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Main Channel t.me/blockchain_lobsters
Sad that it doesn't include some more precise numbers, you know, for any hyphotetical token holder affected to do better financial planning
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We are even doing the Aave governance voting on Polygon, it is just ridiculous
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The discourse of Aave being anti-competitive is a bit ridiculous, even more on this case. Aave is on Polygon since basically the very beginning of Polygon almost, and using its Safety Module on v3 Polygon
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> They pushed for a similar proposal themselves
Aave really didn't push anything officially on the dao, and I would have been first to very clearly say why is a bad idea. Maybe people should think a bit more why Aave never proposed this on the last like 5 years
Honestly it depends on risk profile. Do I find it fine if a bridge lands their ETH in stETH? Yes (might be tiny bit biased here) but would I sleep if it goes to Frax? No.
Should it be extra layer than plain liquid staking? Probably not at this point of time.
For stables it gets trickier as it needs lending or there is no yield and this can't be YOLO managed 🙂
EOD your local bank does the same with your FIAT.
2008. was a nice indicator what can go wrong. Slow down and battle test stuff would be the key before every bridge and DeFi protocol out there starts riding the rehypothecation narrative with generating syntetic of a syntetics syntetic to cause stables depeg 🙂
don’t think anything weird and quite normal many protocol make proposal what not normal is then protocol that didn’t make proposal ends up moving forward to next stage
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for better or for worse, at least this still happens in the open
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Ah this, well BD gotta BD. If this sharade passes, then let at least parts of the % go into risk-diversified protocols, not all in one basket for Polygon.
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i guess it depends on how the wrapped asset earns yield, but if it's smth like 4626, you'd get the yield out when you bridge out etc right
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And if you already hold that risk, why would you then give those $$ to a bridge. That yield is yours then. Yours = as a bridgor
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That means you are opting (forcing) users into those risks?
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why not (as the L2) encourage bridging / adoption of wrapped yield bearing assets directly
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The situation here is actually very simple: somebody is a paying a bill to make this happening. So it is just a matter of disclosing who does and why -> everybody happy
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neither tbh.
I think its a horrible idea to rehypoticate assets like that and it can cause significant risk. So I get Aave not having it and taking preperations to leave if it passes.
They pushed for a similar proposal themselves though but instead of using Morpho it would use Aave.
Something arguably similar happened with regards to sUSDe. They were very vocal about the risk on nature of it but somehow those worries went away when they onboardeed it on Aave. They argue the "risk framework" is different but it makes one wonder what the true intentions are.
It feels in general Aave is using protectionistic tactics to remain dominant even going as far as excluding users of "non-aligned" protocols from reward programs. Imagine not receiving your airline miles program points because you also use a competing airline from time to time. That would probably be illegal even.
Anyway, I really like both protocols but I sometimes hope we could play a little nicer and not let our association with a certain protocol cloud our judgement.
the whole point of defi is this .
every where else in the world this type of deal just happens
and was a while process that we get to watch with popcorn
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barely remember that thats still this year, feels like a cycle ago
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technically manta was earlier to try the "new paradigm" campaign
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Gearbox also submit proposal to earn with bridge funds?
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i meant like why not encourage users to just bridge sDAI or aUSDC directly
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in that case - everyone opting in to a risky L2, could maybe do this no/
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