MarkoInEther.eth 🦇🔊

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To be first on upcoming mainnet follow @Tapir_Protocol. Full article here tapirprotocol.substack.com/p/the-risk-tri… -------------------------------- The End

The tradeoff is bounded coverage—currently capped at ~50% depeg depth before losses pass through to senior holders. For most yield strategies that's more than sufficient. Anything beyond 50% is a fundamental protocol failure, not normal market risk. Not a TradFi adaptation. A DeFi-native primitive built for programmable, permissionless finance.

The Risk Trilemma Article Tl;Dr DeFi risk protection faces a fundamental trilemma—three properties that are nearly impossible to achieve simultaneously: 🔹 Capital Efficiency – provide coverage without locking up equivalent collateral 🔹 Counterparty Risk Elimination – no reliance on anyone's solvency or willingness to pay 🔹 Coverage Assurance – confidence that protection will actually be honored when you need it Every existing model forces you to sacrifice at least one.

What happens to $ETH when Institutions finally get it? @dannyryan and @tkstanczak at Casa W3G. 1 hour conversation on the next decade of Ethereum. "Wall Street wants decentralization more than crypto does." - First clip tomorrow, 20 UTC.

2026 is the year that we take back lost ground in terms of self-sovereignty and trustlessness. Some of what this practically means: Full nodes: thanks to ZK-EVM and BAL, it will once again become easier to locally run a node and verify the Ethereum chain on your own computer. Helios: actually verify the data you're receiving from RPCs instead of blindly trusting it. ORAM, PIR: ask for data from RPCs without revealing which data you're asking, so you can access dapps without your access patterns being sold off to dozens of third parties all around the world. Social recovery wallets and timelocks: wallets that don't make you lose all your money if you misplace your seedphrase, or if an online or offline attacker extracts your seedphrase, and *also* don't make all your money backdoored by Google. Privacy UX: make private payments from your wallet, with the same user experience as making public payments. Privacy censorship resistance: private payments with the ERC-4337 mempool, and soon native AA + FOCIL, without relying on the public broadcaster ecosystem. Application UIs: use more dapps from an onchain UI with IPFS, without relying on trusted servers that would lock you our of practical recovery of your assets if they went offline, and would give you a hijacked UI that steals your funds if they get hacked for even a millisecond. In many of these areas, over the last ten years we have seen serious backsliding in Ethereum. Nodes went from easy to run to hard to run. Dapps went from static pages to complicated behemoths that leak all your data to a dozen servers. Wallets went from routing everything through the RPC, which could be any node of your choice including on your own computer, to leaking your data to a dozen servers of their choice. Block building became more centralized, putting Ethereum transaction inclusion guarantees under the whims of a very small number of builders. In 2026, no longer. Every compromise of values that Ethereum has made up to this point - every moment where you might have been thinking, is it really worth diluting ourselves so much in the name of mainstream adoption - we are making that compromise no longer. It will be a long road. We will not get everything we want in the next Kohaku release, or the next hard fork, or the hard fork after that. But it will make Ethereum into an ecosystem that deserves not only its current place in the universe, but a much greater one. In the world computer, there is no centralized overlord. There is no single point of failure. There is only love. Milady.

Introducing Generic: Neutral infrastructure for private and yield-generating stablecoins. What is inspiring now, will be generic in the future.

My favorite Pendle yield strategies Here are the best yield opportunities for stablecoins I've found 👇 1. Provide liquidity to Pendle's sNUSD pool to earn 19% APY + 25x Neutrl points sNUSD is the yield-bearing dollar of @Neutrl, which generates yield primarily by buying locked tokens at discounts OTC and hedging via short positions until they unlock. sNUSD's 1-week APY is 15%, which seems insanely high given current market conditions. Unfortunately, its Pendle pool has a TVL cap, so you’ll need to wait for someone to withdraw or for a TVL cap increase before providing sNUSD liquidity. But you can mint sNUSD on Neutrl and simply hold it to earn 15% APY at any time. 2. Provide liquidity Pendle's sUSN pool to get 14% APY + 120x Noon points sUSN is the yield-bearing stablecoin of @noon_capital, a stablecoin protocol that has been generating a high yield for a long time. sUSN generates yield via private credit, US T-bills, DeFi Lending, and funding rate arbitrage. What I like about it is that Noon is one of the first dApps to integrate Accountable. Thanks to this integration, you can verify its stablecoin reserves in real time on its solvency dashboard. 3. Provide liquidity to the sUSDai pool on Pendle to earn 11% APY + 12x USDai points (on Arbitrum L2 or Plasma) If you look for a low-risk, decent stablecoin yield, I think this is one of the best you can get. I say this as sUSDai, the yield-bearing stablecoin of @USDai_Official, is 99.8% backed by US T-bills, which are considered risk-free as the US government backs them. Another thing I really like about Pendle's sUSDai pool is that it has the highest points multiplier for sUSDai. (12x points multiplier) The only downside of sUSDai is its 30-day unstaking period, though you can also sell it on a DEX instantly. That's all for today. I thought it would be helpful to share a few yield strategies I've been using to make money regardless of the market conditions. Any other DeFi yields I should check out?

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Check your wallet for approvals to 'iearn TUSD'—even if you haven't used it in years, old permissions on legacy chains can still be a risk!!!

A ghost from 2020 just haunted the Scroll network 👻 A legacy Yearn Finance V1 vault was just exploited for ~$300k. Wait... Yearn V1? In 2025? Yes. In DeFi, old code never truly dies—and sometimes, it comes back to bite. Let’s dive into the "Ghost in the Machine" exploit 🧵