Morpho is officially Based!

After a successful vote, Morpho is coming to 
@base.

And where Morpho goes, the ecosystem goes too.

Stay tuned.

Foundry

The picture shows the syntax for this, code here

Senior SC Engineer building SparkLend ⚡️⚡️⚡️
Ex-Maple SC Tech Lead 🥞
Ex-Maker SC Engineer 🌹
Foundry shill 🔥⚒️

The picture shows the syntax for this, code here https://github.com/marsfoundation/xchain-dsr-oracle/blob/ccc55365ec31e4874833e3d2379a90fa74ea86bc/test/DSROracleConfigs.t.sol#L38

I could assert that the deployer didn't have it, but I couldn't demonstrate that no one else had the role. 

The only way to do so is to check all the `RoleGranted` event logs and prove that no other addresses have been granted this role.

If a mainnet contract has no way of accessing important data for testing, you can use vm.eth_getLogs to parse out events data and assert.

I ran into this with OZ AccessControl checking DEFAULT_ADMIN_ROLE for a deployment ACL configuration test.

DeFi

~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?

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.

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.

Yesterday @MakerDAO set up a DAI Direct Deposit Module (D3M) to deploy 100m of DAI (through @sparkdotfi ) to a Metamorpho vault that could be borrowed against sUSDe and USDe.

In just 24h, the entire 100m was borrowed by DeFi users at a mean APY of 39.1%, generating over $39 million in annualized fees for MakerDAO.

Creators

The Daily Gwei

@sassal.eth I made a Frame to display the show notes for the latest /thedailygwei Refuel episode 🚀 

https://daily-gwei-links.vercel.app/frame

EigenLayer

Question: How does restaking work with LSTs? 

For example Renzo makes sense to me with ETH, ETH => Renzo => grouped into 32 and restaked.

But how does it work with wstETH? Is it just converted to ETH under the hood or is there some sort of setup where @lidofinance 
 itself is restaking with their validators?

Consumer Crypto

Apps built with crypto that don't feel like a crypto app.

That's the sweet spot.

Spark

Read this post if you haven't yet - Super informative and exciting about MakerDAO endgame

Read this post if you haven't yet - Super informative and exciting about MakerDAO endgame

https://forum.makerdao.com/t/makerdao-endgame-launch-season/23857

Base

Farcaster

I've come to peace with realizing crypto people and regular people live in two completely separate worlds.

Part of what makes FC so comfortable is that people are very crypto literate.

It does however require a constant perception change when building an audience on other platforms.

One day they will be the same.

Yeah i took a random hiatus from here and realized how much i missed it today haha - good to be back

Every time I go back to Twitter and make a few Tweets I realize how much more invested I am in Casting and growing an onchain audience on FC.

Data

morning weekend data: top farcaster cities by number of people

NYC runs Farcaster 💥 

NY + Brooklyn = 842

Ethereum

SparkLend has just surpassed $3 billion in TVL⚡️

The next 10k PFP meta will start as a Frame.

Lucas Manuel ⚡️

@lucas-manuel