getn0nce
1.3K posts
getn0nce retweetledi
getn0nce retweetledi
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getn0nce retweetledi
My crypto friends are all trading Korean stocks at 11pm on a Sunday
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@SMtrades_ latter, money printer turns on this week. his exec cost is gonna be 81-83k
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Omega automatics from the 1950s are accurate, cheap, and very pleasing. If you want an old watch that will make you happy, it's hard to think of a safer bet.
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this is like having michelangelo paint you a custom portrait of whatever you want
Wut@Groowut
Do you want your very own 1/1 fwog? Designed by you, created by me How does it work? - Grab a Pond NFT on Solana - Send me your designs - I then update the metadata on chain This is for anyone interested in a customized pond pfp from a 100 1/1 collection on solana.
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@cuntycakes123 the tokens that enable looping pushed for this, otherwise their product growth is stunted. everyone pays the price during socialized losses
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Aave reducing slope2 seems really bad. Now liquidity providers are essentially trapped and not being rewarded for propping up the entire app in order to protect the degen loopers. This was entirely in the risk profile of the degens, yields are much higher because you take on much more downside risk in events like this.
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This is the right answer
rsETH on ethereum is fully backed
Now kelp should enable withdraws, and aave unfreeze so an orderly unwind can happen and trapped eth can flow freely
Meanwhile compensation plan, rca, etc. should be focused on the bridge
No need to brick the entire defi financial system for weeks
Aave@aave
Update on rsETH incident: According to our analysis, rsETH on Ethereum mainnet is fully backed. Out of an abundance of caution, rsETH remains frozen across Aave V3 and V4 and exposure to the incident is capped. WETH reserves also remain frozen across affected markets including Ethereum, Arbitrum, Base, Mantle, and Linea. Aave is actively validating information and assessing potential resolutions.
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You and your friend give mainnet eth to kelp, they stake it and give you rseth as a claim token for your eth + ongoing yields
You decide to keep your rseth
Your friend decides to deposit into a bridge and get another claim token on a different chain to his rseth in the bridge
The bridge contract has its rseth which backs your friends bridged tokens stolen
Should you get a haircut despite not being deposited in the bridge? Or should your friend take all the losses as he knew he was exposed to the bridge risk by using it?
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@sqalef this looks to be the right take. all L2 rsETH is probably worthless, however kelpdao still has all of the underlying eth
DCF GOD@dcfgod
Yeah this is right Basically all the rseth in layerzero was stolen But it’s all 100% backed But it doesn’t belong to kelp or layerzero It’s the rseth from users using the layerzero bridge So now is this a loss that all rseth holders have to carry or just the bridge users Rn it’s aave with the most pain since their eth got borrowed out
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seems like the industry is what is going to give
Mippo 🟪@MikeIppolito_
$290M KelpDAO exploit happening. That's $500M in DeFi exploits in the last month. Something's gotta give, this isn't sustainable.
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