dev @re B. Economics and Business Economics (2028)
who knows
Joined June 2021
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if someone loves a flower, of which just one single blossom grows, in all the millions of stars, it is enough to make him happy just to look at the stars.
no, @cz_binance did not go to jail for weak KYC
source: home.treasury.gov/news/press…
i can almost feel the trickle down wealth
SpaceX's 11% share price boost has made Elon Musk the world's first trillionaire, controlling two of the world's largest companies. ft.trib.al/wHPQ9gw
"new supply isn't coming bc rates are too low, it's simply cus lenders aren't willing to take the risk."
if you dont see the issue with this sentence then you should perma log off
tl'dr Jeremy wants to hose borrowers on AAVE
Instead of helping DeFi during a crisis, Jeremy wants to raise the USDC base rate to 50% at the EXPENSE of borrowers positions.
The proposal says by increasing rates, we can see if borrowers are "truly rate sensitive", also noting that current rates are too low for new supply to lend into risk.
But here's the kicker: new supply isn't coming bc rates are too low, it's simply cus lenders aren't willing to take the risk. EVERYONE is waiting for a cut and dry resolution plan for filling the remaining gap from the Kelp incident, which came as a result of the L0 exploit.
Until then no lender in their right mind will take a chance lending stables on AAVE, whether you offer 10% or 50%. Same with borrowers. Borrowers will continue to borrow against non-correlated assets for fear of a bank run. They will NOT repay until a clear resolution is agreed and executed.
By increasing the rates, Circle is making things worse by the possibility of a liquidation cascade.
unc @jerallaire, here's a better plan
Why not allocate a portion of circle's recovery relief fund into AAVE?
Does anyone still believe @justinsuntron ?
Justin’s favorite move is playing the victim while making baseless allegations to cover up his own misconduct.
Same playbook, different target. WLFI isn't the first.
We have the contracts. We have the evidence. We have the truth.
See you in court pal.
the real issue with @ResolvLabs 'exploit' is that at every point in time, the team failed to do something important.
- When writing the contract, not implementing rate checks.
- When making the offchain keeper for completeSwaps, either not securing the pk correctly or allowing it to be manipulated.
- After many days of inactivity on the USR swap contract, they failed to remove mint permissions for an essentially discontinued product.
- When their token was getting inf minted, waiting 3 HOURS to pause the contract allowing it.
4 points where this could have been either fully avoided, or mitigated. Likely an inside job.
this claudeslop has GOT TO GO
what do you mean an EVENT INDEXER syncs with ETHERSCAN every half hour 😭😭😭
and to top it off it doesnt even scan since USDT was deployed to mainnet
You don't own your stablecoins. Circle and Tether do. And they have a remote kill switch.
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If you hold $USDC or $USDT, you need to see this. Welcome to the transparent fiat prison. 🏴☠️
