letsgetonchain

🚨ETHEREUM UX IS ABOUT TO 100X YOU ARE NOT READY 🚨 EIP-7702 is about to be shipped! I explain how it works and go through every line of code in the evm (revm) that changes because of it 🤓 No better way to really understand it!

@_Enoch @litocoen isent aave BUSL liceensed?

@litocoen Fluid is BUSL-licensed. The EF has not been consistent about this being a hard line before, but it is a hard line now.

ngl im starting to be pissed at the EF for blatantly overlooking Fluid again and again not because Morpho doesn’t deserve it (at all!!) but that they rather allocate a second time to a protocol they’ve already allocated tens of millions to before giving a nod of appreciation to one of the fastest growing protocols on Ethereum over the past 2 years screams of incompetence and/or bad judgement these guys embody the values of what makes ethereum special discovered ethereum as teenagers as a way to build permissionless financial applications - before they even had a bak account in their name won ethindia hackathon, got mentored by kyberswap guys, raised some money and scaled instadapp to billions of TVL in defi loans 6 years later the guys are still building and have come up with a completely new primitive (turning lending markets into AMM’s) became the second largest DEX on Ethereum just behind Uniswap and one of the largest money markets which in club does one need to belong to, to get considered by the EF treasury?

Some context on the USD Lite fixed APR design choice We’ve been running the ETH Lite vault for four years, managing billions in AUM, which has given us a strong understanding of user behavior. The ETH Lite vault follows a typical structure where we charge a performance fee. Most of the time, yields are high and users are satisfied, but even a one-day drop in yield tends to trigger user outflows. With fixed rates in the USD Lite vault, we aim to deliver a more consistent experience. When yields exceed the fixed APR, the surplus is retained as reserves. When yields fall below the fixed rate, those reserves are used to cover the difference. This approach ensures a more stable and predictable UX, while also unlocking strong opportunities for integrations with wallets and other distribution channels. Stay Fluid 🌊

@peazyfi @_brizal @re not sure regarding risk curation wrt frxUSD. maybe @_brizal @DeFi_Made_Here can share plans if any regarding frax/fluid

@letsgetonchain @_brizal @re GHO-frxUSD pair will outperform USDC/USDT frxUSD will be in V4 Aave too, and their already report on the assets and risk So i dont see why frxUSD will not be integrated into Fluid in 2026 🙄

Fluid is the only looping RWA platform that allows you to earn yield on your liabilities. For example looping @re with smart debt (USDC-USDT) means trading fees on your debt boost your APY by 2%+ compared to plain USDC or USDT borrowing. That extra 2% APY is based on trading fees earned by USDC-USDT dex pool in the last 24h which was yielding 0.34% APY (on average it is much higher). Last years average trading APY on USDC-USDT pool was at 0.64% APY. That means if you looped you RWA on Fluid last year with USDC-USDT smart debt your APY was enhanced by roughly ~4% APY without incurring any additional risks besides USDC or USDT depegging. Capital efficiency translates to better yields.

@peazyfi @_brizal @re yes, many do stablecoin issuers do that to deepen liquidity cheaply. for those incentivised assets smart debt even more attractive. check out the GHO smart debt pairs for example.

@letsgetonchain @_brizal @re but imagine with frxUSD integrated, smart debt USDC-frxUSD, USDT-frxUSD, Frax can share the underlying t-bills so pool earn at minimum 1.65% APR + trading fees, there thing to explore 👀

@litocoen lmao send me on whatsapp

and also the only lending platform where the issuer can create DEX liquidity for their asset at the same time like here someone (mb RE itself) has created $6m in liquidity by using their reUSD-USDT LP as collateral and borrowing USDT against it started with $1m to make a $6m LP - improving reUSD's onchain liquidity while still earning 15% apy

@al_f4lc0n @immunefi thats fucked up, who are the investors behind them?

I Saved Injective's $500M. They Pay Me $50K. I like hunting bugs on @immunefi . I'm decent at it. - #1 — Attackathon | Stacks - #2 — Attackathon | Stacks II - #1 — Attackathon | XRPL Lending Protocol - 1 Critical and 1 High from bug bounties (not counting this one) Life was good. Then I found a Critical vulnerability in @injective . This vulnerability allowed any user to directly drain any account on the chain. No special permissions needed. Over $500M in on-chain assets were at risk. I reported it through Immunefi. The next day, a mainnet upgrade to fix the bug went to governance vote. The Injective team clearly understood the severity. Then — silence. For 3 months. No follow up. No technical discussion. Nothing. A few days ago, they notified me of their decision: $50K. The maximum payout for a Critical vulnerability in their bug bounty program is $500K. I disputed it. Silence again. No explanation for the reduced payout. No explanation for the 3 month ghost. No conversation at all. To be clear: the $50K has not been paid either. I've seen others share bad experiences with bug bounty payouts recently. I never thought it would happen to me. I can't force them to do the right thing. But I won't let this be forgotten. I will dedicate 10% of all my future bug bounty earnings to making sure this story stays visible — until Injective pays what I deserve. Full Technical Report: github.com/injective-wall…

@_brizal @re yeah which you are when looping you sell it for more rwa but i think you are right this should not be categorized as a risk because loopers dont pick their debt asset based on a view that it might depeg and write off their debt

@letsgetonchain @re ah yes, true! if you're shorting the depegged asset via the debt

@_brizal @re yeah agreed i guess its a risk relative to the possible upside you would have gotten by borrowing the plain depegging stable, in which case your debt would decrease

@letsgetonchain @re actually if USDC/USDT depegs (down), your debt will skew toward the pegged asset so it's still $1

if you've got $100k deposited on @0xfluid (including Jupiter Lend @jup_lend & Venus Flux) dm me 🌟

@0xruffysparrow agreed the resilience of its TVL can be attributed to both, the high quality of Fluid TVL, as well as the strong growth it experienced via its joint ventures.

@letsgetonchain Mby thats only because on fluid are more stables and less btc eth ( volatile assets ) and the majority of these tvl decreases is actually due to lower prices

1) Fluid's joint venture strategy for expanding to new ecosystems is paying off. Among the major pooled lending protocols, Fluid has been the most resilient by far.

@martinkrung agreed a portion of it can be allocated to the degree of TVL quality Fluid has vs. its competition as opposed to only growth via jup lend and flux in a difficult market. I think both the fact are very positive indicators for Fluid.

@letsgetonchain ?? its just clear that fluid either holds more blue-chips than the other or/and may have a higher stable coin ratio then the others. this numbers have little meaning like you present them.

@DCinvestor neutrality is so valuable and unique because unfortunately most humans tend to bend over and trade principles for short term perceived benefits.

Vitalik got a lot of flack from CT for not bending over backwards to suck Trump's dick and instead reinforced that Ethereum is an open network which anyone can build on and it's not built for the benefit for any single nation in hindsight, it was obviously extremely prescient

3) Being the most capital-efficient lending protocol doesn't hurt either. Fluid is ideally positioned for some macro driven sector tailwind. x.com/Blockworks/sta…

2) Market size peaked for all of them around mid-October. Drawdown since then: Fluid: -30% Aave: -42% Compound: -52% Spark: -55%

@Kazuya_888 study fluid

If you guys haven't figured it out yet, almost all Defi/DAO token are truly uninvestible from my pov. Aave governance with Stani ruining the Aave token just made all this even more clear As it currently stands you have to fade: -Grifters/consultants/3rd party teams continually looting the treasury overcharging for useless services and value extraction -Overcome fake governance votes where votes are done in a cartel fashion and not in the interests of any actual retail token holders -Dodge left tail risk in the sense a team in any given moment will drive accrued value to equity or 3rd parties instead of the native token because there are absolutely zero shareholder rights except selling your tokens at a loss if/when this happens All of these things while trying to command premium P/E's in a space where disruption happens fast, cyclical revenue patterns, is just not a good usage of investor capital unless specific circumstances align perfectly The only investible model to me moving forward is: -The team completely owns the decision making/roadmap, no fake DAO stuff -Has long term incentives tied to the token value -Has made any equity a zero, both in their words and their actions -Has actual integrity so you do not have to watch them 24/7 and waste energy scrutinising every decision they take If a protocol does this, it allows you to then at least bet on a team and not just get sucked into a broken DAO model that will incinerate your capital. The model of the last 5y of trying to double dip (both equity and token) while doing the whole 'trust me bro' with respect to the token not being a zero is IMO finally officially over

Don't make the mistake of thinking the banks only care about stablecoin yield. The quiet part out loud: "Holding payment stablecoin, creating liquidity in that DeFi world, that's part of the crypto roadmap, but that's not okay." Stop them now, or they're coming for DeFi next.

@smartestxyz @Uniswap @CurveFinance @Balancer @HyperliquidX you write a 100 page book on DeFi and the research around it has not made you come across Fluid?

@letsgetonchain @Uniswap @CurveFinance @Balancer @HyperliquidX Gonna look into it, I’m surprised by myself that I never heard of them, always something to learn out here

Today I am happy to post one of my longest working papers, the DeFi evolution over the last 9 years. From @Uniswap , @CurveFinance , @Balancer Evolution to the rise of @HyperliquidX this Paper covers all significant improvements in the last 9-10 years. I hope you enjoy reading this one. After the last papers were all TradFi approaches, this one comes back to our hometown, DeFi. (drive.google.com/file/d/1EAxEh3…)