dazay
@zhopka444
194 Following
93 Followers
GM Degens,
I know the recent bans didn’t sit well with everyone. We used a rule-based approach to target sybils, but it’s a tough battle, and we’re just two people. If you got caught in the crossfire, I’m sorry. There was collateral damage, but we also hit a lot of big farmers.
These decisions aren’t easy, but they’re made for the community’s long-term health. If you’re feeling discouraged, I get it. Tipping was meant to be fun—sharing memes, onboarding new users—not a paycheck.
Let’s bring back that energy: meme, create, and enjoy the space without stressing over prices. Moving forward, we’ll act on community reports and evidence instead of broad rules. Policing isn’t fun, but without it, some ruin the game for everyone.
Let’s keep it fun—don’t use $DEGEN to pay rent. Create, share, and help us go viral. 106 replies
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Always been a huge supporter of Polygon. They paved the way for so much in our industry, inclusive of front-running ZK to viability about 5yrs before its time.
However, their new proposal is shocking. For anyone unaware, they're looking to essentially use all the stables on the polygon bridge ($1.3b), put it into yield farms, and then use the yield earned to fund polygon projects of their choosing.
For those of you who have been around a while: yes, exactly what caused FTX.
However, even if we were to assume good faith behaviour, the risks are absolutely systemic. All it'd take is one pool getting drained, and then you've got a bank rush on a completely synthetic asset ("loaned" stables) trying to get out of the bridge.
Protocols like Aave (50% of the TVL on Polygon) are also rekt, because they were lending out that same synthetic asset.
The idea of moving away from banks to self-custody, only to have a chain lend out my assets is just alien to me. 11 replies
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