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Joined July 2018
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RT @mezzanine_fi: Mezzanine is live. Our first vault is the @HastraFi Optimizer, with many more on the way. Pick your side: higher yield…
Mezzanine’s first vault, explained. Where @HastraFi’s PRIME and AUTO yield comes from, how they’re put to work across Morpho and Kamino, and what junior and senior each get in the Hastra Optimizer. The deep dive
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Launch is tomorrow. Here’s a catch-up to get you up to speed.
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It's finally happening In TWO DAYS (10AM EST), you'll be able to deposit into our @HastraFi optimizer This vault allows you to get senior exposure to Hastra with double digit APRs or leveraged exposure to Hastra at >20% APR Nov 5 (yes, the points are called "mezzies")
2 days until you have to decide what kind of yield farmer you are. Mezzanine goes live November 5th.
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Mezzanine @mezzanine_fi (see below!) is the only project I have made a seed investment into in the last three years here in brypto-land... It is the creation of @phtevenstrong, one of my closest friends in the space. I actually used to watch Stephen via his 'The Calculator Guy' YT channel way back in early 2021... before I even created this account or got into crypto full-time... He was a big part of my journey into defi, and falling in love with yield farming, and all the weird crazy esoteric corners of the onchain world :) Stephen is one of the most intelligent, disciplined, high-integrity dudes I have ever met in my entire life... I'd legit follow the dude into combat without hesitation. So.. when he said he was starting his own defi project, I did not wait for even a second before asking to invest in it... The result- @mezzanine_fi- is insanely cool, and is now fully coming to fruition... I will write about it and its mechanics and architecture in the future, but if you are a defi nerd who appreciates gigabrain protocol design I highly encourage you to dive in and start studying it- you will love it 💪 We are in the crypto doldrums right now, and tons of people have checked out and left CT and the crypto world entirely... Everyone who is still here and locked-in is setting themselves up for massive success once the winds of fortune change... And I have zero doubt that @mezzanine_fi will be one of the massive W's people talk about at that point, and I HIGHLY HIGHLY encourage you to dive in and start experimenting with it!
2 days until you have to decide what kind of yield farmer you are. Mezzanine goes live November 5th.
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A cool tool I tested is defidojo.tools. You select a market across Aave, Fluid, Morpho, and Euler, and it shows you the oracle type it uses. On Aave, it's difficult to check the oracle manually, so I recommend using this tool. Thx @CryptoMeatStick for building it.
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Everyone in DeFi has a thesis. Real-world credit is the future. Stables should earn more. Yield should be fixed. Mezzanine turns a thesis into a vault, then lets you choose how hard to back it. Junior is for maximum conviction. Senior is for conviction, with a cushion. The first thesis is @HastraFi, with more on the way. Tranche anything.
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Tranche anything. Lending. Loops. LP positions. Market-neutral and basis trades. Arbitrage. Pendle PTs. Already-tranched vaults. RWAs. Multi-chain strategies. If it has yield, Mezzanine can tranche it.
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The wait's almost over. ᵃᵘᵈⁱᵒ ᵒⁿ The first Mezzanine vault opens soon. Turn on notifications so you don't miss it. 🔔
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Mezzanine is close. The app is in testing now. A points campaign is on the way.
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New Mezzanine landing page is live at mezz.finance. Docs, socials, everything you need to explore Mezzanine, all linked from the new page. App and pre-deposit will show up here the moment they're ready. Also picked up the gold check on X while we were at it.
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What's Mezzanine's Edge? The purpose of @mezzanine_fi is to give retail access to yields they otherwise wouldn't be able to get themselves. Aside from optimizing and automating things like peg and rate arbitrage, we're basically a wholesaler for yields. I.E., because of Mezzanine's ability to provide stickier and more reliable liquidity, and due to pre-existing relationships with teams, builders, asset issuers, and real-world institutions, we can squeeze out a few extra bps on some of the currently most trusted strategies in defi. ➢ Fee rebates ➢ Token Incentives ➢ Paper Yield kickbacks ➢ Unique points multipliers And then we give you three tranche options so you can choose your own risk™ Pre-Deposit Vault Coming: 🎇July 🎆
🤖 Made with AI
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July 1st. See you there.
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The docs are live. The pre-deposit vault goes live July 1st. Start here. docs.mezz.finance
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1/ DeFi is quietly becoming a different game. Here's what that means and how Mezzanine is built around it.
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Why does @mezzanine_fi need to exist? Great question. There are so many protocols, so many stablecoins, so much noise in this space, so why Mezzanine? We're solving for three major problems. 1) People want leveraged exposure to yield without first loss exposure. One of the reasons I like @re's design so much is that reUSDe behaves more like a mezzanine tranche than a junior tranche because of their "super junior" institutional capital that takes actual first loss. This makes reUSDe much more attractive. Likewise, we saw @avantprotocol come out of the rsETH debacle like absolute champions because of their built-in super-junior reserve which saved their junior avUSDx depositors from losses. Our Mezzanine tranche (MLT) is poised to be exactly this: a yield bearing vault that gets leveraged exposure to yield like a junior tranche, but DOES NOT take on first loss exposure like a junior tranche. And that's why it's (imo) our flagship vault. It's purpose is to be a hyper-composable high yielding defi asset that you can use anywhere, knowing that if there are ever credit crunches, exploits, depegs, or anything else that would cause the protocol a loss, MLT would still be protected by a more junior layer (JLT). 2) People want access to high-grade, exogenous, and endogenous yields. Many yield-protocols, with some notable exceptions (shout out to Re, @infiniFi, @onrefinance, @USDai_Official, @apyx_fi and the like) are just wrappers for defi farming. We understand this. Our goal with onchain yields is to work directly with partners to access yields normally unavailable to retail. These exist because at size, there are additional incentives for sticky liquidity, which Mezzanine can offer in part due to our duration hedging with MLT, and therefore benefit from cross-protocol agreements that the lay defi user can't access. Moreover, our technical capacities allow us to analyze the risk of and execute on and automate peg arbitrage, and market curation. But aside from that, we're building for the future of DeFi, which includes exogenous yields. Whether those sources be tradition investment vehicles like mGlobal, or yield sources like reinsurance, AI-infrastructure, basis, credit financing, or anything else, our goal is to aggregate the best of off chain and on chain yields, and allow users to pick their risk profile through our tranching mechanism. 3) Tokenomics need new life This one may get me in trouble, but we developed our tokenomics at the same time as Mezzanine, because we intended to build a protocol whose answer to "but why do you need a token" is self-evident. The MEZZ token has a use case directly beneficial to the protocol, whose value should be equally self-evident and mathematically deducible. While this may not make for insane or manic premium, it should make for a directly scalable asset whose health feeds the protocol and vice versa. Without saying too much, MEZZ issuance will feed a protocol-owned junior tranche, which creates a sticky first loss backstop while also producing revenue that can be used to purchase and redistribute yield to stakers in a completely non-inflationary way. Our friends at Pendle may or may not have been inspired by our design. I know it seems like we've delayed for quite some time. But we're three audits deep, and already a good bit into the development of V1.5. Moreover, we're going through rigorous operational security practices that would hopefully make the NSA blush. Ultimately, there is no reason for Mezzanine to exist unless it brings something genuinely new and genuinely needed to DeFi. Mezzanine does both, and I couldn't be more exited for launch. It's coming, lads. Stay tuned.
🤖 Made with AI
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If you think DeFi isn't innovating anymore, you haven't been paying attention. Here's 7 interesting things I saw happen in DeFi this week:
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1/We dropped our first Medium yesterday. teapawt.net/mezzanine_fi/status/20… Been sitting on it for a while. Here's the idea that sparked it.
Our first Medium post is live. It covers how Mezzanine distributes yield, who absorbs losses first, and why most yield products only answer that question after something breaks. Includes a worked example showing APR splits across all three tranches. Read: medium.com/@Mezzanine_Fi/who…
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