DeFi

Whatever your views on Ethena's eUSD, pretty cool that there are so many smart people diving in and looking at the risks.

Gives me lots of confidence in crypto/DeFi generally. Crowd sourced peer review is powerful.

Insurance, Ethereum,

Founder of Nexus Mutual

The design makes certain choices and trade-offs for well thought out reasons. I like to understand the potential failure modes and then assess risk vs return.

I liked this analysis.

The design makes certain choices and trade-offs for well thought out reasons. I like to understand the potential failure modes and then assess risk vs return.

I liked this analysis.
https://defieducation.substack.com/p/ethena-fundamentally-flawed?r=6hda&utm_campaign=post&utm_medium=email

Sadly most takes are mid-curve superficial ones...Sure its centralised, but so is USDC, Tether, (arguably DAI because USDC backed). When you interface with normie finance you have to be. The cash and carry trade works pretty well in bull markets - yield is real. Have you seen any decent deep dives?