Jon Charbonneau
@joncharbonneau
Wrote some stuff about LSTs Realizing most of the smart ppl left Twitter now so gonna try out farcaster again for this one Happy to discuss any of the tech stuff in here, lot of the Cosmos stuff like LSM broadly applicable to ETH world too https://dba.xyz/modular-money-liquid-staking-for-people-in-a-hurry/
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mfn🌀
@melissa
Thanks for sharing! It’s great to read some IBC/Cosmos LST info and I appreciate you pulling parallels into the ETH world, too—there’s so much deep staking experience, research, and innovation in the Tendermint eco that ETH folks should be considering more frequently IMO. Question for you…
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mfn🌀
@melissa
Any practical examples of why a LSP would want hold a semi-fungible LSM instead of just initiating unbonding? If Alice is paying Coinbase 15% to stake ATOM, turns that into a LSM, and deposits to LSP, wouldn’t that LSP now be paying CB 15% for Alice’s retail stake (way more than they would usually pay natively)?
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Jon Charbonneau
@joncharbonneau
Main reason would in theory be it’s the simplest option, but in practice yea idt it makes sense to just do that for the LSP It’s mostly useful as short term LSP can be transferred ownership before redelegating
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mfn🌀
@melissa
Only 2 real non-UX-speed-nab opportunities I could think of here; curious if you’ve heard either of these reflected at all in the teams currently building with LSMs….
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mfn🌀
@melissa
1 pt 1) KYV(alidator) - user wants to participate with an open-set LSP but needs a specific node operator to meet their compliance req’s, contracts, or whatever. Without having to build segregated pools, LSP could have them stake w/ trusted NO then send the LSM to the LSP.
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mfn🌀
@melissa
1 pt 2) Would probably have to be a huge whale to get that kind of deal cut with fee efficiency, though. But could help prevent centralization of stakers with firm investment mandates.
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mfn🌀
@melissa
2 pt 1) Expansion of active set for stability for baby IBC chains 👶 maybe the chain’s node operators are all bad at running hardware but they’re trying to bootstrap, and they really want someone reliable in the active set, but they can’t get a Coinbase or Figment or legit home operator in…
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