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Kyran
@kyran
Anyone know why ethena only has a 2% insurance buffer? Doesn’t it need more in the case of negative funding rates?
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BraveNewDeFi
@bravenewdefi
Their goal is to direct some of the returns to their insurance fund over time, but it’s not ideal to see ~$14m held in stables outside of USDe. There’s ~$2m in USDe/USDT LPs on Uni v3 but if USDe depegs, that will be all USDe. Not crazy about how fast they’re integrating USDe into DeFi lending markets either…
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