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Stani on why bond yields vs DeFi rates is the wrong comparison, and why DeFi rates are headed higher "These longer term bonds' rates fluctuate on a day to day basis. So you are effectively always taking duration risk when you enter into a bond position that you have...

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The Wolf Of All Streets

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24,811 Aufrufe • vor 3 Tagen •via X (Twitter)

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The Wolf Of All Streetsvor 3 Tagen

FT @StaniKulechov This clip is brought to you by @hodlwithLedn

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Brjan | AI Buildervor 3 Tagen

resharing this highlights the ongoing debate and the need for clarity in DeFi

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ELARA ♡ ̆̈vor 3 Tagen

This is a great point.

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SexyBlack✨❤️vor 3 Tagen

Stani says bond yields vs DeFi rates is the wrong comparison — DeFi rates are headed higher because you're always taking duration risk holding bonds. And honestly, you and @daytime6976 are the only two accounts I genuinely enjoy following

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"Everyone may be positioned for the wrong economy" Mark Moss says growth has stopped being rate sensitive, and the gap between what the economy and the government can tolerate is the Bitcoin case "Everyone's still the generals fighting the last war. We're waiting for 2008 to happen again. We're waiting for the debt crisis to happen, the bond market to revolt, the bond vigilantes, there's going to be a recession, the AI bubble for sure is a bubble and for sure it's going to crash." "I think all that's watching the wrong movie. My thesis is that maybe we're moving into a period where nominal growth actually stays stronger, long term rates actually go higher, higher than most people expect, but the economy keeps expanding even in that environment." "The reason is because the marginal growth engine, the growth of these companies, is less interest rate sensitive. It doesn't matter what's happening in the economy to get this growth. It doesn't care if rates go up by 50 basis points. They're spending so much money that I think we're entering an economy that's capable of tolerating higher rates." "It should have higher rates. But the interesting thing is the government can't tolerate the higher rates, and that's where Bitcoin fits in."
1:33

"Everyone may be positioned for the wrong economy" Mark Moss says growth has stopped being rate sensitive, and the gap between what the economy and the government can tolerate is the Bitcoin case "Everyone's still the generals fighting the last war. We're waiting for 2008 to happen again. We're waiting for the debt crisis to happen, the bond market to revolt, the bond vigilantes, there's going to be a recession, the AI bubble for sure is a bubble and for sure it's going to crash." "I think all that's watching the wrong movie. My thesis is that maybe we're moving into a period where nominal growth actually stays stronger, long term rates actually go higher, higher than most people expect, but the economy keeps expanding even in that environment." "The reason is because the marginal growth engine, the growth of these companies, is less interest rate sensitive. It doesn't matter what's happening in the economy to get this growth. It doesn't care if rates go up by 50 basis points. They're spending so much money that I think we're entering an economy that's capable of tolerating higher rates." "It should have higher rates. But the interesting thing is the government can't tolerate the higher rates, and that's where Bitcoin fits in."

The Wolf Of All Streets

33,995 Aufrufe • vor 23 Tagen

Fed cuts rates, Treasury buys bonds, yields still rise. This is why we buy Bitcoin. "Remember when Jerome Powell cut rates and interest rates went up instead of down? Do you remember when our Treasury Secretary announced the bond buybacks and interest rates went down for a few hours and then they went up? Do you remember today and yesterday when they announced that they would triple the amount of that and bonds interest rates went up?" "This is completely broken and the only thing everybody in politics can agree on is that fixing it is politically unpalatable and unpopular. And that they're just going to make bigger promises of more money, more stimulus, more money printing. This is why we buy Bitcoin."
0:52

Fed cuts rates, Treasury buys bonds, yields still rise. This is why we buy Bitcoin. "Remember when Jerome Powell cut rates and interest rates went up instead of down? Do you remember when our Treasury Secretary announced the bond buybacks and interest rates went down for a few hours and then they went up? Do you remember today and yesterday when they announced that they would triple the amount of that and bonds interest rates went up?" "This is completely broken and the only thing everybody in politics can agree on is that fixing it is politically unpalatable and unpopular. And that they're just going to make bigger promises of more money, more stimulus, more money printing. This is why we buy Bitcoin."

The Wolf Of All Streets

35,113 Aufrufe • vor 25 Tagen

Stani says DeFi's cost advantage lets Aave outcompete centralized lenders, and tokenized assets are next "We already see the benefits of open protocols. And what open protocols, like, are they able to do is that they are able to create wide networks." "Aave is a credit network, meaning that's when participants join the network, whether by providing liquidity or drawing liquidity against a collateral, they're simply expanding liquidity network effects." "That means that every single participant increases the depth of liquidity and the cost of capital and makes it more attractive for borrowers utilize that capital." "It makes sense to have one big liquidity network that everyone can join. By joining, they are getting the network effects of an existing network. Existing participants are getting the benefits of that network expanding." "The actual true value proposition of DeFi is to enhance the cost structure of lending and borrowing. So if we're able to outcompete more centralized versions of Aave in the crypto asset space, I think the same will happen also with these tokenized assets down the line." "Because you don't have to use the same amount of people that you would do if you would have a lending facility offchain. You don't have to have a settlement team. And that is a significant improvement there." "If something is more transparent, it means it's more easier to price the risk and reward and that should be a path to actually more accurate cost of capital as well."
3:12

Stani says DeFi's cost advantage lets Aave outcompete centralized lenders, and tokenized assets are next "We already see the benefits of open protocols. And what open protocols, like, are they able to do is that they are able to create wide networks." "Aave is a credit network, meaning that's when participants join the network, whether by providing liquidity or drawing liquidity against a collateral, they're simply expanding liquidity network effects." "That means that every single participant increases the depth of liquidity and the cost of capital and makes it more attractive for borrowers utilize that capital." "It makes sense to have one big liquidity network that everyone can join. By joining, they are getting the network effects of an existing network. Existing participants are getting the benefits of that network expanding." "The actual true value proposition of DeFi is to enhance the cost structure of lending and borrowing. So if we're able to outcompete more centralized versions of Aave in the crypto asset space, I think the same will happen also with these tokenized assets down the line." "Because you don't have to use the same amount of people that you would do if you would have a lending facility offchain. You don't have to have a settlement team. And that is a significant improvement there." "If something is more transparent, it means it's more easier to price the risk and reward and that should be a path to actually more accurate cost of capital as well."

The Wolf Of All Streets

24,479 Aufrufe • vor 3 Tagen

WARREN BUFFETT ON WHY INTEREST RATES ARE THE MOST IMPORTANT NUMBER IN INVESTING The 10-year Treasury hit 5% today for only the second time since 2007. When Buffett said this in 2017, it was at 2.15%, and he explained why that made stocks look cheap. "If you look at the 10-year government at 2.15, that means you're paying 45 times earnings when you buy that bond. And the earnings aren't going to go up." "Interest rates are to stock prices what gravity is to matter. If interest rates were nothing and they're going to be nothing forever, you'd be buying stuff that would yield you one percent or two percent." "If interest rates on the short rate are 21%, like they were in 1982 under Volcker, you can look at a stock at six times earnings and say, well, that really isn't that attractive. That's what drives valuations." At 5%, the 10-year is 20 times earnings. The gravity just got a lot stronger.
9:13

WARREN BUFFETT ON WHY INTEREST RATES ARE THE MOST IMPORTANT NUMBER IN INVESTING The 10-year Treasury hit 5% today for only the second time since 2007. When Buffett said this in 2017, it was at 2.15%, and he explained why that made stocks look cheap. "If you look at the 10-year government at 2.15, that means you're paying 45 times earnings when you buy that bond. And the earnings aren't going to go up." "Interest rates are to stock prices what gravity is to matter. If interest rates were nothing and they're going to be nothing forever, you'd be buying stuff that would yield you one percent or two percent." "If interest rates on the short rate are 21%, like they were in 1982 under Volcker, you can look at a stock at six times earnings and say, well, that really isn't that attractive. That's what drives valuations." At 5%, the 10-year is 20 times earnings. The gravity just got a lot stronger.

WOLF

183,985 Aufrufe • vor 20 Tagen

"Yields are so low across DeFi right now that they're actually not attractive to traditional investors or Wall Street. You need higher than three or four percent for it to be compelling" Ryan Rasmussen, Head of Research at Bitwise, on why DeFi yields aren't compelling to Wall Street right now "The reality is yields are so low across DeFi right now in most places that they're actually not attractive to traditional investors or to Wall Street. The perceived risk, and there is risk, of lending in DeFi is much higher than what you're being compensated for at two or three or maybe four percent. You need higher than that for it to be compelling" "That's why a lot of focus is on yield. Because there's not a lot of euphoria in onchain activity right now, you don't see the double digit stablecoin yields you typically do in bull markets. I think that's good in the sense that it's driving creativity around strategies that properly manage risk to provide enhanced yield" "But that enhanced yield isn't like 28 percent, which is the type that ultimately blows up post bull markets. It's like eight or nine percent, and that's great for a lot of investors"
1:06

"Yields are so low across DeFi right now that they're actually not attractive to traditional investors or Wall Street. You need higher than three or four percent for it to be compelling" Ryan Rasmussen, Head of Research at Bitwise, on why DeFi yields aren't compelling to Wall Street right now "The reality is yields are so low across DeFi right now in most places that they're actually not attractive to traditional investors or to Wall Street. The perceived risk, and there is risk, of lending in DeFi is much higher than what you're being compensated for at two or three or maybe four percent. You need higher than that for it to be compelling" "That's why a lot of focus is on yield. Because there's not a lot of euphoria in onchain activity right now, you don't see the double digit stablecoin yields you typically do in bull markets. I think that's good in the sense that it's driving creativity around strategies that properly manage risk to provide enhanced yield" "But that enhanced yield isn't like 28 percent, which is the type that ultimately blows up post bull markets. It's like eight or nine percent, and that's great for a lot of investors"

The Wolf Of All Streets

23,598 Aufrufe • vor 2 Monaten

"The biggest catalyst for tokenized assets is being able to use them as collateral." Stani says non-US users can now borrow USDC against tokenized Apple, Tesla, and other big tech stocks 24/7 on Base "What's actually happening here is that this is an Aave market deployed on Base where you can use Coinbase tokenized stocks as collateral on Aave and borrow USDC. The collateral that can be used is tokenized versions of Apple, Amazon, Google, Meta, Microsoft, and Tesla." "For non-US users, you can actually borrow on a 24/7 basis, whether that's during trading hours, outside trading hours, or over the weekend, with efficient loan to value ratios and interest rates." "This is why I'm super excited, because we're entering into a world where we're using decentralized protocols and DeFi in the context of traditional assets that are coming onchain." "The reason why it's possible, from a technical point of view, is that now you actually have access to price feeds that are 24/7. With perpetual futures, a crypto native innovation, you actually have markets for stocks outside of typical trading hours." "You can use that data to price these assets as collateral outside of trading hours and over the weekend, and adjust parameters based on that data. That's why it's available today." "This is a significant milestone. It means we're able to bring more and more assets onchain and make them productive by using them as collateral."
2:23

"The biggest catalyst for tokenized assets is being able to use them as collateral." Stani says non-US users can now borrow USDC against tokenized Apple, Tesla, and other big tech stocks 24/7 on Base "What's actually happening here is that this is an Aave market deployed on Base where you can use Coinbase tokenized stocks as collateral on Aave and borrow USDC. The collateral that can be used is tokenized versions of Apple, Amazon, Google, Meta, Microsoft, and Tesla." "For non-US users, you can actually borrow on a 24/7 basis, whether that's during trading hours, outside trading hours, or over the weekend, with efficient loan to value ratios and interest rates." "This is why I'm super excited, because we're entering into a world where we're using decentralized protocols and DeFi in the context of traditional assets that are coming onchain." "The reason why it's possible, from a technical point of view, is that now you actually have access to price feeds that are 24/7. With perpetual futures, a crypto native innovation, you actually have markets for stocks outside of typical trading hours." "You can use that data to price these assets as collateral outside of trading hours and over the weekend, and adjust parameters based on that data. That's why it's available today." "This is a significant milestone. It means we're able to bring more and more assets onchain and make them productive by using them as collateral."

The Wolf Of All Streets

25,708 Aufrufe • vor 3 Tagen

The bond market no longer responds to the Fed or the Treasury "We have, for the first time in decades, 10-year yields have surpassed 5%." "Remember, Powell cut rates and we started a rate cutting cycle. That should have sent those yields down. It didn't." "We have Bessent trying to talk yields down by bond market intervention. That has not worked. The bond vigilantes are not believing any of this. And to be quite frank, I don't think they believe a 25 bip rate hike either." "I think that the Fed is largely neutered here. Nothing they do short of raising a full point or two points, or doing something extremely aggressive which obviously is not even in the cards, would even affect the market." "So I actually think if they hike rates, we'll probably see some temporary relief and then rates will once again rise, which is what's happened every time that they've tried to intervene."
0:59

The bond market no longer responds to the Fed or the Treasury "We have, for the first time in decades, 10-year yields have surpassed 5%." "Remember, Powell cut rates and we started a rate cutting cycle. That should have sent those yields down. It didn't." "We have Bessent trying to talk yields down by bond market intervention. That has not worked. The bond vigilantes are not believing any of this. And to be quite frank, I don't think they believe a 25 bip rate hike either." "I think that the Fed is largely neutered here. Nothing they do short of raising a full point or two points, or doing something extremely aggressive which obviously is not even in the cards, would even affect the market." "So I actually think if they hike rates, we'll probably see some temporary relief and then rates will once again rise, which is what's happened every time that they've tried to intervene."

The Wolf Of All Streets

30,884 Aufrufe • vor 20 Tagen

A hike could be painful now but stabilizing later, and a hold could feel bullish while making things worse "When rates go up, people generally view it as a risk to risk assets because liquidity tightens, which by the way, the bond market is already doing for them anyway, which is why we talk about fiscal dominance." "But there is a world where a credible rate hike, without saying there's going to be a ton of hikes or a new cycle, if he gives an indication there might just be one hike and it could help manage inflation, and inflation is temporary because of diesel and gas prices, that kind of thing." "That could actually calm the longer term yields that Bessent is so concerned about, and that could eventually create room for cuts." "If we get an indication that we're going into a hiking cycle, I would say that all bets are off here." "Bessent wants one thing, Trump wants one thing, the market is pricing it in, and it could get very, very strange." "A hike could be painful now, but it could actually be stabilizing later. And a hold on rates could feel bullish while making the long term credibility problem worse."
1:18

A hike could be painful now but stabilizing later, and a hold could feel bullish while making things worse "When rates go up, people generally view it as a risk to risk assets because liquidity tightens, which by the way, the bond market is already doing for them anyway, which is why we talk about fiscal dominance." "But there is a world where a credible rate hike, without saying there's going to be a ton of hikes or a new cycle, if he gives an indication there might just be one hike and it could help manage inflation, and inflation is temporary because of diesel and gas prices, that kind of thing." "That could actually calm the longer term yields that Bessent is so concerned about, and that could eventually create room for cuts." "If we get an indication that we're going into a hiking cycle, I would say that all bets are off here." "Bessent wants one thing, Trump wants one thing, the market is pricing it in, and it could get very, very strange." "A hike could be painful now, but it could actually be stabilizing later. And a hold on rates could feel bullish while making the long term credibility problem worse."

The Wolf Of All Streets

20,362 Aufrufe • vor 19 Tagen

Bill Ackman went on Money Rehab and explained why rates are the quiet risk nobody's pricing in. The government is running a deficit and financing it with treasury bonds. Meanwhile companies that used to buy back their own stock are issuing debt to fund the AI infrastructure boom. "There's a huge demand for credit at a time when the government itself is also issuing more and more of its own bonds." All that supply has to get absorbed by investors. That pushes rates up. And rates going up is one of the two things he's watching.
2:35

Bill Ackman went on Money Rehab and explained why rates are the quiet risk nobody's pricing in. The government is running a deficit and financing it with treasury bonds. Meanwhile companies that used to buy back their own stock are issuing debt to fund the AI infrastructure boom. "There's a huge demand for credit at a time when the government itself is also issuing more and more of its own bonds." All that supply has to get absorbed by investors. That pushes rates up. And rates going up is one of the two things he's watching.

Nicole Lapin

12,842 Aufrufe • vor 1 Monat

Prof. Steve Hanke: ‘STAY AWAY from long-term US bonds, Scott Bessent has no escape from the trap he is in and has LOST CREDIBILITY.’ ‘I wouldn’t want to be holding long-term US bonds. If I was a private investor, I wouldn’t want to be holding and I’ve indicated now for months to stay away from the bond market in terms of long-term bonds… 10 years or longer, like 30 years, becauseI said they would be tanking and they have been tanking, but part of it is due to this inflation underlying problem. Increase the money supply too much and you get too much inflation. That’s one factor. Then you have what’s going on with the war in Iran, as well as the one in Ukraine, and those factors are negative for these long-term bonds. And then a third factor, you’ve got the US Secretary of Treasury Bessent who’s trying to manipulate the markets by buying and supporting these long-term bonds. So he’s buying back long-term bonds that are already outstanding, and of course that artificially props the price up and pushes the yield down on those long-term bonds, but the trick is he’s still got to finance the deficit that we’re running in the United States, which means he has to sell more of the short-term bonds. And when you sell more, the supply goes up, the price goes down, and what happens? Bingo, the yield goes up on the short-term bonds. So there’s no escape from the trap that he’s in. He’s manipulating the thing around. He’s trying to keep the interest rates artificially low on the long-term bonds, but that means he must adjust and push them up on the short end. So it’s all a loser’s game. It’s as I say, he’s trapped and he’s lost a considerable amount of credibility, I think, by trying this manipulation game that he’s in, which by the way is not working. The bond vigilantes don’t like what he’s up to, and they punished him last week by actually going against what he was doing on those long-term bonds. The long-term interest rate didn’t go down as he announced that it would, it actually went up.’ —Steve Hanke on the latest episode of Going Underground Watch the full interview in the quoted post below 👇
2:43

Prof. Steve Hanke: ‘STAY AWAY from long-term US bonds, Scott Bessent has no escape from the trap he is in and has LOST CREDIBILITY.’ ‘I wouldn’t want to be holding long-term US bonds. If I was a private investor, I wouldn’t want to be holding and I’ve indicated now for months to stay away from the bond market in terms of long-term bonds… 10 years or longer, like 30 years, becauseI said they would be tanking and they have been tanking, but part of it is due to this inflation underlying problem. Increase the money supply too much and you get too much inflation. That’s one factor. Then you have what’s going on with the war in Iran, as well as the one in Ukraine, and those factors are negative for these long-term bonds. And then a third factor, you’ve got the US Secretary of Treasury Bessent who’s trying to manipulate the markets by buying and supporting these long-term bonds. So he’s buying back long-term bonds that are already outstanding, and of course that artificially props the price up and pushes the yield down on those long-term bonds, but the trick is he’s still got to finance the deficit that we’re running in the United States, which means he has to sell more of the short-term bonds. And when you sell more, the supply goes up, the price goes down, and what happens? Bingo, the yield goes up on the short-term bonds. So there’s no escape from the trap that he’s in. He’s manipulating the thing around. He’s trying to keep the interest rates artificially low on the long-term bonds, but that means he must adjust and push them up on the short end. So it’s all a loser’s game. It’s as I say, he’s trapped and he’s lost a considerable amount of credibility, I think, by trying this manipulation game that he’s in, which by the way is not working. The bond vigilantes don’t like what he’s up to, and they punished him last week by actually going against what he was doing on those long-term bonds. The long-term interest rate didn’t go down as he announced that it would, it actually went up.’ —Steve Hanke on the latest episode of Going Underground Watch the full interview in the quoted post below 👇

Going Underground

14,779 Aufrufe • vor 14 Tagen

Final Warning: Fixed Mortgage Rates Headed Up The War in the Middle East is ON AGAIN & Canada Bond Yields rise the longer it continues I get that the US Treasury can manipulate oil prices I get there's a new: "They're begging for a truce" story daily But War = Higher Rates
2:33

Final Warning: Fixed Mortgage Rates Headed Up The War in the Middle East is ON AGAIN & Canada Bond Yields rise the longer it continues I get that the US Treasury can manipulate oil prices I get there's a new: "They're begging for a truce" story daily But War = Higher Rates

Ron Butler

24,466 Aufrufe • vor 2 Monaten

The next time this market cracks, nobody is coming to save you. When markets got in trouble, the Fed showed up. More liquidity. Buy the dip, wait for the cavalry, you're a genius. But that game is OVER. When the Fed creates liquidity, the money that doesn't get sucked up by the real economy sloshes into stocks. That's been happening since 2009. But guess what? Right now the real economy IS sucking it up, because growth is okay and prices are rising. So there's a lot less left over for your portfolio. My good friend Michael Howell, the Liquidity King, has called the turns better than anybody alive, and he went cautious back in January for exactly this reason. The termites are eating away underneath this market and nobody wants to look. The proof: We've had a war. Bond yields go DOWN in a war. That's what's supposed to happen. But instead they're UP 40 basis points since it started. And look at the math on Washington: They pull in around five trillion a year and they spend seven and a half. They already owe $40 trillion, and that's before you get to the $125 trillion in off-balance-sheet promises nobody wants to discuss. Now imagine that borrower walks up to you and asks you to lend him money for 10 years at 4.5%, while inflation is running north of 3 and rising. You'd have to be brain dead to take that deal. That's exactly why yields are grinding higher, not lower, and if you ask me they belong closer to five and a half or six. Rates are too low, and the whole world knows it. And don't forget Japan, the biggest creditor nation on the planet, just saw its bond yields blow out to a 30 year high. When Japanese rates go up, all that money that's been funding OUR markets starts heading home. The 60/40 portfolio is built for a world that's gone. Bonds don't protect you when the whole problem IS the money getting debased - they get shot first. What actually hedges you now is the stuff they can't print: Gold and energy. The safety net is gone, and the margin for error with it.
3:04

The next time this market cracks, nobody is coming to save you. When markets got in trouble, the Fed showed up. More liquidity. Buy the dip, wait for the cavalry, you're a genius. But that game is OVER. When the Fed creates liquidity, the money that doesn't get sucked up by the real economy sloshes into stocks. That's been happening since 2009. But guess what? Right now the real economy IS sucking it up, because growth is okay and prices are rising. So there's a lot less left over for your portfolio. My good friend Michael Howell, the Liquidity King, has called the turns better than anybody alive, and he went cautious back in January for exactly this reason. The termites are eating away underneath this market and nobody wants to look. The proof: We've had a war. Bond yields go DOWN in a war. That's what's supposed to happen. But instead they're UP 40 basis points since it started. And look at the math on Washington: They pull in around five trillion a year and they spend seven and a half. They already owe $40 trillion, and that's before you get to the $125 trillion in off-balance-sheet promises nobody wants to discuss. Now imagine that borrower walks up to you and asks you to lend him money for 10 years at 4.5%, while inflation is running north of 3 and rising. You'd have to be brain dead to take that deal. That's exactly why yields are grinding higher, not lower, and if you ask me they belong closer to five and a half or six. Rates are too low, and the whole world knows it. And don't forget Japan, the biggest creditor nation on the planet, just saw its bond yields blow out to a 30 year high. When Japanese rates go up, all that money that's been funding OUR markets starts heading home. The 60/40 portfolio is built for a world that's gone. Bonds don't protect you when the whole problem IS the money getting debased - they get shot first. What actually hedges you now is the stuff they can't print: Gold and energy. The safety net is gone, and the margin for error with it.

George Noble

110,660 Aufrufe • vor 2 Monaten

When Treasury starts buying its own bonds, the Fed stops being the story "What the Fed does is effectively irrelevant right now. This is clearly a step towards fiscal dominance, to have these bond buybacks. But the Fed needs to cut rates, if you believe that the bond market would actually believe it" "Remember, when Powell cut rates, yields went up. So it didn't have exactly the desired effect. But if you believe it would operate the way it should, they cut rates, they can refinance some of this debt that's coming due, not go from paying 2% or 3% to paying 4% or 5%, and try to bring down the debt service" "Right now the debt service is the largest line item on our budget sheet, and it is only growing rapidly" "That's why we Bitcoin. This is absurd. It's a completely broken system that we are living within, and good luck trying to fix it"
0:51

When Treasury starts buying its own bonds, the Fed stops being the story "What the Fed does is effectively irrelevant right now. This is clearly a step towards fiscal dominance, to have these bond buybacks. But the Fed needs to cut rates, if you believe that the bond market would actually believe it" "Remember, when Powell cut rates, yields went up. So it didn't have exactly the desired effect. But if you believe it would operate the way it should, they cut rates, they can refinance some of this debt that's coming due, not go from paying 2% or 3% to paying 4% or 5%, and try to bring down the debt service" "Right now the debt service is the largest line item on our budget sheet, and it is only growing rapidly" "That's why we Bitcoin. This is absurd. It's a completely broken system that we are living within, and good luck trying to fix it"

The Wolf Of All Streets

25,597 Aufrufe • vor 1 Monat

Rune Christensen, Co-Founder of Sky (Sky), on USDS, STUSDS, and risk tiers in DeFi "Lindy, like stablecoin product with a really really reasonable rate of return" "right now it's at 3.75%, which is actually 10 points above SOFR" "a lot of people dunking on DeFi for not being able to beat TradFi, but USDS does in fact still beat TradFi and is very much highly risk optimized" "with Sky you can also use a product like STUSDS, which is a higher risk token that still has this link to the US dollar" "you can actually go even more high risk and buy something like SPK, which is a completely volatile governance token of one of the Sky agents" "STUSDS, because it's a risk token and it's explicitly marketed as risk capital, it's for advanced users because it has higher risk" "it's not just a stablecoin that is designed to protect you above everything else" "with STUSDS it's also about being able to offer a higher rate of return" "one of the consequences of this is that it can have its liquidity, its one to one liquidity with USDS frozen"
1:20

Rune Christensen, Co-Founder of Sky (Sky), on USDS, STUSDS, and risk tiers in DeFi "Lindy, like stablecoin product with a really really reasonable rate of return" "right now it's at 3.75%, which is actually 10 points above SOFR" "a lot of people dunking on DeFi for not being able to beat TradFi, but USDS does in fact still beat TradFi and is very much highly risk optimized" "with Sky you can also use a product like STUSDS, which is a higher risk token that still has this link to the US dollar" "you can actually go even more high risk and buy something like SPK, which is a completely volatile governance token of one of the Sky agents" "STUSDS, because it's a risk token and it's explicitly marketed as risk capital, it's for advanced users because it has higher risk" "it's not just a stablecoin that is designed to protect you above everything else" "with STUSDS it's also about being able to offer a higher rate of return" "one of the consequences of this is that it can have its liquidity, its one to one liquidity with USDS frozen"

Frontliner 💯

75,006 Aufrufe • vor 5 Monaten

Peter Thiel on how you should think about your future: "What you end up doing when you think of the future as indefinite is you pick a job that you think will look good on your resume, because it will lead to a different job later on. There's even a credentialing version where you go to grad school, you get a consulting job, and you think of it as this branching tree diagram where you never really do something that you want to do. You can think of the future on three horizons. Very short-term is: are you going to be happy, and will you be learning a lot? Medium-term is: how good is it on your resume? And very long-term is: are you working on something important or meaningful? We're in a skewed world where we overweight the medium-term and underweight some combination of the short-term and the long-term. I would recalibrate to focus on the short-term and the long-term, and forget about the medium-term."
1:01

Peter Thiel on how you should think about your future: "What you end up doing when you think of the future as indefinite is you pick a job that you think will look good on your resume, because it will lead to a different job later on. There's even a credentialing version where you go to grad school, you get a consulting job, and you think of it as this branching tree diagram where you never really do something that you want to do. You can think of the future on three horizons. Very short-term is: are you going to be happy, and will you be learning a lot? Medium-term is: how good is it on your resume? And very long-term is: are you working on something important or meaningful? We're in a skewed world where we overweight the medium-term and underweight some combination of the short-term and the long-term. I would recalibrate to focus on the short-term and the long-term, and forget about the medium-term."

Startup Wisdom

1,090,562 Aufrufe • vor 1 Tag

A DEX becomes a lot more interesting to me when the question is not only: “What can I trade here?” But also: “Can I actually contribute liquidity here?” That is one part of RivrDEX I think deserves more attention. RivrDEX is permissionless, so you are not limited to simply using the liquidity that is already available. You can add liquidity to a pool, receive LP tokens, and earn a share of the trading fees. It changes the way I look at a DEX. You are not just a trader using someone else’s liquidity. You can also become part of the liquidity behind the market. For smaller markets especially, having an open way to provide liquidity without going through a centralized platform feels pretty important. Trade with the liquidity that is there. Or help build it. That is a much more interesting idea to me.
0:48

A DEX becomes a lot more interesting to me when the question is not only: “What can I trade here?” But also: “Can I actually contribute liquidity here?” That is one part of RivrDEX I think deserves more attention. RivrDEX is permissionless, so you are not limited to simply using the liquidity that is already available. You can add liquidity to a pool, receive LP tokens, and earn a share of the trading fees. It changes the way I look at a DEX. You are not just a trader using someone else’s liquidity. You can also become part of the liquidity behind the market. For smaller markets especially, having an open way to provide liquidity without going through a centralized platform feels pretty important. Trade with the liquidity that is there. Or help build it. That is a much more interesting idea to me.

Rhyne

15,607 Aufrufe • vor 1 Monat

Mikel Arteta on how he handles transfer speculation with his players: "Very simple. Whatever you read, if you have a question, come and knock on my door and I will tell you whether it is true or not. If we put now the catalogue on all these walls about all the players that we wanted in the last three months, I think we need the whole building to put it on. So I think they know that there's so much speculation with a lot of players. "If ever they feel the doubt of what we think of them and if we're going to recruit a player, I tell them straight away. Normally I do it - so, 'we're going to sign somebody in their position', and normally tell them that these are the plans and these are the reasons why we have the plans. 'We still believe the same in you, but the competition is going to increase.' I prefer to do it that way."
0:49

Mikel Arteta on how he handles transfer speculation with his players: "Very simple. Whatever you read, if you have a question, come and knock on my door and I will tell you whether it is true or not. If we put now the catalogue on all these walls about all the players that we wanted in the last three months, I think we need the whole building to put it on. So I think they know that there's so much speculation with a lot of players. "If ever they feel the doubt of what we think of them and if we're going to recruit a player, I tell them straight away. Normally I do it - so, 'we're going to sign somebody in their position', and normally tell them that these are the plans and these are the reasons why we have the plans. 'We still believe the same in you, but the competition is going to increase.' I prefer to do it that way."

Connor Humm

179,646 Aufrufe • vor 1 Monat