Monteluna pfp

Monteluna

@monteluna

223 Following
362 Followers


Monteluna pfp
Monteluna
@monteluna
MakerDAO is a very strange thing, a credit protocol, that is also trying to act like a lending protocol. I feel like one can do one or the other, but not both well in eurodollar system. Its massively complex, yet still not even competing with wrapped eurodollars. https://x.com/ImperiumPaper/status/1803405670173007962?t=h7sUEqSeAzdeqK0sWCwlwA&s=19
0 reply
0 recast
2 reactions

Monteluna pfp
Monteluna
@monteluna
A bit more technical on this, as the price of HAI remains below $1, the pRate is an "instant feedback" that will drop if price gets closer, but the iRate is a "slow burn" that accumulates the longer the price remains away from $1. As time goes on, the iRate can get up to 5% or even 8% and have a strong locked in rate for long term holders of HAI. Watch the iRate here.
0 reply
0 recast
2 reactions

Monteluna pfp
Monteluna
@monteluna
/cryptobanking update As prices sink further and lack of buying continues, @letsgethai PID controller has pushed rates even higher to drive HAI's market price to $1. pRate is now at 34%, with iRate growing faster. HAI is currently trading at $0.94, but borrowers have yet to capitulate and repurchase debt.
7 replies
0 recast
9 reactions

Monteluna pfp
Monteluna
@monteluna
Tether is expanding into more collateral assets to continue to expand its credit dollar footprint. https://x.com/0xfoobar/status/1802691495016747264?t=y5do7YWJ5Y29rtRcXRI7Pg&s=19
0 reply
0 recast
0 reaction

Monteluna pfp
Monteluna
@monteluna
By not creating a realistic framework for token equities, the SEC has basically created a dark offshore market where insiders and founders can amass huge amounts of tokens. I put all the blame here on the FED. I also say: get your money out of bad lending protocols. https://x.com/ForbesCrypto/status/1801616552938107009?t=-WENWodgWOvW9g1iz3nQDA&s=19
1 reply
0 recast
2 reactions

Monteluna pfp
Monteluna
@monteluna
/cryptobanking update HAI has turned on the rate controller, and the PID is aggressively priced to drive to $1. Rates are hovering between 20-25%. Turns out a smart trade would have been all in $0.85, wait 1 month, and lock in 15% gains + 20% APR. @letsgethai
0 reply
0 recast
2 reactions

Monteluna pfp
Monteluna
@monteluna
Can someone explain what the fundamental value of CRV is besides the ability to be paid in CRV? https://en.m.wikipedia.org/wiki/Company_scrip
0 reply
0 recast
1 reaction

Monteluna pfp
Monteluna
@monteluna
Anyone hear from Tetranode? How is he doing?
0 reply
0 recast
3 reactions

Monteluna pfp
Monteluna
@monteluna
Hmm...
0 reply
0 recast
3 reactions

Monteluna pfp
Monteluna
@monteluna
/cryptobanking Users who were running yield swaps on Pendle are seeing big losses as we see expiration coming soon for the Jun 2024, but fixed yield is doing great. Note creditguild.org will be opening up new PT markets to roll over to Sep 2024 fixed. Might be a good time to lock in yield, and earn GUILD.
0 reply
0 recast
4 reactions

Monteluna pfp
Monteluna
@monteluna
Gotta catch 'em all!
2 replies
0 recast
3 reactions

Monteluna pfp
Monteluna
@monteluna
/cryptobanking update The Credit Guild is looking to generate new credit markets for @opendollar. $OD is an Ethereum-native floatcoin based on the design of RAI, but is *not* linked to the U.S. dollar and operates on an algorithmic global interest rate. https://x.com/open_dollar/status/1798458327086879091
1 reply
1 recast
5 reactions

Monteluna pfp
Monteluna
@monteluna
Good overview.
0 reply
0 recast
2 reactions

Monteluna pfp
Monteluna
@monteluna
New Speedmaster alert. https://youtu.be/VUgcmBg5S0c?si=2vPLbLpbx6JTyRqS
0 reply
0 recast
4 reactions

Monteluna pfp
Monteluna
@monteluna
Binance to delist Tether for European customers. Fairly interesting development but probably shouldn't be too big of a deal as Tether primarily serves Asia and LATAM. https://www.theblock.co/post/298194/binance-to-restrict-unauthorized-stablecoins-in-eu-starting-june-30-urges-users-to-switch-to-regulated-tokens
2 replies
0 recast
2 reactions

Monteluna pfp
Monteluna
@monteluna
Demystifying the Eurodollar system. https://www.concoda.com/p/demystifying-the-eurodollar-system
1 reply
0 recast
3 reactions

Monteluna pfp
Monteluna
@monteluna
/cryptobanking update Credit Guild is opening up more @pendle-fi PT markets, and demand is nearly exceeding available supply for USDC (We need more stakers). Currently the optimal credit allocation of $10,000 USD is staking into the PT-USDe-August lending term to earn the most yield, and bonus GUILD. creditguild.org
0 reply
0 recast
1 reaction

Monteluna pfp
Monteluna
@monteluna
Stablecoins are defense technology. https://www.nfx.com/post/stablecoins-defense
0 reply
0 recast
1 reaction

Monteluna pfp
Monteluna
@monteluna
Feels like credit market expansion in DeFi is back. Both of my usual markets are seeing credit demand exceed supply. @letsgethai is showing demand with lower HAI market prices. There aren't enough capacity takers in open HAI LPs to absorb demand. Credit Guild is showing demand with credit supply caps maxing out.
1 reply
0 recast
2 reactions

Monteluna pfp
Monteluna
@monteluna
/cryptobanking update Market prices on HAI have dropped to $0.94 prompting discussions about turning on the rate controller. Prices are signalling borrowers are entering back into the market after April's liquidation events. I predict HAI should drop further as leverage builds back up. @letsgethai
0 reply
0 recast
4 reactions