Sam MacPherson

@hexonaut

204 Following

488 Followers

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Classifying types of oracles. I think everything fits into 3 categories: -Market Price (ex. ETH, BTC, WBTC) -Fixed (ex. WBTC, USDC, DAI, USDe, EURe) -Yielding Fixed (wstETH, sDAI, sUSDe) Everything can have a market price, but only pegged assets can belong to the second two.

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Come check it out if you're at EthCC!

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On Ethereum there are only two assets that matter across L2s/sidechains: ETH and USD (+ derivatives) Liquidity fragmentation is only a problem in the abstract as yield-bearing issuers can automate settlement in the backend. Crosschain intent protocols should keep this in mind.

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MKR buybacks resumed 📈

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Another +100m inflows to DAI today which will be rotated into t-bills or USDe/DeFi lending when the market picks up again. DSR >= t-bill yield with target 25% cash reserve. Enter and exit when you like. Spark Cash & Savings page makes this easy: https://app.spark.fi/savings

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This industry moves so fast it's actually a good sign when a project is rapidly pivoting (provided they maintain their core biz). This is the wild west and nobody has all the answers yet.

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Spark UI gets a facelift. https://twitter.com/sparkdotfi/status/1782785705208410487

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PSA sizable rate cut coming for borrowers this week.

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DAI supply has been increasing rapidly (+18%) since cratering in early March. Confirmation that a sustained high DSR is the killer feature for DAI. Next step is to build liquidity between USDC and sDAI on all L2s, sidechains and L1s. DSR as the DeFi savings account.

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Foundry shipping 🔥 again. CLI access to (re)verify bytecode. Previously, this was a pain as code deployment reviewers couldn't easily check whether the bytecode of deployments matched the repository.

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There are two types of people: Those who see an EIP addition and get excited about new possibilities, and those who focus on the downsides. Personally I fall in the former, but it's good to have both sides.

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The most unbased thing is that we need to find a new term for all our abstract base contracts. 😭

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~24 hours later the market has absorbed the new DAI liquidity. Most is in this *very conservative* 86% LTV vault. Are you ready for more?

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Learning in public is helpful for everyone. I really appreciate posts like this. https://x.com/AndreCronjeTech/status/1776513558546694387?s=20

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Had a good conversation about the risks of Ethena USDe with @lemiscate. https://x.com/BanklessHQ/status/1776321469909262757?s=20

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DAI supply back up over 5b. A 13% increase MoM. sDAI proving to be the best combination of liquidity and yield this cycle. With 25% on-demand access to USDC it should be a part of every treasury.

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Part of being a great founder is to take bold action when an opportunity presents itself. It's important to listen to the critics, but know when they are wrong.

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Spark vaults are now the top two earning positions for Maker as DeFi rates are vastly outperforming t-bills now. You can see the t-bill providers at the bottom (Clydesdale and Andromeda). The MCD design is quite elegant to earn the maximum risk-adjusted yield.

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Spark Morpho Blue vault has been live for less than 12 hours and is already earning 41% APY on 100m. That's +41m / year in revenue (~10% increase). Maker <> Spark <> Morpho <> Ethena This is the power of DeFi.

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👀 https://velodrome.finance/deposit?token0=0x0b2C639c533813f4Aa9D7837CAf62653d097Ff85&token1=0x2218a117083f5B482B0bB821d27056Ba9c04b1D3&type=-1

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