2⃣Simultaneously $GLP yields will still be high in at least the next 8 days, with an expected base APR of 34.07% (-> 33.68%), leading to a @yieldyak_ $GLP farm base APY of 40%-45% (-> 49.1%).
How high can you get that?
3/11
🐂Bulls borrow stables ( $USDC, $USDt) to mint $GLP.
🐻Bears borrow a (combination of) non stables ( $AVAX, $BTC.b, $WETH.e) to mint $GLP.
🦀Crabs partially hedge their position by taking the weights as shown in the @GMX_IO dashboard to reduce their exposure to a minimum.
4/11
@vector_fi is currently working on getting the contracts ready, so we'll soon be updated on that.
As Vector received 52% of the provided funds this round, we will receive 52% of the provided funds as well.
5/11
So if you had 100 USDC in the pool, you will receive 52 USDC in your Prime Account.
Keep in mind that if you compounded this pool with borrowed funds, the debt is compounded as well, potentially leading to no, or low collateral for your specific Prime Account.
6/11
Our collected reimbursement fees in the 4 days after the exploit will be redistributed over the accounts to make all depositors whole (surplus below, BTC is $0.01 in the red)
Leftover reimbursement fees are then redistributed over affected borrowers, based on stake 🫡
7/11
4️⃣ As you know, we are getting a lot of upgrades ready.
We recently posted a tweet asking you what you want us to put the most focus on, and a lot of you mentioned that Depositor loyalty rewards should be our main priority rn.
You ask, we deliver👍
8/11
While we put extra workload on this, do know that it isn't "either / or".
From Nightmode to the stats page, and everything in between, it's all coming thoon.
Exploit aftermath: A thread leading up to the Post
Mortem and Reimbursement Plan.
10 days ago, we suffered a $5.98M exploit. The last
attack was resolved within 48 hours. This time it takes
longer.
That deserves an update thread.
Questions covered in tweet below👇
1/9🧵
This thread will cover a couple main questions:
1⃣ What's the status? ➡️ 3
2⃣Why the wait? ➡️ 5
3⃣What's the plan? ➡️ 7
4⃣Where's the info? ➡️ 9
2/9
1⃣What's the status... on the stolen funds?1⃣
They are being tracked. Our communication is
monitored by the attackers, so we can't go into detail.
What we can say is that we have the best in the space
on top of this.
Withdrawing is one. Getting away is something different.
3/9
We believe that, while the tokens are important, true decision making should come from DeltaPrime's users.
Here's the why, and the how 1/5🧵
Alignment
Holding the token exposes you to token price, but token price can change quickly. And therefore your allegiance as well.
Integrate a high-risk, high-narrative integration, hype it, and the token can moon over the course of an hour. You can sell your token, while lenders and borrowers are stuck with a broken protocol.
Redemption fees / periods mitigate these short-term mindsets like a band-aid on a never healing wound.
We believe DeltaPrime's users are better aligned with the long-term success of the platform. That's why, while you will still need $sPRIME, you will also need to use the protocol to gain voting power.
(we felt this deserved a bit more text, but don't worry. Next tweets are sized for degen-minds again)
2/5🧵
Voting power accrual
Voting power accrues over time, with a 3-year cap
Users can accrue in two ways ($sPRIME required)
1️⃣ Depositors: $10 deposited with $1 $sPRIME = 50 points per year
2️⃣ Borrowers: $10 borrowed with $1 $sPRIME = 10 points per year
With another airdrop coming up in the next days (and more in the works), it is time to remember why we exist:
To give away free money🤑
Or well, that's a means. We exist to:
📈 Help your favorite DEX grow
🏦 Improve lending as you know it
⚖️ Level the playing field
And make you become the whale
Here's how🧵
📈 Help your favorite DEX grow📈
You're a dedicated community member to your favorite DEX, but you know it can achieve more.
More TVL, more volume, more adoption. If only some whales would enter.
But whales can't enter because, even though your DEX's TVL is large, the many pools fragment this liquidity. This leads to decent-size deposits, crashing that pool's rate.
And if it doesn't crash the rate? It gets exposed to IL, needs to be managed, does not have straightforward APY. It's a hassle.
And so the whale stays away, depositing his WETH once again in another massive Aave pool. Providing nothing to the ecosystem, but deepening an already deep lending pool.
A pool that rewards equally to what it provides in ecosystem value.
1.23%
📈 Help your favorite project grow📈
You do have that expertise, you do have that time. You know that there is IL involved in LPing, but for your asset in this market, your generated fees far outweigh the IL.
If you only had that 500k yourself. You could turn that 1.23% into 20% easily. Pocket the difference, return the rest, contribute to your DEX. There is just one issue.
Comparing 3 easy $sAVAX strategies, and how they impact your Prime Account.
Comparing:
- Health (leverage)
- Current APY
- Risks (all have sAVAX depeg+smart contract)
- Rewards
- Intuitiveness to set up
- Efforts to manage
🧵🧵🧵🧵🧵🧵🧵🧵
USDC ➡️ sAVAX
This is for the #AVAX Bulls amongst us. The ones that look at a $14,89 price and laugh. Who know it will never be this low again and put their money where their mouth is.
What's that strat?
1⃣Deposit $USDC
2⃣Borrow $USDC
3⃣Swap all to $sAVAX
4⃣Farm it all