Probably farming your pool || Water boy @TheSpartanGroup || Views are my own
Onchain
Joined July 2019
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Calvin retweeted
Pendle is now operating at unprecedented efficiency.
Emission is down 93% YTD.
For every 1 $PENDLE we spend, 10.4 $PENDLE gets bought back from the open market.
All this while, liquidity depth has grown ~40%.
$PENDLE emissions just hit a new all-time low, down 92% from the start of the year, against a target of 30%.
Buybacks now outpace new supply by ~10x:
🔹 0.2% annual inflation
🔹 2% annual buyback rate
Calvin retweeted
I’m excited to announce that DFlow has been acquired by MoonPay.
DFlow has consumed almost every waking moment of my life since I started it in 2021. An incredible amount of work has gone into it over the years with tangible growth results that reflect the massive effort of the entire team.
Today, DFlow is integrated almost universally across trading apps on Solana. Transactions constructed by DFlow are in almost every block produced on Solana. We’ve served millions of traders across the world. We’re constantly on the frontier of the technology powering markets, working with the largest and most cutting edge businesses in next-gen finance like Phantom, Kalshi, Coinbase, and hundreds more.
I’m proud of what we’ve built so far and excited to work with Ivan and the MoonPay team on the next phase of insane growth.
Calvin retweeted
Today we announced an agreement with @computershare, the World's Largest Transfer Agent, that manages close to 60% of the S&P 500, including companies like Apple, Tesla, Microsoft, Nvidia, Disney, Coinbase, etc., to become their tokenization partner to bring stocks on chain natively in the US and abroad, retaining the same rights and economics and allowing them to trade and borrow on chain.
Tokenize the world!
Calvin retweeted
Why did @ether_fi commit 5k ETH to the Kelp hack recovery fund?
Because we believe there was a very real risk that this could have killed DeFi.
The default path was:
Kelp bankruptcy -> $1.5B of rsETH tied up for years -> $30B Aave lending market locked up -> Cascade of DeFi and CeFi implosions. Game over for crypto.
FTX would have looked small in comparison.
In the face of these systemic risks we saw almost everyone pull back and hide behind lawyers. The worst case scenario was playing out.
The one team that stood out and stepped up was Aave. In many ways they were the least to blame (and there was plenty of blame to go around) but they took ownership and immediately began raising funds to fill the hole left by the hack.
If the @ether_fi team helped in some small way, it was mainly to open up communication help others see the gravity of the situation.
There’s a lot more to be written about what happened, and things are still playing out. But I think the worst case scenario has been averted.
Lots of soul searching to be done about systemic risks and decentralization theatre by everyone.
We’ll do a longer write up in a few weeks.
Calvin retweeted
Aave is my life's work and we're working nonstop to find the best possible outcome for users.
I’m personally contributing 5000 ETH to DeFi United as we continue working together with partners on formalizing more commitments. I’m working to see this resolved and market conditions normalized as soon as possible.
DeFi United.
Actually think there are a lot of interesting use cases around programmable tokens/NFTs that go way beyond tokenised art, ie enforced royalties, loyalty points, tiered unlocks baked into the token itself
.@cz_binance says that NFTs and DAOs will make a big comeback.
"I think tokenizing art is probably going to come back at some point, multiple times. I don't know when it will really hit big and stay... I think all of those things eventually should be much bigger than they are today."
"I think many things will have a second wind, but the second wind will most likely be a little bit different... DAOs, NFTs — the next iteration may be slightly different, but they may still be called NFTs or something like NFT2."
Calvin retweeted
The Tapathon is now live 🫵💥
For the next two weeks, 5,000 traders will compete head-to-head to climb the leaderboard in our first-ever Tap Trading competition.
Everyone starts with $1,000. Highest PnL wins.
A Rolex + cash prizes are on the line.
Details below 👇
Calvin retweeted
vePENDLE generated over $37M in revenue last year, delivering a 60× increase over the past two years. It has been a powerful engine for Pendle’s growth.
But Pendle is always on a path of improvement.
If we believe something can be better, we build it, and that belief has led us to sPENDLE, a new model that addresses many of vePENDLE’s long-standing frictions:
- Simplified participation
- Democratized, buyback driven rewards
- Smarter, algorithmic emissions
That last point is especially exciting, with an algorithmic model, we expect to reduce emissions by ~30%, while simultaneously improving pool efficiency.
Thank you for the trust and support you’ve shown us over the years. As we gradually phase out vePENDLE, holders who still have vePENDLE at the snapshot will receive a loyalty bonus of up to 4×, unlocking boosted rewards in the sPENDLE system through this transition period.
Excited to build this next chapter of Pendle with all of you 🤝
Calvin retweeted
BREAKING: We just published the most comprehensive report on crypto cards in the industry.
Not because it’s a niche. But because it quietly became an $18B market.
In early 2023, crypto cards were doing ~$100M per month.
Today, they’re doing >$1.5B.
So we spent weeks digging into the data, the infrastructure, and the companies actually building this stack.
Here’s what we learned 👇
