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Jacob ʃei
@kingjacob
Ethena's USDe is now negative yielding. This scenario was known, with some saying itd cause a luna style blowup w/ cascading effects in other DeFi protocols & others saying you just close the trade and hold $1. I lean the latter assuming the market is filled w/ perfectly rational actors (😅). What do you predict?
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pumpingust 🎩
@pumpingust
the latter too, ENA token doesnt back USDe too plus i only see this becoming an 'issue' with prolonged negative rates
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