Vadim Khramov в LinkedIn: DeBank | The Web3 Messenger & Best Web3 Portfolio Tracker
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Публикация участника Vadim Khramov
There has been a lot of attention related to the recent hack of Curve.fi and the issues surrounding the liquidation of Michael Egorov position on AAVE, which could potentially create bad debt on AAVE (that has $7.5bn assets locked in it) and, therefore, systemic risks for DeFi. However, we believe that the risk of a new hack exists but is very low and our research shows that it’s extremely unlikely for AAVE to be at systemic risk due to a CRV sell-off. Quick overview: a few Curve.fi pools were hacked for about $40m, or 1.2% of its TVL, last week due to a bug in the Vyper coding language. As a result, the price of the CRV token dropped by more than 30%, but later recovered halfway. The founder of Cruve.fi, Michael Egorov, has about $150m in CRV deposited on AAVE and is borrowing about $43m in stablecoins against it. He executed similar loans on other lending protocols, but in smaller sizes. Many trades are concerned that CRV can fall further leading to the liquidation of his position. Due to low on-chain liquidity, this liquidation could potentially create bad debt on AAVE. Here is Egorov’s wallet: https://lnkd.in/gRXRnDCb We believe that the fears about CRV liquidations creating bad debt on AAVE are unfounded and do not hold any weight. Egorov borrowed $50m in stablecoins against his $150m CRV position, with a liquidation price close to 30c (estimate), which is about 50% lower than the current price. AAVE enforces high margin requirements and large liquidation penalties for CRV, thereby mitigating the risk of bad debt to a greater extent than commonly perceived. It’s essential to note that CRV traded $1-3bn per day on centralized exchanges at the time of high volatility. Therefore, we think that liquidating $10-20m of CRV would not have significant impact on the market as arbitrage bots would arbitrage on-chain and off-chain positions. Finally, AAVE has about $300m in its insurance fund, so covering the potential $5-10m of bad debt would not be an issue in general. #Curve #crypto #egorov #hack NOT INVESTMENT ADVICE.
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Exciting news! I will be speaking at a webinar titled “Crypto 2.0: New Era for Crypto Custody and Regulations” on Tuesday, January 16th at 11:30 am ET. Joining me are other industry experts, Bob Rutherford, COO of FalconX, Yuri Kostrobi, General Partners of Edge Digital, and Jenna Peterson, CEO of OpenDeFi Foundation. We will be discussing the latest changes in the crypto industry, including the approval of crypto spot ETFs, legal battles of US crypto firms against the SEC, and counterparty risks related to Binance, among others. Additionally, we will be focusing on game-changing custodial solutions that the largest exchanges will be using in 2024. Qualified investors only. Pre-registration is required. The webinar is for clients and prospective clients only. Sign up now using the link below. Register here: https://lnkd.in/dx_W7Z82 #defi #crypto #binance #custody
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Digital Macro Hedge Fund 1 мес.
I am looking forward to moderate the panel “Transforming Custody: Reduce Counterparty Risk and Boost Trading Efficiency” at the Battlefin event in Miami on Jan 25th. Speakers: Mitchell dong, CEO, Pythagoras. James Hodges, Managing Partner, Amphibian Capital. Ray K., Head of Institutional Solutions, Bakkt. We will focus on: Refining the Due Diligence process End-to-end security and cyber protection Institutional Staking Data’s role in trade efficiency Collateral Management Wallet segregation and new technologies Great thanks to Steven Reichard for organising the conference. https://lnkd.in/ddaE-stD
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Digital Macro Hedge Fund 1 мес. Отредактировано
Happy Holidays and Happy New Year from Edge Capital! 🎄 Crypto Christmas: The funding rates have become significantly more advantageous in crypto in the past two months (see chart below), which has positively impacted our portfolio’s performance. Our fund is having one of the best months this year (after the fund was up 5.5% in March). This performance boost comes largely from the bullish funding rates and our adept utilization of a blend of DeFi and CeFi strategies. 🌟 The buzz around potential SEC approvals of Ethereum ETFs and global interest in ETH and BTC ETFs has created a bullish market, aligning perfectly with our strategic approach. 📚 Furthermore, our team’s expertise in navigating and capitalizing on these funding rates has been pivotal in maximizing our gains in this bullish environment by leveraging the most profitable funding rate strategies using our unique capabilities that mix DeFi and CeFi. 🔍 Looking Ahead to 2024: We’re entering 2024 in the most positive market environment since the 2021 bull market. Our growth and strategic position fill us with optimism about the future, and we’re excited to share these opportunities with you. Thank you for your trust and support. NOT INVESTMENT ADVICE. See disclaimers on our website. Chart Data: Binance, ETH funding rate. #InvestmentStrategy #CryptoMarket #Crypto #ETH #BTC #PerformanceUpdate #HappyNewYear
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Digital Macro Hedge Fund 1 мес. Отредактировано
I’m #hiring. We are seeking a Rust Developer to join our team to develop and maintain on-chain and off-chain trading bots. Know anyone who might be interested?
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Digital Macro Hedge Fund 2 мес.
I am excited to announce Edge Capital’s strategic design partnership with Arkis. We are uniting our expertise in digital assets with Arkis’ innovative DeFi solutions to transform the future of DeFi prime brokerage. A groundbreaking step toward accelerating the maturity of DeFi.
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Today, we’re excited to announce a strategic design partnership with Edge Capital Management LLC! Discover how we’re leveraging our shared expertise in smart contract development, liquidity strategies, & blockchain tech to accelerate the maturity of DeFi, together. ↓ https://lnkd.in/dgpHZfHS
Announcing our Strategic Design Partnership with Edge Capital
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