Andre Cronje (@AndreCronjeTech): Still personally most exited about Total Return Swaps coming out, but so incredibly happy and proud of the team for shipping all this in under 60 days…
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Still personally most exited about Total Return Swaps coming out, but so incredibly happy and proud of the team for shipping all this in under 60 days. The PUT system is working even in these stressed environments, exactly what it was built for, great to see it align long term supporters and provide easy exit for short term flippers without impacting the secondary. Secondary NAV system managed to absorb all exits as well, making sure there isn't a dragging tail, already bought and burned $1.22m worth of tokens. PUT marketplace trading has generated over $1m in trade volume with over 200 active sales, all without impacting the secondary market while trading PUTs at premium. Flying Tulip USD I believe is the only pure activity based stablecoin yield system, and even in these markets has outperformed base lending and even "managed vaults", and that's with only 14.5% allocation to the delta neutral staking yield positions. Our Lending is the first onchain margin based (not LTV) system, and has already shown higher capital efficiency (we needed to build it to facilitate onchain delta neutral staking trade [not possible elsewhere]). All this in 71 days, for only $475.77k spent to date. Still an exciting road ahead with spot, leverage, TRS, perps, options, binary options, and insurance, but already massive milestones accomplished.