James
689 posts
James
@_OrgChaos
Head of Ethena Foundation (@EthenaFndtn) | If you can’t measure it, you can’t improve it | Opinions expressed are my own.
Katılım Temmuz 2010
1.1K Takip Edilen2.1K Takipçiler
James retweetledi
USDe reserves are evolving: reducing concentration and building resilience across market cycles with a diversified collateral base.
Four additions to the collateral backing are detailed below for consideration by the risk committee, each a natural extension of existing Ethena allocations:
→ Overcollateralised institutional lending
→ High quality liquid RWAs beyond TBills
→ Equity & commodity basis exposure
→ Prime lending
Read more below on proposed updates:
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James retweetledi
Since 10/10 Ethena was poorly positioned for what has been a material regime change.
In the last few months we have been building out the infrastructure to securely access alternate sources of safe and scalable collateral to better position the business for these periods of downturn.
This is an important piece of work which should have been done a long while ago, but now positions USDe backing to experience less rate volatility during periods of suppressed crypto native interest rates.
Going forward, once approved by the independent risk committee, USDe will have access to:
-Basis on non crypto assets including commodities and equities
-Institutional triparty collateralized lending via @coinbase @krakenfx @Anchorage and others
-Prime lending across CeFi and @HyperliquidX
-Liquid high quality non-tbill RWA exposures
Each of the above represent multi-billion capacity opportunities with that will now sit alongside the existing USDe collateral base to improve the product resilience through the cycle.
Ethena@ethena
USDe reserves are evolving: reducing concentration and building resilience across market cycles with a diversified collateral base. Four additions to the collateral backing are detailed below for consideration by the risk committee, each a natural extension of existing Ethena allocations: → Overcollateralised institutional lending → High quality liquid RWAs beyond TBills → Equity & commodity basis exposure → Prime lending Read more below on proposed updates:
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James retweetledi
James retweetledi
Today, @aave announced the launch of Aave V4.
Ethena will have a dedicated ecosystem environment at launch with two Spokes, the most of any individual ecosystem. sUSDe, USDe, PT-sUSDe, and PT-USDe supported as collateral.
Aavethena 👻
Aave@aave
Aave V4 is now live on @ethereum.
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Hello Officer, I’d like to report a murder.
toly 🇺🇸@toly
@CAgovernor 2 miles of California high speed rail?
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James retweetledi
FTX first popularised the USDT-USD perpetual where traders could bet against the solvency of USDT.
On the other side, those who were long consistently collected 10%+ APY on funding from the naive truthers betting on the downfall of Tether.
@felixprotocol has launched the first USDe perpetual where you can now do the same.
Felix@felixprotocol
USDE-USDH perp is now live to trade on Felix The starting parameters of the market are the following: >Starting max leverage is 20x >Starting OI cap is set at $7.5M >Pricing follows the specification in the docs below Trade here: trade.usefelix.xyz/flx:USDE Docs can be viewed here: usefelix.gitbook.io/docs/felix-per…
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James retweetledi
James retweetledi
Ethena has no ADL "deals". Never has. ADL risk has been in the risk section of our docs since day one:
docs.ethena.fi/solution-overv…
ADL implementation varies by exchange, but generally follow a similar waterfall of applying ADL to accounts with the:
i) highest leverage
ii) highest roe/ unrealised pnl
In contrast to others, Ethena sweeps pnl daily and runs zero leverage.
It is therefore considered one of the lowest risk accounts on the exchange and sits at the bottom of the ADL waterfall as a result.
As far as we are aware, there have not been any ADLs on BTC or ETH on the venues Ethena executes since 2018 on OKX. The vast majority of the backing sits in BTC and ETH on venues with a 8yr+ track record of not applying ADL to these assets, including on 10/10.
Ethena has no special ADL deals, just basic risk management.
venture anthropologist@0xBalloonLover
it is borderline criminal that ethena's no-ADL deals aren't public one should never trade on an exchange where some market participants have undisclosed advantages over others
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@austinahlman People that have never built shit, telling people that have built shit, to let other people that have never built shit, run their shit.
Make it make sense.
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Preventing two guys who own 6% of the stock from perpetually controlling the board of the most powerful corporation in history is good, actually.
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Engagement bait.
Modern browsers (chrome, brave) check that SSL cert is valid for the given domain.
Even if wifi is MITM, your browser will complain that the site is trying to serve a fake cert.
If there was a redirect attack, Phantom should warn you about an unverified domain.
So unless you completely ignored the giant red warning beside the domain, or you went to a jup impersonation domain and Phantom missed it completely, you should be fine.
The Smart Ape 🔥@the_smart_ape
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James retweetledi
latent markets + yield bearing collateral will prove to be one of the best ways to scale USDe in 2026
h/t to @asxn_r for the data
HyENA@hyenatrade
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Possibly the best thing on the internet today.
Autism Capital 🧩@AutismCapital
It's beautiful!! 😂👏
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@SquishyAvo @financedystop Put it all in a Trust, no one owns anything, they are just beneficiaries of the Trust. That will protect it from any bad actors and help optimise any liabilities.
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@financedystop Just be careful to draw up clear paperwork for when kids spouses get divorced or boy/girlfriends decide toove in but steal have drug issues and won't leave.
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Families are buying one piece of land and building small homes for kids, grandkids, and grandparents. It’s already happening in America.
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6500mph vs 17500mph only thing going to outer space is your imagination 🤔
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@Joe__Bassey how's about go fuck yourself you racist piece of shit.
Many of our ancestors came here as settlers, built business, and built this nation from a pile of rocks and dirt, wtf have you ever done.
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They won't teach you this in school: that their ancestors arrived as criminals, paedophiles, thieves, and especially convicts transported by ship from Britain and other European countries (1788–1868). They committed a series of genocides against the original inhabitants of the land.
Uncommon Sense@Uncommonsince76
White Australia looks like heaven.( 🇦🇺 1966)
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