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Monteluna
@monteluna
/cryptobanking Monday Updates. # Floating Credit (Floatcoins) The past few months I've been watching RAI-like stablecoins, and while they appear to be working as intended, I've been worried that the rates would continue to remain high and stifle growth. No one really wants to mint new credit at the moment if the long term interest rates remain high. Previous market caps of @open-dollar and @letsgethai haven't returned to pre-Yen unwind levels with these high rates (19% and 32% APY). RAI has also been down only in market cap. For spot holders of $HAI and $OD, the rate increases appear to be locked in for a fairly long time, making both HAI and OD very good treasury assets for protocols and users who want an easy to earn yield. Also a fun one, OHM is **still** going up! There is currently a large spread between OHM price and it's underlying as OHM is now 27% over NAV.
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