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zain
@zain
n00b question, why is the difference between ETH / SOL staking rate and average borrow APY close to 65%? Would expect that difference to be much smaller due to people taking advantage of the arbitrage through products like Kamino Multiply. (e.g - ETH staking rate ~3.3%, borrow APY ~2%)
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zain
@zain
Yes, there should be a risk premium over staking - but the spread still feels too large, what am I missing?
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zain
@zain
ok best guess: arb bots lowering LTV to mitigate liquidation risk given recent volatility
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