lito

enjoying ethereal's new prediction market feature afaik first UI where you can do multi-parlay on polymarket markets

there wouldn't be a liquidation cascade - just an orderly unwind of the leveraged positions liquidations only occur if a stablecoin depegs but that's not the scenario you're describing and even if it would temporarily depeg there wouldnt be liquidations because these markets use a hard-pegged oracle..

megaeth surpassed monad tvl, but look closer: - 61% ($300M) of this tvl belongs to @ethena's usdm supply - meaning the remaining organic tvl is ONLY $190.92M the situation doesn't look good if usde yields drop below borrowing costs, that $300M vanishes in a heartbeat and triggers a massive liquidation cascade

@0xAsta completely agree it’s egregious and so far off from industry norms that i didnt even check if there were fees befoe lp ing ill withdraw my funds prolly if they dont address this

@litocoen I'm not against them making money but ZERO DOCUMENTATION + nothing suggestive of that anywhere is NOT ACCEPTABLE

ok so let me get this clear -> there's no info about fee anywhere on the UI -> dig a bit on the chain : feeProtocol 34 = 50% fees -> dropped into the TG chat to ask about docs, reply - "going through final edits, should be out tomorrow", no comment about fees -> kumbaya has been out since forever but the docs are only going out TOMORROW, one day AFTER the most volume the chain will ever see in a day, the TGE they're CONVENIENTLY stealing our money with no docs in sight, they've been live since more than a month... they've already made 250k+ MEGA and 42k+ USDm with OUR funds THIS IS NOT OKAY

@0xAsta just saw ur screenshots this is insane

@0xAsta is that true? can’t believe that being true

@Void_of_Hype brother believe in something as a venture investor your whole job is to underwrite power law outcomes i wouldnt hold and buy ethena if i didnt think it can surpass tethers current marketcap

@litocoen Power law if you distribute yield you need infinitely larger supply for equal issuer profits, an almost impossible number even to fit the Ena market cap at -50% lower

ethena's white label stablecoin issuance platform is taking off larger than bridge and m0

yes it’s a volume game look i know usdt and usdc are great businesses everyone knows it put yourself in the shoes of a stablecoin that didn’t launch 10 years ago and wants to catch up obviously they’re going to undercut them on fees or in this case distribute yield to users and projects they’re doing exactly that right thing

The white label stables are tokenized tokenized treasuries. Ethena isnt setup to hold them so they deposit into USDTb. Two middle men taking fees. When 20% of yield reaches ENA ignoring all fees and with no emissions $5 of white label stable earns the same as $1 of Usdc/Usdt earns for Circle/Tether. When you factor them in its more likely requires $8-10 of white label USDe for Ena to earn equivalent of $1. Do you think USDe supply will hit $50 billion? If yes, it is still only comparable to a Circle equity with less than $10b supply.

@AlphaWolfPRMR nah close and create new one

@litocoen is there any way to edit our position's range once we have it open already?

this is the best LP range selector UX i have seen in crypto so far by Kumbaya

@saintniko @0xCramJam @EkuboProtocol ok gonna test tmrw 🫡

@litocoen @0xCramJam @EkuboProtocol would go to bat and say our range selector mogs

@saintniko @0xCramJam @EkuboProtocol tbf last time i lp’d was like a year ago will give it a new try one of these days

@litocoen @0xCramJam @EkuboProtocol will relay this feedback

@Void_of_Hype i agree that ena incentives played a role in that expansion but are you denying that basis trade was a legit source of yield all of 2024-2025? with regards to your prediction im making a different bet but i respect your opinion

USDe expansion and decline because of funding rate changes is the biggest misnomer. It has been nothing more than proxy for ena price and market acceptance of endless emissions from Pendle and looping incentives. The team expected (and still does) that this demand for ena will be infinite and spent no time on actually expanding the product into areas that generate positive value and support high yield for USDe so that fees can flow to Ena. Ena is just circle or tether equity with an 80% fee share to partners and destined for another 75% decline in price

@Void_of_Hype completely unrelated imo just due to the compression of funding rates why would it be a distraction, they have built the platform for their own stablecoin its only logical to open it up to other brands

@litocoen USDe supply fell from 16b to 3b of course a couple 100m spilled out into other areas. White label has been a complete distraction for the Ethena team

main reference for me was Uniswap here this was super easy to use in comparison current price is shown correctly (was always broken on uniswap as data was stale) big fat bars for the ticks, numbers populate in real time as you slide, and it's visually pleasing also nice analytics like unrealized p&l and IL loss

@litocoen what makes it the best? looks to me like @EkuboProtocol

@0xngmi agree the US was ascending and the european powers were embroiled in wars at home still kinda cool they were able to expand without having to go to war

@litocoen all these deals were for land that was already lost and couldnt be defended, so if they said no they would have taken the land anyway

it’s so mindblowing to me that the US bought almost half of it’s landmass for $22m (alaska + louisiana) gotta be the best financial deals in history people really undervalued land back then

@Only1temmy @bread_ yup yesterday it was down though

@litocoen Don't use that bridge. Use the mega bridge which is 1 of 1 recommended by @bread_

im gonna bridge 10k into mega eth which apps should i try

@JolTheMunk yeah $550 million inflation adjusted still ridiculous i know half a dozen memecoins that are worth more

@litocoen they also undervalued the inflation adjustment on $22M over 200 years lol still a steal though

@08xmt yeah probably and france was about to enter war with the brits they knew they were in no position to defend such a remote colony

@litocoen A lot of these deals came with a silent "... Or else."