Joselo

"Dadme un sistema económico de verdadera meritocracia y sin privilegios y defenderé el libre mercado hasta la muerte"... o algo así. - Yo

@Main_St_Finance Selling boxes to generate real USDC is the one action that would prove the marks are real. Declining to do it also happens to be exactly what you'd do if you couldn't sell them anywhere near the claimed value. The reluctance to realize value is itself a data point.

msY Portfolio & Redemption Update We want to provide a clear update on the current msY portfolio, the remaining box-spread maturity profile, and the path forward for restoring liquidity to the minter. As previously communicated, the msY box-spread strategy began approaching capacity in its original short-duration Deribit execution environment. In response, Main Street expanded execution across additional centralized venues and OTC box-spread counterparties in order to continue optimizing risk-adjusted yield for holders and avoid forcing new capital into increasingly compressed shorter-dated opportunities. As part of that expansion, certain OTC box-spread opportunities were executed at longer maturities than the initial short-duration target range. Following the unwind of the shortest-dated and most liquid positions during the initial phase of the Morpho market squeeze, the remaining portfolio now consists of boxes with approximately 60 to 340 days remaining to expiry. The remaining book is therefore naturally more concentrated in the medium-to-longer dated part of the maturity ladder, because the shortest-dated liquidity was used first to support the minter and reduce near-term pressure. Importantly, this does not change the core economics of the strategy. These are fixed-payoff box-spread positions. If held to expiry, and assuming the relevant venue or counterparty performs, the positions accrete toward their known maturity value. The current situation is therefore primarily one of timing, secondary-market liquidity, and redemption pacing; not a change in the expected terminal payoff of the portfolio. Current portfolio position: Current CR, assuming boxes are held to expiry: 100.04% Insurance fund: $525,527 in msUSD Insurance fund treatment: if required, the msUSD held in the insurance fund can be burned, increasing protocol coverage Coverage including the insurance fund: above 100% Our priority is to preserve full backing and avoid crystallizing unnecessary losses. We are actively exploring opportunities to unwind or sell selected boxes where executable pricing is available and where, after taking into account the insurance fund and any applicable protection mechanisms, the system remains above 100% coverage. Where that threshold can be met, we intend to take those opportunities and use the proceeds to continue refilling the minter. We do not expect that every remaining box necessarily needs to be held all the way to expiry. As boxes move closer to maturity, the discount between secondary-market pricing and maturity value should naturally compress, which can create further opportunities to exit closer to NAV without impairing coverage. This means liquidity can be restored progressively through a combination of scheduled expiries and selective secondary-market unwinds where pricing is acceptable. Where secondary liquidity is not available on acceptable terms, we will continue following the approach outlined in our risk framework: allow box positions to mature, release liquidity as expiries occur, and refill the minter as capital becomes available. Selling fixed-payoff positions at distressed marks simply to accelerate liquidity would be value-destructive for holders. Waiting for better execution, selectively unwinding where coverage remains above 100%, and using the insurance fund as intended gives the protocol the strongest path to preserve backing and restore liquidity in an orderly way. This is a timing and execution-management issue, and the portfolio remains structured around fixed-payoff positions that accrete toward maturity value. We are confident in the path forward and will continue to provide updates as liquidity is released, boxes are unwound, and the minter is refilled. Our focus remains unchanged: preserve NAV, protect holders, avoid uneconomic liquidations, maintain coverage, and work through the maturity ladder in the most responsible way possible.

@Main_St_Finance This rests on unnamed OTC counterparties at the exact moment your independent verifier walked away. Accountable terminated the relationship. When the auditor quits citing failure and the company says "we're actually fine," the base rate favors the auditor.

@Main_St_Finance Your claim of ~full maturity-value coverage is only reconcilable with that if all the backing sits in illiquid, longer-dated boxes we can't see or touch now. "The money is real, it's just not here, trust us" is both what a solvent-but-illiquid operator and an insolvent one says

@Main_St_Finance This contradicts the independent on-chain data. An analyst's review found roughly $4,000 in redeemable reserves against 74 million tokens after about $4 million of redemptions drained them.

@Main_St_Finance $525,527 against ~$18M trapped in your vault alone is ~3%. Worse, it's denominated in your own depegged token. "Coverage above 100% including the insurance fund" only works because you already assumed ~100% on the boxes; the fund itself moves almost nothing.

@Main_St_Finance 100.04% is razor-thin for "institutional-grade and fully backed" . And it's self-reported, and it assumes hold-to-maturity at full payoff. The market is pricing the opposite: msY collapsed 70–85% and msUSD trades around $0.35.

Llévelo, llévelo antes de que se acabe

¿Quién le habrá hecho creer a Gloria Trevi que era socialmente inaceptable traer el pelo suelto?

@camboue ¿Tienes hijas? Porque tengo aquí a un doctor muy bueno que salva bebés al que le encantaría ir a tocarles el culo.

Roberto Canessa no es un héroe por haber sobrevivido en Los Andes. Es un héroe salva bebés. Ha dedicado su vida a salvar vidas en las situaciones más desesperantes. Adentro y afuera del consultorio , una trayectoria sin manchas. Así que déjense de pavadas, y aprendamos todos a valorarlo.

Este libro es demasiado para mi intelecto, pero mi mujer dice que está cabrón. Se los recomienda. Además, lo escribió mi bebé de amor, el más brillante de mis amigos zurdos, @WilliamBrinkman

@WilliamBrinkman siento que esto te va a gustar

Mis Packers nunca no rompiendo quinielas.

@edelamadrid Libertario =/= liberal

El sistema de segunda vuelta generó una participación mayor al 70% en 🇦🇷#Argentina, resultando ganador un liberal, algo muy distinto a lo visto en agosto. La sociedad argentina está por iniciar una nueva etapa. Mis mejores deseos para que puedan retomar el camino de crecimiento económico, prosperidad y justicia social.

@Fer_Gay Te puedes llevar a uno de los artistas a tu casa.

En los festivales ya existe un VIP dentro de un no tan VIP en donde hay otro VIP que se llama turbo mega PLUS VIP. ¿Qué, a poco ahí te limpian las nalgas cuando vas al baño o qué pedo?

@DanikRM_ Ambientazo en Can Barça

Me da hasta pena el chavalín

@pkumamoto Ya hasta las mismas tácticas rastreras adoptaste. Si el Pedro Kumamoto de hace 5 años viera en lo que te has convertido, se hubiera salido de la política en ese instante.

Mientras la ciudad y el estado pasan por una crisis de inseguridad y violencia, ustedes andan en la selfie y el negocio. Por eso entiendo tu preocupación Pablo, saben que van abajo en las encuestas y no saben qué hacer.

@pkumamoto Qué vergüenza para todos los que creímos que eras distinto a los demás políticos. Resulta que eres igual.

Vamos a construir un gran movimiento de cambio para Jalisco, esta es la decisión que ha tomado la militancia de Futuro de frente a la próxima elección.

¡Es hoy! ¡Es hoy!

@_Benito___ Tampoco sorprende sabiendo la relación histórica entre ese impresentable y el FCB.

El Real Madrid posicionándose a favor de la suspensión d Rubiales. El FCB diciendo q la actuación es desafortunada pero que ya ha pedido perdón. Orgulloso d estar en el lado bueno d la historia. Una vez más

@eltamagochi Rubiales y todas las personas que apllaudieron no nada más deberían dimitir, sino también autoexiliarse a un lugar donde dejen de hacer daño a los demás.