Peeps by @detoo
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Woke up and saw the gas crisis 😨
Yield farmers, watch out for the risks
https://twitter.com/trentelme/status/1285303011787628551?s=21
Such elegant step toward under-collateralized borrowing on #defi 🤯
https://twitter.com/stanikulechov/status/1280500969986498561?s=21
USDT is getting dominance in crypto as a fractionally reserved currency with non-auditable centralized printing. This idea sounds very familiar...
https://twitter.com/skewdotcom/status/1278611837853085696?s=21
🤯 Ethereum and economics are fun 🤯
https://insights.deribit.com/market-research/analysis-of-eip-1559/
Clear example of external force to the “algorithm”
https://twitter.com/dylanmarron/status/1268207757968076800?s=21
1 Enso
The Tale of Two Systems
https://insights.deribit.com/market-research/the-future-of-money-could-be-discretionary/
Am I looking at the future of VR concert?
https://twitter.com/mrdalekjd/status/1253468093659004928?s=21
At least #DAI has been slowly crawling back to the peg
Reading @dydxprotocol price oracle Smart Contracts for fun.
https://medium.com/@detoo/dydx-price-oracle-study-fc89d8d1c613
@MakerDAO has an admin function "suck()" which, under governance approval, expands their balance sheet by printing DAI and debt simultaneously and presumably for money operations (aka QE?). Their function naming may be controversial, but now we know how they think of QE :p
Love @TenderlyApp and their cli tools for debugging Solidity Contracts and looking at stack traces. But I'm developing mostly in Python, so I made a quick experiment and see if I can integrate their awesome tools in my workflow.
https://link.medium.com/pMtWVnGV24
Never imagined this day would come so quick, and at the same day!
https://peepeth.com/detoo/peeps/QmXngPtvsbRvSXnfdCG3uqyaGnd8efk5voJndU6JKGtAo9
@MakerDAO executive vote for adding liquidation circuit breaker and reducing GSM delay was posted 1 hour ago and passed before I could finish reading. That’s... very efficient
Balance sheet analysis for the second bZx Exploit. Solid example of what could go wrong relying on a pure, instant, on-chain price oracle when the market depth is not enough.
1 Enso
I’ve made a balance sheet to help myself understand what happened to bZx during the Valentine’s Day exploit. The exploit was quite sharp and the bug was brutal...
When @MakerDAO MCD runs a deficit, MKR is diluted as a recapitalization source and it hurts the decision makers.
When USD runs a deficit, USD is diluted (*cough* QE) and it hurts YOU.
1 Enso
Informative 4-episode read about cryptocurrency and security law, and more importantly, the ways ahead. Be aware, it’s long, but it’s fun!
https://link.medium.com/JKIkjHNjU2
Someone migrated 1M SAI through the contract and another guy emptied the pool immediately to repay their SAI debt. That was efficient!
Fed attempted QE5 on #DAI and got rejected
https://twitter.com/whale_alert/status/1195534213258321920?s=21
MakerDAO MCD (Multi-Collateral DAI) launch executive vote has been started. Expecting to see it executed and launched on Monday
https://twitter.com/makerdao/status/1195371299230474240?s=21
Replying to @detoo (0xddf48f62e07c2e9f689ae903255d090e9bb9d725)
(2/3) It is probably contributed by the growing #defi activities looking to profit from the competitive interest rates (10+% APR). There’d be easy arbitrage opportunities if the stability fee goes even lower than the average $DAI interest rate
*APY*
(3/3) Meanwhile, on the other side of the world
https://twitter.com/danheld/status/1170004244381892608?s=21
(2/3) It is probably contributed by the growing #defi activities looking to profit from the competitive interest rates (10+% APR). There’d be easy arbitrage opportunities if the stability fee goes even lower than the average $DAI interest rate
(1/3) @MakerDAO to reduce the stability fee from 18.5% to 16.5% and potentially lower in the awake of rising $DAI demand and to encourage more issuance
Winners & Losers is back!
https://twitter.com/profgalloway/status/1162156136608477187?s=21
@SlackHQ Your users are compromised for FOUR YEARS and you didn’t tell us?!
@KeybaseIO CEO tells their story about how much damage this could’ve done:
https://keybase.io/blog/slack-incident
Unlike #fed, @MakerDAO raises the interest rate when it’s necessary
https://twitter.com/makerdaibot/status/1148583274568134657?s=21
The more you know...
https://twitter.com/0xinfection/status/1148267196306427904?s=21
1 Enso
Wait.. I thought it said Ethereum??
@MakerDAO just lowered the stability fee for the first time in months after restored the peg and remained steady thereafter. Interesting to see how will the market react
Is Game of Thrones Ryan-Johnson’ed, or The Last Jedi D&D’ed?
Just my amateur observation: @MakerDAO ‘s stability fee raise over the past month seems decreasing the over-supply and approaching the $1 target rather effectively. Quite excited to see the system works and I can learn along the process
1 Enso
There was a spike in $DAI price for the past 24 hours. Probably due to the ETH dip and many are looking for shelters. CDP holders might also be buying $DAI to close their positions, but not necessarily buying from the spot market though.
I want to see @MakerDAO $DAI governance in a chart, so I build one https://daicast.info/
Replying to @detoo (0xddf48f62e07c2e9f689ae903255d090e9bb9d725)
That’s a control system’s typical reaction though: overshoot, then undershoot, then converge. Given time MKR holders will learn more from the market reaction and set the right target sooner
Oops, I hit the wrong reply button. nvm...
Replying to @detoo (0xddf48f62e07c2e9f689ae903255d090e9bb9d725)
Pretty sure that’s how the Fed works dude 🤣 If you haven’t heard of $DAI, check it out @MakerDAO
That’s a control system’s typical reaction though: overshoot, then undershoot, then converge. Given time MKR holders will learn more from the market reaction and set the right target sooner
Pretty sure that’s how the Fed works dude 🤣
If you haven’t heard of $DAI, check it out @MakerDAO
A tale of two liars: How “Amazon’s Choice” badge is likely untrustworthy and it will probably never be resolved (due to misaligned incentives)
https://thehustle.co/amazon-fake-reviews
@MakerDAO at work. Voting to raise interest rate to 11.5% in the wake of past weeks Ethereum rally
https://www.reddit.com/r/mkrgov/comments/bcfx9x/executive_vote_raise_the_stability_fee_by_4_to_a/?st=JUEGKSXO&sh=f04a3671