π¨ FREE MONEY ALERT π¨
1./ You can now swap $LUNA for $LUNAx and receive MORE $LUNAx!
To make it even better, due to the autocompounding mechanism built by @staderlabs $LUNAx should not be pegged to 1 $LUNA but should become worth more over time π€―
1./ You can now swap $LUNA for $LUNAx and receive MORE $LUNAx!
To make it even better, due to the autocompounding mechanism built by @staderlabs $LUNAx should not be pegged to 1 $LUNA but should become worth more over time π€―
2./ How does this work?
Usually once something autocompounds you receive rewards in new tokens. But this is a taxable event in many countries. And who wants to pay taxes? Right...
Usually once something autocompounds you receive rewards in new tokens. But this is a taxable event in many countries. And who wants to pay taxes? Right...
3./ So to avoid this issue, @staderlabs invented $LUNAx.
$LUNAx is the liquid version of a staked $LUNA. So you now have a staked $LUNA, a liquid derivative but no rewards to claim. Wait, what? How does this work?
$LUNAx is the liquid version of a staked $LUNA. So you now have a staked $LUNA, a liquid derivative but no rewards to claim. Wait, what? How does this work?
4./ Well, instead of getting rewards, $LUNAx just rebalances. So once the APR of staking $LUNA is 10%, $LUNAx should be worth 1.1 $LUNA after one year.
5./ And because of this, the arbitrage opportunity is even getting bigger. Even when 1 $LUNAx is worth 1 $LUNA it's an arbitrage opportunity π±
#NFA, but I'm using this opportunity to accumulate π₯
For tax advise, check with your own tax consultant.
#NFA, but I'm using this opportunity to accumulate π₯
For tax advise, check with your own tax consultant.
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