cryptobanking

July 24, 2024 Markets.

- Stables are looking to again tick market cap highs pre-FTX
- Lending rates on stables hovering between 5-8%, with anomaly on GHO.
- Stables futures APY on @pendle-fi double digits on stables markets.
- Floatcoin FDV ticking up. @letsgethai holding while @open-dollar dropping 200 BP. OHM steady.

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is ohm doing anything or just sitting and slowly growing?

yep. wrapped SDR for sure. not really sure what the plan is there...

Ohm is very weird now. My not-so-quiet take is its a full exit scam that just takes advantage of MakerDAO SDR.

They redesigned it so Olympus is now a lending platform to lend all the DAI it owns at stupidly low rates, and it sold off all the POL it had for DAI to lock whatever's left into the SDR.

You can only really use OHM as collateral to borrow DAI, so its this wrapped SDR platform at this point.