catch me here at 37:30. i pitched @LoraFinance
🇹🇭 14 teams pitch at the @magicblock x @SuperteamTH Founders Camp Demo Day in Bangkok
Watch live:
xitter.gq/i/broadcasts/1wGWjlOgb…
6
959
Got accepted for the @magicblock Founders Camp in Bangkok 🇹🇭
See you there with @SolanaFndn and @SuperteamTH
how did they not see this coming?!
NEW: Robinhood Chain, an Ethereum layer-2 launched July 1 to host tokenized stocks, has become one of crypto’s busiest new networks, with about $312 million in total value locked and 3.6 million daily transactions.
Read the full story by @shauryamalwa on CoinDesk
1
5
2,116
yo that’s pretty cool
…oh wait!
our engineer shipped this skill. caught @KelpDAO 's bridge config 12 days before the $292M drain.
open source, go scan your bags.
3
2,882
people call prediction markets "gambling"
meanwhile DeFi:
- accepts fake collateral
- lends out real ETH
- and socializes $200M losses
who tf eats the cost
no need to guess: YOU DO
a leveraged prediction market could’ve hedged this downside for a small premium
maybe "gambling" isn't the problem, blind trust is.
🚨 I don't think people realize how bad things are at @aave right now.
All core markets are at 100% utilization, that includes $3 bil in USDT and $2 bil in USDC stuck!
That means you CAN'T WITHDRAW your money!
A long post on why and how we ended up here.
When the rsETH exploit happened and AAVE incurred bad debt, whales like Justin Sun, MEXC exchange, and others immediately withdrew billions from AAVE.
This instantly drained all available liquidity in key core markets like ETH, USDT, USDC and so on. Those first to withdraw got out, laggers got trapped.
Initially, the ETH market hit 100% utilization, meaning you could not withdraw your ETH from AAVE.
Worse, this also means the protocol can't process ETH liquidations should ETH price fall/crash. If you can't sell any ETH, you can't liquidate to cover debt obligations.
That means the risk of more bad debt incurred by AAVE is increasing the longer its markets remain stuck.
Nevertheless, users can still sell at a minor loss the aETHwETH tokens on Uniswap or similar aggregators. That exit door is the last one remaining for ETH depositors on AAVE.
The same cannot be said by depositors of USDT and USDC. They are stuck.
That's because AAVE lost over $6 billion in liquidity in the past 24h. As whales took out their money, USDT and USDC also hit 100% utilization.
These markets are now also stuck with money locked. Panic is spreading and desperate times call for desperate measures.
Some users decided to borrow against USDT/USDC and exit via other markets at a 10-25% loss (90-75% LTV). Basically you borrow GHO/DAI/USDe against your locked USDT/C.
But as more liquidity leaves AAVE, more markets get to 100% utilization and get locked/stuck due to low liquidity. This is quickly cascading across all available markets.
Luckily the crypto market was rather flat today so liquidation risks were marginal, but if things change there are billions in stablecoins and other assets locked on AAVE that can't process liquidations = more bad debt for AAVE.
If users or related protocols that are stuck need access to their money to prevent liquidations or other critical function, they have a huge problem on their hands.
Plus, nobody wants to deposit (or provide liquidity) in these markets now since your ETH, BTC, USDC/T could be stuck there for who know how long.
As soon as any available liquidity is made available, it is instantly taken out by bots fighting to get out. As I wrote this I saw 250k in liquidity on USDC vanish in seconds.
Then there is the bad debt question.
There's over $200 mil in bad debt incurred by AAVE via rsETH that's like a hot potato. Nobody knows who will eventually pay this bill.
If you didn't remove your assets from AAVE, you risk receiving at least part of that bill in some form. Not having access to your money is part of that risk too.
Contagion is also extremely high.
Many protocols and apps rely on AAVE for their earn mechanics. These protocols and their users are stuck too and may be forced to incur bad debt with no fault of their own.
October 10th was a CEX driven crash, this is a DeFi risk mitigation failure of epic proportions.
AAVE should have never onboarded rsETH as a collateral asset, at least not to the size of hundreds of millions that allowed the hacker to walk away (i.e. borrow) over $200M in ETH after posting fake collateral.
Rumors on X are saying rsETH was onboarded by AAVE due to a conflict of interest (lobbying) by a given service provider. If true, this is a major failure of its governance structure (nothing new).
The folks at @KelpDAO who manage rsETH also have a tough decision to make on who will actually pay for the $200M exploit. AAVE users? L2 rsETH users? Everyone affected gets a haircut to account for the loss?
The AAVE team and its founder, Stani, have been quiet for over 20h since the exploit after initially announcing the rsETH market freeze.
They have a pretty big problem on their hands since the whole protocol is at risk right now. Trust is already lost as AAVE is bleeding billions in TVL to the level of hitting 100% utilization on all core markets.
Maybe some key actors in the space will step in to provide liquidity to stabilize the markets on AAVE before this gets even worse.
I got lucky to get out of AAVE early when I first saw this. I also removed all assets from DeFi and will not touch any protocol in the next few weeks. Too much risk for a few percentage points in yield.
If you found this informative, like, share, and follow @duonine
1
3
2,869
this made me realize that we need to implement better monitoring for our infra.
grateful for all the love we’ve gotten so far :)
All issues fixed
In the last 4 days, due to a huge influx of users coming in to the platform, our position closer shut down, leading to inability to close underwater positions. As such, the tokens claimed got instantly consumed after claim.
We received the feedbacks from users and immediately took actions. Everyone who submitted the feedback has been compensated. This is what the testnet and all the waitlist is for. Please continue helping us to build this platform. We are opening for queue 2 next week.
-> Queue here: testnet.lora.finance
building an attention market for @chainlink convergence hackathon.
will be live on @base sepolia soon for everyone to try out.
6
2,102
building an attention market for @chainlink convergence hackathon.
instead of chasing the coin around the hype,
you trade the hype itself.
i used cre to pull live internet signals, turn them into a normalized attention index and settle markets every 24 hours.
2
4
1,530
bolt is the fastest push based oracle to have existed
bullish on every app using.
Most of @megaeth's first wave of protocols and apps are already running on RedStone.
Builders recognize that real-time execution needs a real-time oracle layer.
RedStone adoption already spans lending, trading, yield, and consumer UX. This is how default infrastructure forms 🧵
2
1,134
playing around with @LoraFinance on @megaeth today.
i'm at $200 now. leverage can't get more fun.
(i started with $300 :))
follow for more trading advice
1
4
1,040
ngl, @smasherdotfun has to be my favourite game on @megaeth rn.
lost every round i played so far 🙂
1
3
801
Options didn’t fail in crypto because the idea was wrong. They failed because the way we tried to introduce them was misaligned with how people actually think, trade, and form conviction.
The blockers are visible now.
Complexity was surfaced too early, before users even knew what outcome they wanted. Incentives delayed real demand, masking structural gaps with easy money. And the interfaces themselves were built for desks and derivatives teams, not for humans trying to express belief.
These aren’t ideological disagreements. They’re design constraints.
The next generation of DeFi winners won’t come from squeezing more leverage out of the same machinery or optimizing liquidation engines to fail more gracefully. They’ll come from teams that know how to remove friction without removing agency.
Lora Finance @LoraFinance is ready to be that chosen one.
1
5
468
munch basically has the same view & reasons to believe that options should be bigger like us at @LoraFinance
Safer upside, safer downside, no sudden liquidation event, and highly efficient capital using
Coming soon on MegaETH
This quoted post is unavailable.
4
505
There’s a point in every new primitive where you realize the idea is only half the battle.
The other half is the environment you release it into.
Renting convexity sounds simple in theory — stream a payment, hold upside, remove liquidation — but delivering that experience on-chain requires something very few chains can actually promise: predictability.
The moment we understood that renting upside needed continuous execution, low-latency oracle updates, and blockspace that doesn’t behave like a slot machine, the decision became obvious.
Lora could be invented anywhere, but it could only be born on @megaeth.
Lora Finance is honored to deploy on @megaeth, heading to MegaETH Frontier Program.
With MegaETH real-time speed, Lora Finance is able to deploy real-time streamed call options, paving the way for fully-decentralized and liquidation-free option market.
Real-time, no liquidation, with MegaETH.
Coming soon.
1
9
427