📊 Curious observer of markets 🧠 Ex-@LlamaRisk | ex-@Prime_Rating 🌌 Mostly eyes, occasionally voice
Joined February 2020
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1/FIP-452: recalibrating the sfrxUSD/frxUSD @fraxfinance lend market.
The problem in one number: in Feb 2026, $2M of new liquidity showed up - and the market generated less than $1,000/year in fees. Liquidity wasn't the issue. IMO the rate curve was. 🧵
11/ Long-term direction (maybe a separate future proposal): a yield-indexed IRM that tracks sfrxUSD's own yield automatically instead of needing a governance vote every time it drifts - similar in spirit to what @CurveFinance already runs on its sfrxUSD @llamalend
Full proposal, data, and methodology: gov.frax.finance/t/fip-452-r…
For: 1.50% zero rate / ~8.64% vertex-rate %.
Against: keep 3.36% / 10%.
Abstain.
Read it, poke holes in it, and vote on if it should go up.
@saint_rat, @strohy__ and I have put forward a proposal for the RFP by @CurveFinance. Having already worked on Curve risk across @llamalend, crvUSD, and broader governance, it felt natural to form a dedicated team for this work: @curvature_risk.
We appreciate any feedback and questions on the proposal: gov.curve.finance/t/curvatur…
xm3van retweeted
Introducing Llamalend v2
A new lending framework built around Curve liquidity
- Use Curve LP tokens as collateral
- Isolated market risk
- Improved range-based liquidations powered by LLAMMA
- Better market security
Launching first on Optimism.
news.curve.finance/introduci…
1/ @CurveFinance CRV-long @llamalend recovery proposal is interesting because it leverages the market to help with bad debt recovery.
It tries to turn impaired vault receipt tokens into a tradable recovery claim.
gov.curve.finance/t/crv-long…
6/ It's kinda good and bad.
It helps close impaired bad debt; the profit is a useful recovery incentive.
Yet, it takes advantage of LPs/ Lenders selling their vault shares for cheap to borrowers - this seems not very fair ...