defi trench creation co-founder @blueberryfdn & @StakeUpProtocol

Joined September 2021
Automatically sanctioning every wallet that has interacted with a previous top tier exchange is the equivalent of sanctioning any wallet that has received dust from a tornado wallet. It doesn’t make sense and doesn’t protect anyone. Specially when the actual individuals committing crimes get passed through without scrutiny. AML / KYC does serve a purpose only when applied practically
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Jon Thomas (🫐,🫐) retweeted
So let me start. DeFi is the future of the World Financial System. That's my belief, and this is why we are here. This amount of absolutely preventable hacks we see in DeFi (with root causes attributable to CENTRALIZED points of failure) is enormous recently. This damages out industry, and I build for this industry. So I cannot remain silent. Imagine an average grandma (mass adoption is here?) putting her life savings on Aave. And then BOOM, she cannot withdraw her funds on Monday. Aave (the biggest DeFi protocol btw) said it's operating as intended - just rsETH got exploited. rsETH said that all code is safu - just LayerZero bridge got hacked. LayerZero (the biggest bridge securing quarter of a trillion $) said that everything operating as intended. Yet, she cannot withdraw here funds. WTF? Are we industry of clowns? But here's the thing. All issues like this should be prevented BEFORE they happen, not AFTER. Number of single points of failure should be reduced, not increased. When these points of failure are unavoidable - trust should be split. If there's a reliance on infrastructure - we should share best practices how to configure it. Not to mention that code should be very well checked - everyone gets that already. We should probably come together and develop safety standards for DeFi. How to build safely, and how to verify safety. Probably everyone should bring their best practices, and the projects, auditors and risk assessment groups should know them. Maybe we need @ethereumfndn and @SolanaFndn bringing all the ecosystem projects to participate and come up with principles, rules and recommendations of safe building. And, perhaps, we can even learn something about protecting the few remaining centralized points of failure from traditional finance who have many more of those. DeFi will win
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You can always play the house with the onchain version of HLP -> bbLHP 5.8% return in a single event. We love powering the decentralized community owned vault. Hyperliquid
HLP just made ~$15M from Garret Bullish’s liquidation. 5.8% return for vault depositors in a single event, pushing APR to ~110% annualized. HLP is currently long ~$230M worth of ETH. app.hyperliquid.xyz/vaults/0…
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No body hates hyperevm more than .hl’s Does BLP kill the evm? No, you think the team is going to kill the very thing that creates for non-custodial program ability? The team wants to have an easy to use venue for them to borrow against their soon to be unlocked tokens on Core without having to inherently trust other teams. Yet the amount of coverage of tokens will be minimal. Plus they will most likely expand the capabilities for others so they continue to be the aws for liquidity, place to house all finance. Stop mid curving it.
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The stablification of yield vaults will continue to hinder us moving forward in DeFi. Everyone labels everything a stable coin instead of what actually is: a yield product. Dollar based products might be easier for retail / people to understand but is highly misguided when talking about what the underlying is and what actually is creating the yield or making it a stable. For the sake of the industry just call it a yield vault or something else, you can start it at 1$ but don't call it a stablecoin.
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Jon Thomas (🫐,🫐) retweeted
we’re in such dark ages right now that fund managers asking questions like “hrm shouldn’t these coins actually have a claim to something” are treated like fucking socrates and we’re having to talk about things like ownership coins like some occult artifact fascinating behavior
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Super majority of curators right now saying they have no exposure to xUSD/deUSD while at the same time they are investing into secondary markets with direct exposure to it. At the end of the day you still have exposure stop saying you don't.
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Jon Thomas (🫐,🫐) retweeted
the tokens already minted, u just gotta go claim it
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staying comfy in bbHLP. Being the liquidator is the real perk of it all, and being able to keep it fully onchain ++
An hour ago, $ENA wicked down 10% in just 2 minutes, liquidating the wallets linked to Andrew Kang on Hyperliquid (again). He was liquidated for a total of $47.38M on ENA - with roughly $8.5M of that backstop liquidated. This means HLP took over the position, generating around $400K profit for vault depositors. In total, he’s been liquidated for around $200M notional this week on Hyperliquid, losing roughly $1.5M in margin. hypurrscan.io/address/0x0b54… hypurrscan.io/address/0x579f… hypurrscan.io/address/0x3eca… Shortly after the liquidation, he re-longed $1.5M worth of ENA on 12x leverage from one of the wallets.
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bbHLP returned 10% in one day today. Get high risk adjusted yields using corewriter, integrated with DeFi, and protect yourself from days like today. The only HLP token to use corewriter on HyperEVM. app.blueberry.garden
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Multi-quote for HYPE on Core Love to see it
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Onchain lending rates looking spicy on Hyperevm lending USDT0 @ 48.92% cc @hyperlendx
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hot take: the winner of USDH only gets the ticker and nothing else (not the billions they imagine) Thank you for the past few days of discourse
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Wonder if i'm experiencing any IL @prjx_hl feels good here though
$bbHLP is live on @prjx_hl Continue to earn berries 🫐 while in bbHLP/USD₮0 bbHLP/HYPE
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Coins going down? Check this. You could be sitting comfy in HLP fully onchain with $bbHLP Stats over the past 7D 🔹$1,308,917.53 Profit 🔹<0.01% Drawdown 🔹$69,861,571.5 Additional deposits Are you earning with Blueberry yet?
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I think people might have forgotten but Hyperliquid has an open line to the CFTC. This might the path forward to allowing users to trade 24/7 and it all happening on Hyperliquid. Higher Liquid.
[ ZOOMER ] CFTC TO SOON ISSUE CLARIFICATION TO ALLOW US USERS TO TRADE ON OFFSHORE CRYPTO EXCHANGES SUCH AS BINANCE: ELEANOR TERRETT
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It's fun constantly compounding my @prjx_hl position over n over again
$bbHLP is live on @prjx_hl Continue to earn berries 🫐 while in bbHLP/USD₮0 bbHLP/HYPE
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🫐 Blueberry Berries Points Program is LIVE! Earn your share of 10% of the total $BLB supply during the program. Hold. Provide liquidity. Invite friends. Stack points and collect Berries
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Volatility on Hyperliquid = more liquidations and trading volume allowing you to capitalize on it passively. Few people actually make money trading instead you can just bet on the house with bbHLP.
During the recent cascade, HLP took over 28 positions, making about $600K. They are now almost out of all positions, with only an ETH/HYPE long left, worth around $3M notional combined. app.hyperliquid.xyz/vaults/0… cc @mlmabc
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