Forwarded from Cookie Reads 🍪
Binance's report on LSDfi. A good breakdown of the current LSDfi ecosystem
State of LSD-Fi
· Total ETH staked surpassed 22.8mil ETH
· Liquid staking balances (from liquid staking providers) have grown alongside overall staking market: Currently Lido is the largest player with 28.9% market share
· Breakdown of ETH staking providers' market share
Financialization of LSDs through LSDfi
· Earning additional yield on top of base staking rate
LSDfi Ecosystem
· Concentrated, with top 5 players having > 81% total staked TVL
· Lybra: Market leader
· Types of LSDfi
(a) DeFi liquid staking providers: DeFi providers that enable users to stake and receive LSDs in return
(b) CEX liquid staking providers: CEXs that offer liquid staking services
(c) CDP stablecoins: Protocols that allow users to mint stablecoins using LSDs as collateral
(d) Index LSDs: Tokens that represent a stake in a basket of LSDs
(e) Yield strategies: Protocols that enable users to access additional yield opportunities
(f) Money market: Protocols that facilitate lending and borrowing using LSDs
Growth of LSDfi
· LSDfi protocols have seen exponential growth since mid-May
· Huge space for LSDfi protocols to grow
Tailwind 1: Staked ETH Growth
· Current ETH staking ratio: 16.1%, significantly lower than average of 58.1% of the top 20 PoS chains
· ETH staking ratio: Likely to increase with Shapella allowing stakers to exit their position at any time
· Influx of staked ETH: Positive catalyst and structural tailwind for LSD and LSDfi protocols
Tailwind 2: LSDfi Penetration
· LSDfi penetration is still low
· LSDfi TVL: < 3% of total addressable market
Risks of LSDfi
· Slashing risks: Penalties for failing to achieve certain staking parameters
· LSD price risks: Liquid staking token prices may fluctuate and differ from underlying token
· Smart contract risks
· 3rd party risks
https://research.binance.com/static/pdf/lsdfi-when-liquid-staking-meets-defi.pdf
Tag: Binance report, LSD, LSD-Fi
State of LSD-Fi
· Total ETH staked surpassed 22.8mil ETH
· Liquid staking balances (from liquid staking providers) have grown alongside overall staking market: Currently Lido is the largest player with 28.9% market share
· Breakdown of ETH staking providers' market share
Financialization of LSDs through LSDfi
· Earning additional yield on top of base staking rate
LSDfi Ecosystem
· Concentrated, with top 5 players having > 81% total staked TVL
· Lybra: Market leader
· Types of LSDfi
(a) DeFi liquid staking providers: DeFi providers that enable users to stake and receive LSDs in return
(b) CEX liquid staking providers: CEXs that offer liquid staking services
(c) CDP stablecoins: Protocols that allow users to mint stablecoins using LSDs as collateral
(d) Index LSDs: Tokens that represent a stake in a basket of LSDs
(e) Yield strategies: Protocols that enable users to access additional yield opportunities
(f) Money market: Protocols that facilitate lending and borrowing using LSDs
Growth of LSDfi
· LSDfi protocols have seen exponential growth since mid-May
· Huge space for LSDfi protocols to grow
Tailwind 1: Staked ETH Growth
· Current ETH staking ratio: 16.1%, significantly lower than average of 58.1% of the top 20 PoS chains
· ETH staking ratio: Likely to increase with Shapella allowing stakers to exit their position at any time
· Influx of staked ETH: Positive catalyst and structural tailwind for LSD and LSDfi protocols
Tailwind 2: LSDfi Penetration
· LSDfi penetration is still low
· LSDfi TVL: < 3% of total addressable market
Risks of LSDfi
· Slashing risks: Penalties for failing to achieve certain staking parameters
· LSD price risks: Liquid staking token prices may fluctuate and differ from underlying token
· Smart contract risks
· 3rd party risks
https://research.binance.com/static/pdf/lsdfi-when-liquid-staking-meets-defi.pdf
Tag: Binance report, LSD, LSD-Fi
Mozaic Finance, an early stage automatic yield farming protocol powered by AI and L0
edge: runs an AI dubbed Archimedes that seeks yield across all supported chains
Archimedes will rebalance, reallocate, and compound if required
basically you park your funds in their vaults and forget about it while Archimedes hunts yield for you
based on test runs, Archimedes has shown a 9.31% competitive edge over the average public farmer
community sale TBA, while airdrop is confirmed but TBA as well
worth keeping tabs on
#tabs (introducing new hashtag here to periodically check back on projects i'm watching)
https://docs.mozaic.finance/archimedes/ai-fi
edge: runs an AI dubbed Archimedes that seeks yield across all supported chains
Archimedes will rebalance, reallocate, and compound if required
basically you park your funds in their vaults and forget about it while Archimedes hunts yield for you
based on test runs, Archimedes has shown a 9.31% competitive edge over the average public farmer
community sale TBA, while airdrop is confirmed but TBA as well
worth keeping tabs on
#tabs (introducing new hashtag here to periodically check back on projects i'm watching)
https://docs.mozaic.finance/archimedes/ai-fi
docs.mozaic.finance
Ai-Fi | Mozaic
Efficient and automatic yield farming decisions.
Forwarded from infinityhedge
BNB Chain has launched opBNB, an EVM-compatible Layer 2 network, on testnet.
opBNB is based on the Optimism OP Stack.
The current speed of its Layer 1 network BNB Smart Chain is about 2,000 transactions per speed, and the average cost per transaction is around $0.109 while opBNB, however, will support over 4,000 transactions per second and cost less than $0.005 per transaction on average.
// TheBlock reports
opBNB is based on the Optimism OP Stack.
The current speed of its Layer 1 network BNB Smart Chain is about 2,000 transactions per speed, and the average cost per transaction is around $0.109 while opBNB, however, will support over 4,000 transactions per second and cost less than $0.005 per transaction on average.
// TheBlock reports
infinityhedge
BNB Chain has launched opBNB, an EVM-compatible Layer 2 network, on testnet. opBNB is based on the Optimism OP Stack. The current speed of its Layer 1 network BNB Smart Chain is about 2,000 transactions per speed, and the average cost per transaction is…
it’s a fork of OP btw it doesn’t run on the current OP
https://www.theblock.co/post/235401/bnb-chain-opbnb-testnet-evm-compatible
https://www.theblock.co/post/235401/bnb-chain-opbnb-testnet-evm-compatible
The Block
BNB Chain launches EVM-compatible Layer 2 network opBNB on testnet
BNB Chain has launched opBNB — a Layer 2 network based on the Optimism tech stack that uses optimistic proofs — on testnet.
"is BNB that popular that they need an L2?"
https://twitter.com/adamscochran/status/1670791019573440514?s=20
https://twitter.com/adamscochran/status/1670791019573440514?s=20
Twitter
lmao
BNB chain hit scaling issues because they centralized an ETH fork & turned up the gas limit to unsafe level
The solution apparently is fork OP, lower batch time, crank up the gas batching limit, &put that on top of the first faulty centralized chain…
BNB chain hit scaling issues because they centralized an ETH fork & turned up the gas limit to unsafe level
The solution apparently is fork OP, lower batch time, crank up the gas batching limit, &put that on top of the first faulty centralized chain…
Forwarded from Cookie Reads 🍪
Crypto and macro calendar by DefiLlama
Includes key events such as:
• Token unlocks
• Halvings
• Macro events: FOMC etc.
https://defillama.com/calendar
Includes key events such as:
• Token unlocks
• Halvings
• Macro events: FOMC etc.
https://defillama.com/calendar
🔥1
wyckoff accumulation
a pattern seen when manipulation by composite operators/market makers happen
battle tested and one of the most accurate signs when identified correctly imo
https://twitter.com/alemzadehc/status/1669800770412195840?s=21&t=Tuonn0HbQ1EzuXL5ua5D1g
a pattern seen when manipulation by composite operators/market makers happen
battle tested and one of the most accurate signs when identified correctly imo
https://twitter.com/alemzadehc/status/1669800770412195840?s=21&t=Tuonn0HbQ1EzuXL5ua5D1g
Twitter
#BTC Weekly:
Lot’s of time left to accumulate circa October 2020
Ummm….yeah
Lot’s of time left to accumulate circa October 2020
Ummm….yeah
Crypto Mumbles
descending broadening wedge seems to be forming upside break with strength and we go for 29k a breakdown and we’ll see 24k and lower bids are strong at 25k support so i think if we do head down it’ll be another wave and reaccumulation clear insider trading…
correct so far but let's see how high we'll go
since then, we've seen one additional wave downwards to reaccumulate at 25k where the strong bids are before heading up
will be shaving profits slowly on longs with trailing stops
btc.d is >50% so get out of alts for now
since then, we've seen one additional wave downwards to reaccumulate at 25k where the strong bids are before heading up
will be shaving profits slowly on longs with trailing stops
btc.d is >50% so get out of alts for now
bringing back this GCR golden tip
"Within alt cycles, you should crank up risk when the trend first reverses, and begin to gradually protect capital as time passes
People lose because they do the exact opposite;slow early, and increasingly greedy with time"
https://twitter.com/GCRClassic/status/1621989687878369282?s=20
"Within alt cycles, you should crank up risk when the trend first reverses, and begin to gradually protect capital as time passes
People lose because they do the exact opposite;slow early, and increasingly greedy with time"
https://twitter.com/GCRClassic/status/1621989687878369282?s=20
X (formerly Twitter)
GCR (@GCRClassic) on X
General trading principle as we watch meme tokens pump
Within alt cycles, you should crank up risk when the trend first reverses, and begin to gradually protect capital as time passes
People lose because they do the exact opposite;slow early, and increasingly…
Within alt cycles, you should crank up risk when the trend first reverses, and begin to gradually protect capital as time passes
People lose because they do the exact opposite;slow early, and increasingly…