Seraphim

reading up incident reports from chaos labs, kelp, aave, layerzero and their conclusion is…
it’s absolutely NO ONE’S FAULT?
surely someone should bear SOME responsibility

some chernobyl level negligence occurred leading to this clusterfuck
i can assure you everyone is getting sued to smithereens
defi will survive but will either shrink or shift to cedefi and p2p lending

ngl feels like defi’s lehman moment

if this doesn’t resolve quickly it may be time to call tether and ask for a bailout
they will ask to give preferential ltvs to usdt and it might not be a bad thing

one viable course of action to save defi:
1. kelp rugs l2 rseth holders to save aave on mainnet
2. protocols listed as collateral pause all oft transfers until dvn is upgraded and rate limiting is added
3. hope lenders return

you can borrow stables against $500m of BTC today at 5-8% fixed for 3-6 months depending on your risk profile in CeFi
DeFi needs to offer more to compete with that namely:
- less counterparty risk
- fixed rates
- integration with custodians
rn is a defining moment to do it

goldman sachs bankers already working on setting up a lending market vs aWETH i hear

1/1 dvn my fucking ass
not so diversified is it

“ive been speaking all day with institutions and they’ve never been more bullish on defi”
guy who been talking to fidelity support chatbot

discounted WETH on Aave hitting the otc market

we are back to making money

an organization’s success is contingent upon the right mix of chinese and jewish people in the workforce

kamino has $180m in USDC supplied but only $7m in USDT in the main market
i think it’s time to let tether whales know that solana lending markets would love more USDT
happy to walk through what you can do with it