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
Yeah for sure. I was surprised by the language in the post about it being more like a primitive for LSPs to build off of. But agreed that it would be a huge boon for TVL inflow/UX to just say “ok send us this thing right now in the moment when you want to take this action and we will take on the unbonding period.”
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Jon Charbonneau
@joncharbonneau
Why were you surprised by the language in the post? That’s how it’s used today, as a primitive that LSPs build on top of Eg stride takes in LSM shares, give users stATOM, then handles what to do with the LSM shares after the fact
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