CeFi OTC (Anchorage Digital), CeDeFi prime brokerage (Spark Prime).
Revenue: net interest margin on everything above 4%.
Peak performance: $3B deployed, ~$80M/year.
"Any spread that we're able to generate within the entire ecosystem, Spark retains the earnings."
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They are not undercollateralized, on the contrary they hold the full amount of the debt plus additional risk capital which absorbs first losses that could occur from volatility (in e.g. CLOs) or bad liquidations (for crypto lending) - This is also how banks manage their balance sheets. You can see how much excess risk capital they have here: info.skyeco.com/required-risk-…
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My main issue with @SkyEcosystem is this.
Not the overall strategy but the fact that Star/Sky agent/subDAO part are undercollaterized borrower of $USDS (or reserve $USDC).
They are incentivized to take more risk in order to generate more revenue, especially when competing with each other, a dynamic that we can also see in the curator model.
If they blow up at some point, there is apparently some capital that can be obtained, but it is not clear how much collaterization it represents.
And what is the control of @SkyEcosystem over @sparkdotfi or @grovedotfinance allocation? How can it judge if it is too risky and they should avoid lending more to them or even reduce it?
If Sky can do this, then it could likely allocate directly to it.
Sky@SkyEcosystem
On top of this infrastructure sits the Sky Agent Network. Sky Agents such as @sparkdotfi, @grovedotfinance, @keel_fi, and @obexincubator are independent capital allocators that compete to borrow USDS from Sky Protocol to deploy into sophisticated yield strategies. By competing to source the best risk-adjusted returns, the Sky Agent Network diversifies Sky Protocol's sources of revenue, which informs the Sky Savings Rate.
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Rune retweetledi
Sky Ecosystem has a new home: skyeco.com
A global savings and capital allocation network backed by billions in diversified assets.
All powering the Sky Savings Rate, engineered for the best risk-adjusted yield.
Here’s what Sky Ecosystem is and how it works ↓
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This is terrifying. Wtf is going on in the west???
arctotherium@arctotherium42
The US shipbuilding workforce is huge (~120,000 people), of similar size to Japan (140,000) or South Korea (180,000), both of which produce literally hundreds of times more ship.
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Recommend reading this to understand the underlying assets and risk of Sky’s USDS and how it generates scalable 3.75% risk adjusted returns
Vadym@vadymnx
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Rune retweetledi
NovaBay Pharma@StableDev
NovaBay Pharmaceuticals (NYSE American: NBY) is becoming Stablecoin Development Corporation (NYSE American: SDEV). We're changing our name and ticker to reflect what we're building: the premier public market vehicle for exposure to the stablecoin economy. Since closing a ~$134M private placement in January 2026 with R01 Fund LP, @hiFramework , @tether , and the Sky Frontier Foundation, we've accumulated over 2 billion SKY tokens (~8.78% of total supply) and begun generating staking rewards through the @SkyEcosystem Protocol. Trading under SDEV begins April 3, 2026.
ZXX
Institutional finance is a major driver of the growth of Sky and USDS
A public company like SDEV supporting Sky Ecosystem and accumulating SKY will significantly accelerate the adoption and integration of Sky and institutional finance
NovaBay Pharma@StableDev
NovaBay Pharmaceuticals (NYSE American: NBY) is becoming Stablecoin Development Corporation (NYSE American: SDEV). We're changing our name and ticker to reflect what we're building: the premier public market vehicle for exposure to the stablecoin economy. Since closing a ~$134M private placement in January 2026 with R01 Fund LP, @hiFramework , @tether , and the Sky Frontier Foundation, we've accumulated over 2 billion SKY tokens (~8.78% of total supply) and begun generating staking rewards through the @SkyEcosystem Protocol. Trading under SDEV begins April 3, 2026.
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I'm in the process of withdrawing everything from defi
You can only dodge so many bullets before you get one to the head
Yield options consist of:
- below tbill rates in places that can be hacked for total capital loss
- vaults run by "curators" who make millions in fees but have the risk management of a toddler
- offchain blackbox protocols that lend to GPUs, reinsurance, HELOCS, beanie babies, or whatever the fuck else for 10-20% max looped and you have to underwrite it's not completely fraudulent
airdrops are cooked because everyone has learned tokens are completely worthless which means crypto as a money game is deader than dead right now
protect your money and your sanity
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