ermin

It is with profound sadness that we announce the unexpected passing of Nathan Allman, Ondo's founder. Our hearts are with his family and loved ones. Nate’s brilliance, humility, and drive shaped every part of what Ondo is today. His belief in the power of technology to create a more open, accessible financial system lives on in everything we build. The impact he had on this industry, and on all of us personally, cannot be overstated. Nate also helped us build a durable organization with experienced leaders across all facets of the business. Ian De Bode, Ondo Finance’s longtime President, will serve as CEO. Ian has been leading our strategy, product, and day-to-day operations for over two years and has the full confidence of the leadership team. We will continue building what Nate started. That is the most meaningful way we know to honor him.

@torosfinance 💪

$2.6B in RWA fees fund HYPE buybacks. HYPEBULL 2X is +35% this week. More volume, more fees, more HYPE bought

@DeFi_Dad Are some people using their position at the EF as a stepping stone to other opportunities? A bit like how government workers leave to work in private industry for more money

It is normal for people to leave orgs like the EF, with a change of leadership/management. Does it suck to lose good people? Yes! But, it can be both normal and a sign of some shakeup. There's always something to seeing good people leave. They didn't leave cuz everything was perfect right? What about people who quit Google? Google has held a reputation for being one of the highest paid, best workplaces, at least in years past. And yet, great people continue to quit their jobs there. I'm not comparing EF to Google but you get the point. I left ConsenSys in 2020 to work at Zapper--it was the most obvious strategic move for me. I survived layoffs 4 times in 2 years. I felt drawn to DeFi in summer 2020. I didn't wanna work on lots of projects supported there anymore because we were transitioning from "is DeFi a play thing?" to being the crown jewel of Ethereum. In retrospect, everyone who told me to stay and that I was going to miss great opportunity there, they were both right and wrong in some sense. I just saw my own path, new incentives, and new interests outside my job. I had a great job too. Loved it! I could have grown a lot more there, but I wanted to move on. So was everything perfect at ConsenSys when I left? Or was it all a mess and me leaving was a sign of the company going to shit? Neither, I was just one of 500+ employees carving my own path. I left on very positive terms, while also had some disagreements, and net-net, I have great memories, surviving the worst period of the bear market 2018-2020. It all led me to being a highly productive contributor to Ethereum outside of ConsenSys, which was back in the day, the true BD/marketing/product arm of EF. Back to EF, I have been personally shocked how long a few people stayed there, given all the opportunity in this industry/ecosystem. I have been highly critical at times in years past of how they operated and been extremely delighted with the change Tomasz brought, also extremely disappointed Tomasz didn't stay longer. Clearly, some of these long term employees of EF have passed up lots of chances to work with high growth teams with unimaginable upside. It has to have been painful in certain instances but whatever kept them in their role, must run deep. So it is good for these people to leave whenever they want, to find new roles that suit them, to work in different orgs, and find real purpose that fulfills them. It just sucks though to lose good people, and it sucks even more to lose them to competitors. So if great people from EF like @dannyryan who's now a CoFounder of @Etherealize_io can find impactful roles elsewhere within Ethereum or Ethereum-powered projects, I couldn't be happier for them. Just don't lose your minds overthinking it all, upon the announcement of someone's exit. Best to wait and see what's next for them. And it's not on EF to report why people leave, where they're headed etc. It's on the person if they can and if they want to share more. Speaking from experience, I had real frustrations, it wasn't all roses when I left ConsenSys and Zapper, but that's because I cared so damn much and I have strong opinions. I can imagine anyone leaving EF has similar mixed feelings. You are so much better to focus on the positive ahead, and find ways to keep working with people you don't always see eye-to-eye with.

@kermankohli @Zeb_dyor Yeah idk man, hardware profits will probably compress just like they did in dotcom. Anthropic, openai are still not profitable. I'm not a bear, just saying. It's human nature to overheat on things like this

@_ermin @Zeb_dyor revenue != earnings though. look back at historical earnings of these companies and the p/e ratios they were trading at. you're looking at north of 100x (some ai names are but others like nvidia/memory aren't)

i like seeing posts like this now because it lets me know i have a counterparty that can fund my bull thesis.

@kermankohli @Zeb_dyor Just like today, the infra companies were the big revenue winners of the dotcom era (IBM, intel, microsoft etc) They all got crushed when it popped. I'm not saying it mirrors, but can't close your eyes to a rhyme. It could also continue going up for years before popping

@_ermin @Zeb_dyor how so? where were the earnings of the companies?

@kermankohli @Zeb_dyor Just playing devil's advocate, you could make the same arguments for the dotcom era

@Zeb_dyor why would it take 5-10 years? it is happening right now in real time. the world is looking so structurally different it's hard to even describe. but this is maybe a different in perspective of life setups?

BTC upside, with a floor underneath Bitcoin Bull Protected 3X now has ~$169k deposit capacity For traders who want leverage without trusting BTC to behave

@taminater02 Yup i just threatened Opus with switching and it became 2x faster

@_ermin Codex?

how am i gonna get anything done today

@torosfinance @merkl_xyz 👀

~40% APY on Toros' delta-neutral LP. ~14% base + ~26% @merkl_xyz rewards. Beats most stablecoin yields right now

40% APY with USDC rewards

@kaiynne Wtf

why does this sound so familiar...

A clean tokenised STRC is great, but An even bigger deal imo is proxy voting. When you buy a Blackrock ETF, you don't get to vote on decisions of the underlying companies. Blackrock does. On chain stocks are not only more accessible but also give governance to token holders 🤯

@euler_mab @hosseeb Yeah makes sense. Hopefully better products will win over time

@_ermin @hosseeb There’s zero incentive to make these practices public unless you’re willing to go to court over it, and doing that is something I don’t think anyone really has the energy or money to do.

The funny thing is that DeFi is anything but united behind the scenes. It’s ruthlessly anti-competitive.

@euler_mab @hosseeb Anything you can share? Backdoor deals where competitor lenders get a boost if they don't supply on Euler or something else? I naively think it's good to get this stuff in the open as much as possible

@_ermin @hosseeb No no I meant exactly what I said. Anti-competitive behind the scenes mean people use practices which might be considered as breaking antitrust type laws.

@hosseeb @euler_mab Yeah he probably meant ruthlessly competitive Also imo defi is nowhere near as competitive as some other industries. Probably because most can see value in growing the pie with others

@euler_mab Isn't being united behind the scenes a sign of being anti-competitive?

@torosfinance @KillaXBT Yup this is the trade

@KillaXBT If BTC chops for another 3-4 months, the trade is not just guessing direction Toros BTC Short Volatility is built for that kind of market

$BTC As volatility adjusts, market cycles are likely to become progressively flatter. We’ve already seen signs of this, (with the overheated bull market failing to reach previous extremes.) That said, we’ve only just entered the lower end of the range (blue), and history shows that even with reduced volatility, bottoms tend to take longer to form. My view is that we still have another 3–4 months of sideways movement before any reliable bottom signal appears.

Quiet markets are not useless markets bitcoin:native can chop sideways Traders lose interest Premiums and funding keep moving Bitcoin Bear Volatility is showing 29.22% funding APY right now