watanabe.usdc
5.5K posts
watanabe.usdc
@neverliquidated
yield farming research
Katılım Eylül 2024
1.6K Takip Edilen1.6K Takipçiler
The fact that people expect to get FFR (Fed Funds Rate) from stables is a little bit of financial magical thinking.
If Circle is getting FFR, and you as a USDC holder are also getting FFR, and USDC is full reserve, that's kind of financial alchemy, no? How is the same T-bill generating 2x the yield? Should not be sustainable in the long run to double dip FFR like that. "Getting paid for the riskiness of USDC / AAVE / smart contract risk" is the wrong frame--the stablecoin market has no intrinsic connection to the FFR unless all stables are perfectly transmissible in and out of treasuries, which they're not. You could apply a similar argument to bank savings accounts--which carry bank default risk above the FDIC insurance threshold--and also pay yield well below FFR.
If you want to get treasury yield, you should probably own treasuries or something which is backed by treasury yield like USDtb or USDS. Easy enough on-chain now.
(Investors in both Sky & Ethena)
Sam MacPherson@hexonaut
@hosseeb Just have to be in products that have RWA backing and you don't drop below the RFR. Ultimately high liquidity yield products will converge on SOFR in all market conditions.
English
English
This is awesome. The yzPP is probably the most interesting to me but I wish minting was public to make arbs easier and I there was some path to 110% collateralization.
I’ve got a bot setup to dm me when the curve pool gets closer to 50/50. Still a ton of opportunity when the market dumps.
English
March farming update:
- made a little website (watanabe.capital), to track yields like:
- syzUSD loops from @YuzuMoney
- earnAUSD loop on @Curvance
- ezETH loop on @Curvance + hedge on @aave
- sUSDai depegs
- yzPP depegs
- QFEX-HL funding arbitrage
- Polymarket bond-like returns
- spread trades like long HYPE/ETHFI/BNB vs ETH/SUI (wip)
- besides whats on the website I've been looking at @re loops on Fluid
- currently working on automating trading on QFEX+Polymarket
- yields very dry
English
@zkCryptic @yuzumoney @Curvance @aave theyre 0 by default, funding can go negative on hl and its market orders are expensive on qfex
English
@neverliquidated @yuzumoney @Curvance @aave Whats the downside of farming QFEX - HL Gold? Why are QFEX funding rates 0?
English
@katexbt the only time i got robbed for my phone in latam was when i was using my laptop in public. bad idea
English
you are going to get robbed if you do this
ben guo 🪽@0thernet
if you close your laptop lid in 2026 while you walk to your airbnb you're not going to escape the permanent underclass
English
@MikeSilagadze @ether_fi Etherfi rate: 1322.4 ARS/USD
Blue dolar: 1405 ARS/USD (5.9% cheaper)
Official: 1363.6 ARS/USD (3% cheaper)
I just wish it was closer to the official rate, so that it wouldn't be so inefficient vs carrying cash.
English
@neverliquidated @ether_fi In the POS terminal when it asks you whether you want to spend in USD or Pesos, select Pesos!
The terminal is scamming you with crazy high fx. The etherfi card is less than 1% fx fee
English
@0x7477 maybe aave is the rfr for those without access to usd denominated brokerages
English
English
Alpha drop: earn up to 23.44% APR looping @worldlibertyfi USD1 via Echelon on @Aptos.
> Turn on stable correlated e-mode for 93% LTV
> Supply USD1
> Borrow USD1
> Re-supply and repeat
Result: 23.44% APR. All in one interface.
Supply USD1 on Echelon ↓
app.echelon.market/market/0xbb8f3…
English
@buyerofponzi lol my biggest loss in crypto came from not being brave enough to take that deal. at least someone got it
English
i think i got the highest execution on lighter points otc sale lmao
$100/point
Gustl@defisexbot
English
Żaden mężczyzna urodzony po 1993 r nie umie gotować... Znają tylko Looksmaxxing, granie w Lige Legend, "larpowanie", homoksualizm, jedzenie cipki, kłamanie.
Polski
@minchi you know each time you write the problem is y not x you expose yourself as someone who can't formulate his own thoughts without chatgpt?
English
Resolv gets exploited. USR depegs 90%. Somewhere, a crypto card user is still seeing "4.5% USD yield" on their app
They have no idea what just happened. They don't know their app's treasury was routing through vaults exposed to USR if they haven't read through the specifics. They don't know what USR is. They didn't sign up for defi risk they signed up for
This is the hidden architecture of consumer crypto products. The yield has to come from somewhere and when that somewhere blows up, the gap between what users see and what is actually happening underneath is enormous
The real problem isn't the minting flaw. It is that the risk was too complex for the non-CT user to fully understand
Resolv Labs@ResolvLabs
Resolv has experienced an exploit that allowed the attackers to mint 50mn of unbacked USR. The team has currently paused all the protocol functions to prevent further malicious actions and is actively working on recovery.
English
Question - what do you think of $LIT at 0.96 USD here (22 Mar 2026)?
- comment below
Xtine Fang@XtineFang
Market Sentiment on @Lighter_xyz (collected by xtine) Question – what do you think of $LIT at 1.80 USD here (15 Jan 2026)? • Solo Trader (usually bear) – I don’t see any real source of new demand for LIT; the metrics keep deteriorating. Vlad is tweeting in a way that’s -ev. There’s likely to be a big overhang of breakeven sellers. For me it’s probably a no‑trade until a potential Robinhood listing, then maybe a short into that. I already covered everything at 2 USD. • Solo Trader (usually bull) – Right now we’re basically just betting on a Robinhood listing. It’s been underperforming badly and the revenue numbers don’t look great. From what I recall, maybe ~75% of the airdrop sellers are already out. That said, they still have dry powder to push the token if they want. I’m on the sidelines for LIT; sold most around 2.7–3.0 usd and have been trading XMR and BCH instead. Ref: qwantify.io/app/lighter/ai… • Liquid Fund Analyst (usually bull) – I don’t like that LIT got dumped even when there was a bunch of good news. I think the real bottom will be when it starts getting dumped on bad news, and that’s when I’d be interested in buying. • Liquid Fund Analyst (usually bull) – As a long‑term bet I’d rather own HYPE, to be honest; I prefer backing founders who actually pay for their pros. Short term you can maybe play it for a bounce toward ~2.50, but it’s hard to see this doing a clean 2–3x from here. • Liquid Fund PM (neutral) - Overall, I don’t really want to own it: valuation is at best fair and arguably expensive, the community isn’t as strong as HL so they’ve been selling aggressively, there’s meaningful VC overhang, and the revenue‑share terms still haven’t been disclosed. Feedback from Lighter affiliate: • Lighter Farmer – I received a decent‑sized airdrop, but it’s down six figures over the past three days and I regret not selling. Most of the Lighter whale community is v disappointed – they were expecting a HYPE 2.0‑style chart, so most ppl didnt sell.
English
@mindofachaser i don't get where you get the leather jackets from, the shopping choices in BA are extremely poor and the items are marked up 25%+ due to import duties. unless you're buying crappy argentine brands
English
Buenos Aires is interesting.
Thought it would be more first world than it is. Which, as a traveler, I like. Less rules, more common sense.
Was definitely surprised to see the state of the neighborhoods just outside of the city. Very poor.
Palermo is nice. If I lived here this is where I would be. Another hipster Brooklyn type of neighborhood infused with South America. Good food. Good looking, well dressed people. Fun vibe.
Idk if it’s because I have real money now but everything feels borderline free here. Ubers for $3-5. Brunch for $12. 9 course Michelin quality dinners for $150. World class leather jackets and loafers for a fraction of what it costs in America.
Service here is great, and the people are very nice. They never rush you while you dine, but they do show up when you need unlike Spaniards who go MIA for 4 hours when you’re looking for the check. Lol.
Weather feels tropical but it’s not. No iguanas crawling all over like in Costa Rica. Streets are dirty, but that’s common city shit, similar to a NYC.
One thing in Buenos Aires that they got right for sure is the trees all throughout the streets. Keeps the calm, natural vibe.
Yerba mate is fire, will definitely start drinking it. Markets galore here, which I like. Tomorrow we’ll do their biggest market San Telmo and a Boca Juniors game to follow.
Overall, I’m still not a fan of big cities no matter where I go. Been to many countries, and many cities all throughout the world. Still not a city guy.
As for the steaks? Azorean steaks are superior to Argentina’s imo. Although I have a reservation at Fogon Asado tonight so that may change in the next few hours.
English
ja pamiętam, bo jadłam taki tydzień temu wypierdalac na facebooka
ANDRZEJ KARPINSKI@ANDRZEJKARPINS7
A tej wersji. Z mizeria sa fani ?
Polski
@mil0theminer would a talented tech person show up to a random claude meetup anywhere?
English
