Design & Product person. Thrives in 0-1 startups and the Web3 space. @leveragesir and Buterin Cards https://xitter.cf/t.co/GsCRqIph7N
Europe
Joined June 2022
- Tweets136
- Following636
- Followers38
- Likes540
Mr Livingstream (🦍^🎩) retweeted
I made 240% and I'm annoyed about it.
The trade is on @leveragesir, a protocol that's genuinely impressive and almost nobody is paying attention to.
Entry was $100 because that's all the liquidity would allow; I'm $250 up on that position, and the peak was even higher before HYPE corrected a few days ago.
The problem isn't the trade. It's that $100 was the ceiling.
Small protocols in DeFi get ignored even when the product is actually doing something new. Also, the MegaETH launch wasn't as successful as many thought, and I'd love to do a YOLO trade on ETH there, but there's no liquidity either.
What makes it different is that the exposure here isn't linear; the leverage compounds parabolically as $HYPE moves (and decreases parabolically as the asset goes down, too).
I'm not selling until $HYPE hits $100. No timeline on that.
Extremely satisfying to see Vitalik pitch what is essentially Sir Trading. Let us address Vitalik's proposal and compare it to us.
What if the use options as the base of defi, instead of CDPs and liquidations?
On Sir, traders pay a one-time fee, just like in options. There are no liquidations.
Instead your exposure to the index diverges quadratically from your preferred exposure in a smoother way.
This is exactly how our leveraged tokens work. Notice from the chart below that our ETH² does not decay over time (still went down because price of ETH went down oc). If you check 2 time instant with the same ETH price, you will notice that ETH² also preserves the price.
A key benefit is getting rid of the need for instant oracles, and instead making everything work on top of "slow oracles"
Precisely, we use 30-min TWAPs.
This design has a significant downside - the need to do regular rebalancing - and an open question of whether and how this rebalancing can be made slippage-resistant enough. But it's worth considering and trying IMO.
We have actually fixed this part. We fixed by adding more flexibility in the contract between traders and LPers. Instead of performing actual leverage rebalancing, we derived the formula if the leverage was maintained perfectly constant, and just recalculate amounts when someone enters or exits a position.
Mr Livingstream (🦍^🎩) retweeted
As hype hits 60$ and your leveraged positions happen to have been liquidated on last weeks flash crash
you stop to wonder what would have been if you where not liquidated
what would have those imaginary gains been
statistically more than 95% of the traders on perps lose their money ove the long term
even though the underlying assets tend to go up
this is where @leveragesir as a new primitve comes in
what would have been if you where long hype at your price but didnt have to undergo the funding rate eaten in to prinicpal and liquidations being a risk
its gona live on hyper evm around 48 hours back
and got around 100-150 hype to go long on it if you want to give it a test.
Mr Livingstream (🦍^🎩) retweeted
Every PM should be using Claude Code.
So I built a HUGE course for you to learn Claude Code... IN Claude Code!
🔹 Complete guide
🔹 Make PRDs, analyze data, create decks
Soon, I'll sell it for $149.
For the next 24h: FREE!
Follow + RT + comment "CC" & I'll DM it.
Mr Livingstream (🦍^🎩) retweeted
🎩 SIR launch on HyperEVM is imminent.
We are opening 100 spots, each for a 0.01% allocation of HyperSIR.
What is SIR?
◇ Non-liquidable leverage
❖ No funding fees
◈ 100% on-chain
◆ Convex payoff
Requirements:
◇ 1k+ followers
◇ Active on HyperLiquid Twitter (we will judge)
◇ Like and retweet this post
First come, first served. ⚜️
Mr Livingstream (🦍^🎩) retweeted
looking forward to this one
no flash liquidations gonna catch me anymore
🎩 SIR is launching on HyperEVM (HyperLiquid).
Why HyperEVM first
HyperLiquid is where the action is beyond Ethereum. Active market, deep liquidity, fast execution. HL traders get non-liquidable constant leverage without funding fees. SIR gets a serious venue with deep liquidity and seasoned traders.
What we are launching
HyperSIR will be the SIR deployment on HyperEVM. It keeps the same core properties:
◇ No liquidations
◈ No funding fees
❖ Constant leverage with a convex payoff
◆ 100% on-chain
Community allocation
We will allocate 25% of HyperSIR to SIR contributors and current SIR holders. This includes:
• Unissued and unminted contributor allocations
• SIR in wallets
• SIR in vaults
• Staked SIR
• SIR LP positions on Uniswap
Additionally, 1% of HyperSIR will be allocated to Hypurr (@hypurr) NFT holders.
Distribution will be pro rata, with HyperSIR vesting linearly over 3 years. ⏳
Snapshots and future deployments
The snapshot for HyperEVM can occur any time between now and deployment. If we launch on additional chains later, we will snapshot balances across all SIR deployments so that being a SIR holder and user continues to matter across the ecosystem.
Why not 1 token across chains
Because of how SIR works and because of its immutability, a single canonical token across every chain is not feasible. We prioritize integrity of the mechanism first, then scale.
What to do now
If you are a contributor or holder, make sure your SIR is visible in one of the counted buckets above. If you are new to SIR, study the mechanics, try a vault, and watch how constant leverage behaves in live markets.
(🦍^🎩)
Mr Livingstream (🦍^🎩) retweeted
🔥 PNKSTR/ETH² by @token_works is now live, exclusively on SIR.
👑 For leveragors: pay a one-time fee and unlock exponential returns as SIR adjusts leverage upward on every rise.
💰 For LPers: earn fees + liquidity mining rewards while holding a volatility-dampened version of PNKSTR.
@tokenfox1 seeded the pool with $400 worth of PNKSTR. Who will be next to step in? 🎩
Mr Livingstream (🦍^🎩) retweeted
A new Defi primitive is here:
Onchain vanilla leveraged tokens.
by CryptoAnalyst
thecryptoanalyst.medium.com/…
Mr Livingstream (🦍^🎩) retweeted
What if you could be early to a new DeFi primitive?
What if its token had a fee-sharing program?
What if everything was immutable ?
What if it could change leverage trading on-chain forever?
That’s what SIR is offering.
The public sale is happening now.
Mr Livingstream (🦍^🎩) retweeted
🎩 A gentlemanly rebirth, if you will.
After an unfortunate exploit, many would have vanished. But not SIR.
We pressed on with three private audits, despite having barely a coin to spare. A public audit is next. For that, we humbly seek your support.
In return, we offer a share of the protocol.
💰 Raise cap: $150K
📈 FDV after 3 years: $3.6M
🪙 4% of the SIR tokens
SIR is leverage for the distinguished DeFi participant:
🔹 One-time fees
🔸 No liquidations, no volatility decay
🔹 ETH fee payouts to SIR stakers
🔸 Truly immutable, trustless, and permissionless
This is not a fork. It's four years of original code.
This is not VC theater. It's organic DeFi for believers.
🕰 Sale ends Friday, May 9 at 09:00 UTC
👉 sir.trading/sale
We invite you to help complete what we so earnestly began.
Mr Livingstream (🦍^🎩) retweeted
Quick Update on the Status of SIR
1⃣ You may know we will host a small public sale to fund the audits of our contracts to the last dot.
The contract is ready but the dev that worked on updating the website is having health issues (get better @abstrucked 🙏), and so things have been moving slower than expected.
2⃣ Currently we agreed with @EgisSec to do another audit starting next week. Also in talks with top notch @amarfares_ and his partner for an audit.
We will perform the audits sequentially to maximize their value. We may even add another private from a top firm after the public sale and host a public bounty.
Ask any questions below. 👇
Mr Livingstream (🦍^🎩) retweeted
🚨Yesterday, SlowMist MistEye security system detected an attack on SIR[.]trading (@leveragesir), leading to a loss of over $300K.
📊According to @MistTrack_io's analysis, the stolen assets were transferred into #Railgun, and the attacker's (0x27defcfa6498f957918f407ed8a58eba2884768c) initial funds came from 0.3 ETH transferred from Railgun.
🧐The root cause of this exploit is that the value stored using TSTORE in a function was not cleared after the function call ended. As a result, the attacker was able to exploit this characteristic by crafting a specific malicious address to bypass permission checks and transfer tokens.
🔍More analysis here:
slowmist.medium.com/fatal-re…
🚨SlowMist Security Alert🚨
We detected potential suspicious activity related to @leveragesir.
As always, stay vigilant!
etherscan.io/address/0xb91ae…
Mr Livingstream (🦍^🎩) retweeted
What happened to SIR is what we hate to see. Founder that worked for years. He didn't want it to be about hype or enriching an early circle. Only raised enough for an audit and to get the protocol live.
It was off to a good organic start, and then the worst happened, an exploit was used to drain the entire TVL. 😢
SIR is a novel approach in DeFi that addresses some of the challenges that often occur in leveraged trading such as volatility decay and liquidation risks.
Great opportunity here @areta_io @ConsensysAudits @solidityauditor @ABDKconsulting @CyfrinUpdraft @GuardianAudits
Mr Livingstream (🦍^🎩) retweeted
MONSTER mint Jorge 🐳
Deposit 👉 4.32 ETH
Fee 👉 1.32 ETH (30.5...%)
Price 👉 0.0000006264 ETH/USD
Reimbursement 👉 2,107,279.69349 SIR
etherscan.io/tx/0xeecab9781c…
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