Este lunes en colaboración con @CFUCEMA @ClubUcema @twinfinance_ vamos a estar hablando de tokenizacion regional y sus usos de en DeFi Gratuito a todos, presencial en la UCEMA o virtual en zoom! Link below

иди на хуй

so what if i told you you could do 6.9% APR on ETH using no leverage and only uniswap/aerodrome? would you believe me?

We are working on v2 of @ThatsRekt_ right now. Lot of new features and improvements coming soon. Will try to make a video of why that's Rekt was born and where it is going. Decentralize it all.

Morpho has recorded ~$46M in negative earnings since Q4 2024. At the same time, it has generated hundreds of millions in gross protocol revenue. So how does that make sense? Well, the answer is that @Morpho currently captures none of the economic activity flowing through the protocol. Borrowers pay interest to lenders, and liquidation fees also flow out of the protocol. So, Morpho's current take rate is 0%. This has arguably been one of the biggest drivers behind Morpho's growth. That means its income statement since Q4 2024 looks roughly like this: > Hundreds of millions in gross protocol revenue > $0 gross profit > ~$46M spent on incentives > Negative ~$46M in earnings This isn't because the underlying lending markets aren't generating money, but because Morpho is choosing not to monetize them yet, while simultaneously spending to incentivize growth. It gets interesting, though, as Morpho already has the ability to turn on protocol fees. Governance can activate fees on individual markets and capture up to 25% of borrower interest. It just hasn't. For some perspective, borrowers paid ~$177M in interest over the last four completed quarters alone. > A hypothetical 5% take rate on that would represent ~$8.9M. > 10% would represent ~$17.7M. > 25% would represent ~$44.3M Of course, this isn't free money. Any fee captured by the protocol is value that no longer goes to suppliers, which could make Morpho markets less competitive and potentially impact liquidity and growth. But it makes Morpho's current strategy pretty interesting. Right now, the protocol is effectively prioritizing growth, liquidity and distribution over monetization. Grow supply → attract borrowers → increase economic activity → establish Morpho as lending infrastructure → potentially monetize a much larger base later. So when looking at Morpho's income statement, the negative earnings don't tell you that the lending business itself is unprofitable, but instead that Morpho is spending money to grow while choosing to capture almost none of the economics its lending markets generate. The bigger question is what happens if, or when, the fee switch is activated, especially now that we're already seeing protocols like @SentoraHQ getting ready to deploy their own lending markets on top of @aave V4.

@aave, @Morpho, @eulerfinance. Same collateral, three different answers to one question: who sets your liquidation line, and can it move after you borrow? Where the three differ, and how we set parameters for BTs as collateral. Full piece below. 👇🐢

In our research series: what rocket science has in common with looping. Before DeFi, @chasquitox qualified a satellite oxidizer for SpaceX. A leveraged loop turned out to be the same kind of problem: a pressurised system that fails badly if nobody is watching it. 👇

Your first $100 is on us. Introducing the Berry Free Stock Program. $100 in the stock you pick. 30 days. Keep whatever it makes.