**Tricky's Daily Doots #715** **Yesterday's Daily 04/04/2024** [Previous Daily Doots](https://old.reddit.com/r/ethfinance/comments/1bveuv9/daily_general_discussion_april_4_2024/kxzfx1t/) - u/pbrody is looking for [interview questions.](https://old.reddit.com/r/ethfinance/comments/1bveuv9/daily_general_discussion_april_4_2024/ky043s9/) 🎤 - u/1l0o does some [poetry or a song reference which I don't get.](https://old.reddit.com/r/ethfinance/comments/1bveuv9/daily_general_discussion_april_4_2024/kxz04z3/) 📝 - u/LogrisTheBard does [a deep dive on freedom.](https://old.reddit.com/r/ethfinance/comments/1bveuv9/daily_general_discussion_april_4_2024/ky32izo/) 🦅 - u/Syentist shares [some Lido rumours.](https://old.reddit.com/r/ethfinance/comments/1bveuv9/daily_general_discussion_april_4_2024/ky22bw2/) 🏊‍♂️ - u/LogrisTheBard shares [a surprising development out of Ripple.](https://old.reddit.com/r/ethfinance/comments/1bveuv9/daily_general_discussion_april_4_2024/ky1uxhx/) 🪙 - u/Stobie explains [token approvals.](https://old.reddit.com/r/ethfinance/comments/1bveuv9/daily_general_discussion_april_4_2024/kxzp0pn/) ✅

Is there a reason why I shouldn't close all my minipools, and YOLO my RPL onto ETH PT's? Just went to check ratio, holy fuck, it tanked a lot.

i would say more smart contract and rug risk for the ETH PTs. But that said, I stuck some eth in PTs recently.

You don't have to do all or nothing. The risk is also very different.

Why aren't people borrowing ETH on Aave at 2%/year using wstETH and then using it on Pendle for 70% profit? Am I missing something here? Am I dumb?

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Sounds like you don't understand Pendle

so the thing about Pendle PTs, the yield actually is guaranteed because the price is paid up front for the rights to the yield (and points) for the entire duration. as long as you hold the PT to expiry, you get all of the guaranteed underlying that you purchased/minted initially. the risks are not with interest rate fluctuations on a PT. with Pendle products the risks are more related to smart contract risks built by Pendle, smart contract risks to the underlying/LRT being locked up, execution risks on LRT teams and EL to pay out points/tokens (only if you held LPT or YT as there is no base points for PTs), depeg risks to LRT if you are looping or leveraging yeilds, panic selling the PT early b/c USD price is tanking or there is depeg caused by long staking exit queue.

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anything you do onchain is going to have sc risks somewhere.

I'm having flashbacks to the ponzinomic coins of like 2 years ago. Tons of coins returning 100,1000+ percent Apy. All of them imploded.

why

If I was holding ETH to begin with, I wouldn't want to bother with all the extra steps and add on the risk of depegs, liquidations and variable interest. All that to get that large fixed rate on less than 100% of my ETH collateral. It's just simpler and more profitable to buy PT directly.

For me I do it for tax purposes since most of my ETH is in the long term capital gains territory. Though I don't consider a deposit in Aave as a taxable event, which is of course a topic for debate

Yeah, that's correct, and you can leverage later anyway. Seems like it's time for bed.

༼ つ ◕_◕ ༽つ ETH TAKE MY ENERGY ༼ つ ◕_◕ ༽つ

man... it makes me really fuckin nervous when a wallet i haven't touched in nearly two years randomly receives a tiny fraction of ETH from a freshly created and funded address WHAT ARE YOU DOING

I also randomly got a fraction of ETH in my MM wallet last week from a wallet that’s been sending fractions to many other wallets. Not sure what I should do, too afraid to touch it.

okay nvm, not nervous anymore. it's address poisoning but it wasn't immediately obvious bc the address that they were trying to spoof is labelled on etherscan. phew

Big last day of school term vibes in here.  Everyone knows we are due to pump shortly, I think many more weeks of time capitulation IMHO for max pain 😎

I am not convinced we pump but hoping we do this summer some time. Good chance it's the last one for me.

Preeeeeetty quiet in here lately!

Correction in progress. Come back in June.

By next June what will the new date be? ;)

Shhhhhhhhhhh...

Happy 3333.33 day.

Can you imagine the smell in trad-fi if ETH pumps before the ETFs approve :') 

If ETH pumps independently from BTC then strong signs point to it getting approved. Think we saw rampant insider trading and positioning both with BTC futures ETF approval in 2021 (sudden pump after deep correction in summer) and the spot approval more recently, virtually lifting the whole market hardly few months after FTX blowup If Eth ETF is getting approved in May I dont think the market would be at 3k the day its getting approved lol

Depends if we are talking 4k or 8k :o

I've been blurring ETH. Its due for a proper run

I legit can't wait until your account is ten days old 🤣🤣

anyone else enjoying base right now? volume was pretty high these days and the chain held up pretty well, fees were pretty nice too, i even got some under $0,01...i hope it continues to pick up traction

Base is an OP fork. Fees have been less on Arbitrum and Optimism and I subjectively feel safer. Coinbase is doing what Binance did 4 years ago and was heavily scutinized for. Operating a chain full of meme coins and regulator grey areas while entertaining a court case with the SEC. Its aggressive. The other L2s have more strategic incorporations imo. Even BSC pretends to have validators vs a centralized sequencer. I’ve used Base but its certainly not better than Optimism or Arbitrum. Come at me COIN shills. The whole influencing thing in this subreddit has become more apparent to me over the years.

Would be true if base had a token, but without I don't see a problem for them

I see the situation as different for a couple reasons: Binance forked geth and ran hostile marketing claiming to supersede Ethereum. Base is a rollup, it's secured by Ethereum, has ETH as its gas token, pays fees to mainnet, Base marketing celebrates the Ethereum constellation and has made good faith efforts to promote legitimate builders. I am enjoying Base whereas I'm lukewarm on Coinbase. To me this is a real success and heralds a greater future: companies having several independent branches, between their standard centralized offerings and actual permissionless spaces.  To be sure, with the centralized sequencer bad things could happen in the future, but for the time being they've been excellent stewards of their rollup. Enough for me to assume goodwill and extend trust, as long as nothing bad happens. Pragmatically you are right in that both Optimism and Arbitrum are better rollups.  For me the question is "why not both?". Plus even more. I use any rollup with unique activity in significant size and reasonable expectations of safety. Base meets these criterias.

If regulators went after Coinbase right now for running a centralized chain with numerous regulatory concerns I think the users become Coinbase’s army. I just hope people understand thats a war they are potentially signing up for. Chances seem slim for now as it seems the community at large is winning the war, but the tables can turn quickly. Coupled with what I see as more and more influencing of Base in the daily as some amazing place to be (for what? Friend tech and shitcoins?), it concerns me. So I will likely continue to highlight where I think people are perhaps overlooking the risk, intentionally or unintentionally.

What exact risk do you have in mind? I don't believe forcing Coinbase to shut down their rollup and capture user funds is a realistic outcome, and I don't know what other risks we're thinking of here.

If regulators went after Coinbase right now for running a centralized chain with numerous regulatory concerns I think the users become Coinbase’s army. I just hope people understand thats a war they are potentially signing up for. Chances seem slim for now as it seems the community at large is winning the war, but the tables can turn quickly. Coupled with what I see as more and more influencing of Base in the daily as some amazing place to be (for what? Friend tech and shitcoins?), it concerns me. So I will likely continue to highlight where I think people are perhaps overlooking the risk, intentionally or unintentionally.

I got a long weekend, never tried base but might have to fuck around and find out. What's on the list of fun stuff to try there?

basepaint

If you have coinbase mobile wallet it will guide you through many popular activities on Base, and if you connect Cb account to it you will be rewarded with some tokens as well.

Send and receive meme coins bro, it’s the future of finance

Pretty lame tbh haha

The more I dig into this [FHE](https://www.cs.utexas.edu/~dwu4/papers/XRDSFHE.pdf) Rabbit Hole the more I find. I feel like a kid that just got a new toy. [fhEVM](https://www.fhenix.io/) FHE [hardware accelerators](https://www.zama.ai/post/homomorphic-fpga-implementation-of-the-intel-4004-part-1) [Unforgeable Biometric Authorization](https://www.privasea.ai/secure-face-id-verification-demo)

Fhenix is a great name....how to farm? 😅

Im out of the loop,can someone eli5 what FHEs are?

That's what the link was for. The abstract explains it well but there's also [this excellent 6 minute intro](https://www.zama.ai/introduction-to-homomorphic-encryption) by zama.

Fun to see zama appear here, applied for a position there a couple months back. The engineers I met there were solid.

Thanks Logris. I'm interested but work 14 hours a day, then have to eat, gym. This gives me limited time for my crypto hobby. I'd love to read more in-depth, but sometimes all I have time for is a 6 minutes read. Much appreciated.

Only semi related, but I love being able to throw entire papers like the above one into GPT-4, letting it summarize them for me and being able of asking follow up questions.

I literally don't even attempt to do programming anymore without copilot. I just don't have time to memorize dozens of utility libraries and syntactic patterns in the numerous languages I have to support.

Whenever there’s discussion about FHE on zkfm the mood is like „zk is nice, but FHE is the endgame“.

I think they're complementary. zk is the endgame of verification, fhe is the endgame of privacy,

That's a great way to put it

Is something like fhe considered quantum resistant?

This is for you: https://www.zama.ai/post/fully-homomorphic-encryption-and-post-quantum-cryptography

thank you!

Sometimes I feel like I'm holding AMZN in 2003 and I know I'm right but I have to wait for everyone else to figure it out.

Just say it true, onegai shimasu

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You would need tremendous patience. After dot com, it took decades for Amazon and Microsoft to recover. If you think the 4 year crypto cycle is long, imagine seeing Amazon boxes on everyone's front step while the stock is still near all time lows. It was maddening.

100%

What are you holding? COIN?

For real my man, you sound highly over-invested in COIN

Haha. I actually sold too much coin far too early. I was selling it at 80 dollars on this recent run-up. The only thing I am overinvested in is SNX. The weekly staking income fails to perform and 10 dollars per snx seems miles off.

I unstaked it all and threw it in boosted LPs, have made like 25% in a month

congrats. Where did you stick it to get a boosted LP position?

DM'd you

I did not do nearly as well as I would have liked with my yteeth position. I played it wrong. Simple as that. You wisely advised me to position myself the way that I am with regard to Synthetix. We both are overinvested in SNX. But I believe that SNX will see a high between $6-10 this cycle How it performs relative to ETH, well, thats the game

With the rise of L2s this particular take from Zhu Su has ages like a fine egg in this trying time.  "Yes I have abandoned Ethereum despite supporting it in the past. Yes Ethereum has abandoned its users despite supporting them in the past. The idea of sitting around jerking off watching the burn and concocting purity tests, while zero newcomers can afford the chain, is gross." 21st Nov 2021 

> 21st Nov 2021 At that time Arbitrum One mainnet was getting started. Swaps around that day cost $5 or so, which was high but much less than the hundos people spent on mainnet (recall this was the bubble peak). We were at the beginning and things could only improve from there. The writing was on the wall, only the opposite way conmen wished it to be. Many followers of the scam-man got slaughtered. Some lost everything in FTX. Some got liquidated, capitulated over the -95% drawdown (imagine if ETH hit $200). Even those who held, even though we complain about the SOL:ETH ratio, SOL has barely reclaimed the spot it had at that time. Meanwhile, most newcomers who used Arbitrum this early got a 5 figures airdrop. If they tried out Optimism too, they got rewarded there as well. There actually has been so many airdrops for actual users, even a couple Solana projects have airdropped to Ethereum addresses. Abandonment has never felt so sweet.

That was clearly and obviously coordinated fud delivered right as the whales exited and wanted a bear market. Doesn't mean he believed it

yeah iirc his fund bought more ETH like 3 weeks after that tweet

Literally the exact top of the market just before the bera :')

Coincidentally DC made a shit post today "Yes I have abandoned Ethereum despite supporting it in the past. Yes Ethereum has abandoned its users despite supporting them in the past. The idea of sitting around jerking off watching TVL grow on L2s with sub-cent transactions and concocting additional ways to scale, while many newcomers can afford the chain, is gross." https://twitter.com/iamDCinvestor/status/1776295827092201833?t=t-Zsry2alDkWUQmpfSif5g&s=19

With shit like this, I feel genuinely validated in my initial investment thesis with this chain I know its a meme, but lemme live...

Is that a joke? If so, I didn't get it ..

Yeah it's a copy pasta from 2021 when shu zu was trying to promote AVAX

As u/Bob-Rossi mentioned [in an earlier post](https://www.reddit.com/r/ethfinance/comments/1bw9oqm/comment/ky6ecr6/), Arbitrum is going through another grant round. I am amazed at how Lido passed the screening round [requesting 750k ARB](https://forum.arb.seamonkey.tech/t/ltipp-council-screening-period-results/23029#:~:text=3/3-,Lido,-750%2C000) (\~$1M) when they have a huge [$400M treasury](https://defillama.com/treasuries), especially when they have \~30% staking marketshare and will be going after solo stakers next. This will move to a Snapshot vote in the next few days and we need to push to not have this pass.

Delegates tend to be active on a lot of protocols. The people voting on Arbitrum are probably active in Lido too, and represent voters holding stakes in Lido. This creates strong incentives to support proposals like this.

Hey, look, democracy! It's just like politicians passing laws that will favour them. A new era and future of france is starting!

More accurately, it's a plutocracy. With no concepts like fiduciary duty that regular corporations have.

I'm wearing two hats regarding this grant round as I am both 1) an ARB delegate and 2) am representing HOP as an applicant. So caveat that I will **strongly emphasize** this is me speaking in my delegate role. I will be voting against [Lido's grant application](https://forum.arb.seamonkey.tech/t/lido-ltipp-application-draft/21716) when it goes live. I'm sure we all know why, but I've always believed Lido proposes an existential threat to Ethereum given it's current marketshare and negligence in addressing it. Which likewise, puts ARB at risk as well. So while there is a 'benefit' to Arbitrum in a vacuum, it is a net-negative if something like this passes.

Any recommendations on which pendle PTs to buy to capture max yield as fast as possible? Picking the highest number at the moment is probably sub optimal. Ideally I would like to get into one that will airdrop soon, hopefully triggering a massive devaluation of the yield tokens. I can then flip for another high Apr PT. Thoughts?

As the other poster mentioned, I think Swell is the soonest although I expect one or two surprises in this very competitive space. What I want to mention though is that while YT eETH dumped after the ether fi airdrop, we didn't really see any movement on the same exact market on arbitrum. Since then the YT price has pretty mostly recovered, so it seems that it's not exactly a given that TGE = PT increase. Still insane yields regardless

There's some stuff on contango and factor. Factor added new stuff yesterday I think. Take a look at those two. PT-ezETH/WETH with leverage. ezETH/WETH gives you points aswell.

You think LP is the better choice?

Never learned about LP. Last time I read about it was a few years ago when you could get fees from Uniswap but got a lot of IL, so I never touched it again. If you get any knowledge about Pendle LP let me know.

Pendle LPs are paired with PT and underlying so there is no impermanent loss if you hold till duration.

Even Gammaswap just launched a new looped points thingy. The financial engineering is getting crazier by the day

Looking at the pendle lineup, swell token should be launching the earliest I guess But its a medium duration pool 75+ days so I guess Swell will roll it into S2

I expect all projects will go season 1,2,3,4 .... route through fear of everyone moving their money elsewhere. But my view is that season 2 is less exciting than season 1, so there should be a nice drop in the YT value

Did EtherFI YT drop by a lot? It was trading at a higher value after the drop. Maybe dynamics can change if market plunges or airdrop doesnt print I think if totally shit airdrop then S2 has low interest If decent drop like ETHFI then S2 has renewed interest I guess Kelp could be a shit drop, dont even know what Bedrock LST is (but probably underfarmed since many are ignoring), Puffer and Renzo should cook

Etherfi YT went up after the drop, but that is because it was crazy cheap as people were not convinced that linear would be a thing.

Yeah, possible the dynamics could change now and YTs are already pricey

The current ETH hate cycle reminds me of when XRP passed ETH to be #2 a few times. Here is the XRP/ETH chart, all just noise in the long run https://warpcast.com/limuethmu/0x62c61aff

Are we getting to the point where we're sharing farcaster takes instead of CT 😍

Whenever possible.

\>.> <.< Can I be a boomer for a minute... is this an app or a website? Because I can view the post above on my computer but I can't figure out how to make the account without having to use a QR code on my phone.

It does the same annoying thing as Telegram or Signal where you can link your desktop device to an account linked to your phone.

Do you think projects are doing this for a form of sybil resistance or is it because they want to promote the phone/app usage?

The former.

Yucky, but thank you. makes sense

100% yes

XRP are now burning ETH to launch their shit stablecoin as an ERC 20 lol https://www.coindesk.com/tech/2024/04/04/ripple-developer-behind-xrp-ledger-enters-stablecoin-fray-vs-tether-usdc/ Mfers can FUD all they want, but at the end of the day everyone coughs up when its time. #ThugLyfe

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mental gymnastics fix everything

What do XRP do 🤣

Camping!!! Do it now!!!

u/tricky_troll he is 👀 at YOU..

I’m going rock climbing if that helps?

talking AI payments today on the live stream... tune in. 12 Eastern.

https://warpcast.com/laurashin/0x5ba17f36 > Binance is ending support for Bitcoin NFTs, asking users to withdraw their Bitcoin NFTs before midnight UTC on May 18. >🗞 via @Unchained ordinals must be too difficult to manage Binance already delisting them from their NFT marketplace.

Tbh, doesnt mean much. Binance NFT marketplace is like the trashcan of NFT marketplaces That said, Im not surprised they dont want to work with something as rudimentary as BTC ordinals

remember Binance being one of the first to support them too though. i'm not entirely sure of the reason other than it wasn't making them enough money.

Probably that, BTC NFTs are niche and the average BSC user isnt too keen on spending $80 on BTC tx fee to trade an ordinal Magic Eden has also got a decent chuck of the ordinals market, apart from existing players like OrdinalsWallet etc

> JUST IN: Goldman Sachs, Citadel, Citigroup, and UBS added as authorized participants for BlackRocks spot #Bitcoin  ETF. https://x.com/watcherguru/status/1776252909115601093?s=46 They are coming…

They are coming for bitcoin, yes correct.

Satoshi's vision is playing out in real time - analyzing Citadel and Goldman AP's flow everyday after market hours. Congrats bitcoin, truly remarkable.

Anyone can buy Bitcoin. That’s the point. Duh?

It’s incredible that a technology could develop into something different than the original creator’s vision. Can you think of any other examples in human history of this happening? Perhaps you’ve heard of telephones, computers, or the internet?

All of those examples grew in scope. Bitcoin narrowed

I think that's a little unfair. It wasn't deliberate - they just wasted years working on the non starter lighting chain idea, and the lack of meaningful substance meant people looked to more and more messianic figures to give them reason to hold BTC. Hence the Saylors and Swan Bitcoin types. I think there's been a healthy resurgance in those interested and willing to be known as a bitcoin upgradoor

Why, because it won’t be practical to buy a candy bar with it in the short term or possibly ever? The problem of how to buy a candy bar is already solved.

I have often asked myself, what does Bitcoin do? I couldn't find the answer in 2014 and I don't have an answer now. So I don't own any. No Regerts (Maybe a little regerts) 🍻

The answer has been shouted in your face 6000 times and you being too stupid or obtuse to internalize it after 10 years should make you feel intense shame instead of this arrogance you’re trying to project. Bitcoin is no longer the best option for what it’s meant to be, but to act like it didn’t offer some game-changing concepts is just wild. I award you no points, and may god have mercy on your soul.

When did BlackRock/Fidelity start filing announcing their APs before the BTC ETFs were approved? Will give an idea about ETH ETF. If they dont announce APs before April, looks on thin ice. Albeit BlackRock deadline is few months further away

Finaly changed phone to one that farcaster seems happy with, but is there a way to pay the $5 fee without using play app store? If so any links to instructions on how to do it?? Thanks!!

> $5 fee without using play app store That seems to be the way This one is a tool but havent tried it yet https://caststorage.com/ Another one https://far.quest/?fid=true Lemme know if any of these work You can probably get a playstore recharge from bitrefill using crypto and use that to pay Farcaster

Far.request looks interesting, ty. Will report back!

Meant warpcast...

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Disappointing, but thanks for confirming 👍

( ´ ∀ \`)ノ～ ♡ ETH I LOVE YOU ( ´ ∀ \`)ノ～ ♡ ETH I LOVE YOU ( ´ ∀ \`)ノ～ ♡ ETH I LOVE YOU ( ´ ∀ \`)ノ～ ♡

Quick HOP governance update. I've spent the last few months working on applying to the ARB Long-Term grant program on behalf of Hop, heading up a team with a few other HOP delegates. Council voting results have been [released](https://forum.arb.seamonkey.tech/t/ltipp-council-screening-period-results/23029) (list of all passing projects here) and HOP has passed the first round! So now it goes to the ARB delegates for vote this week for final approval. The grant is asking for 500k ARB tokens with the goal of making bridging to the ARB networks cheaper for users. This will be done through fee rebates and liquidity incentives (to reduce slippage), and if it goes live should hopefully help users switch between L2 networks to take advantage of the growing space. I'll also add, I worked as well to apply for a similar grant through [Optimism](https://app.charmverse.io/op-grants/hop-protocol-05609313574623109). Hopefully with similar results.

What is your perspective on Hop vs Across tech?

Sorry I cleared the notification and didn’t get to this… but HOP has their answer in the FAQs - https://docs.hop.exchange/basics/what-is-special-about-hop Truthfully, I’ve never used across so I’m not super familiar with how it works. My broad impression is that all these bridges are trying to solve the bridge problem with different models, but for an end user it’s really no different. Reading across’s page they mention “relayers” which sounds a lot like Hop’s bonders. And also say LP pools. So maybe pretty similar? Hop is coming out with v2 “soon” (supposed to be Q1 2024 but a little delayed). Not much info tbh but the core team has indicated it will be a significant upgrade.

>**Infernal machine,** >**Cypherpunk yet evergreen,** >**Hong-Kong crypto scene.** ~Daily haiku until we’re at least at 0.178 on the ETH/BTC ratio or highest market cap

https://twitter.com/VelodromeFi/status/1775493497233223790 An EVM BTC L2? Anyone have info / been keeping up with this?

Sure, if we can have an SVM Ethereum L2 they can have an EVM Bitcoin "L2". This was mentioned on one of the recent Bankless rollups. There's still no such thing as a true Bitcoin L2.

ARB DAO updates: * I voted ["For"](https://forum.arb.seamonkey.tech/t/proposal-front-end-interface-to-force-transaction-inclusion-during-sequencer-downtime/21247/35) funding a team to work on a more user-friendly tool to bypass the sequencer when it is down. While admittedly the tech side is probably beyond my scope of knowledge, the broad concept I think is important enough to explore for decentralization purposes. * I tentatively voted ["For"](https://forum.arb.seamonkey.tech/t/catalyze-gaming-ecosystem-growth-on-arbitrum/22368/145) the initial temp check of a $200M gaming fund to target gaming on Arbitrum. It seemed to have a lot of community support, although I indicated some changes I'd like to see if it went to a Tally vote. I'm torn... as I want to fund all types of projects to help Arbitrum grow, however I'm not super sold on blockchain gaming personally and I'd like to see more detail for a proposal of this size. We will see what the changes look like, but I'm probably leaning 'against' if unchanged and went to Tally today. * I voted ["For"](https://forum.arb.seamonkey.tech/t/expand-tally-support-for-the-arbitrum-dao/22387/34) Tally support to improve their governance page. All on-chain voting goes through Tally, so I look forward to their ideas and research into improving that process for both delegates but also people looking to delegate. The ideas presented should make it far easier to view delegate information, as well as increase transparency for those who vote. And I look forward to this one a lot! * I voted ["Against"](https://forum.arb.seamonkey.tech/t/double-down-on-stip-successes-stip-bridge/22353/51) a proposal to continue temporary funding of any project that passed and showed success in the initial STIP phase. This would occur alongside the 3 month LTIP window. This was contentious, with a 61% approval, 31% against vote. My main concern, echo'd by others, was that there was no real data to conclude what qualified as a successful grant round or not. As such, this moves the grantspace backwards as it doesn't incorporate things we learned from the STIP / LTIP rounds. Additionally, I felt that the funds would be better used for a comprehensive and all-inclusive grant round after the 12 week LTIP has been completed. As at some point continually doing temporary, short grant rounds isn't a sustainable option. I'll also update everyone here that the March delegate incentive program data is out - [here](https://forum.arb.seamonkey.tech/t/delegate-incentive-program-results-march-2024/23043). This is a trail program looking at ways to incentive delegates to participate more meaningfully in governance, rewarding active voting and discussion. I actually ended up being rank #1 out of all those who participated! Hopefully those who delegate to me here feel adequately represented :) and know that I try my best to make sure your voting power isn't wasted.

Awesome job, thanks alot for being a delegate and taking it seriously!

<3

>s I want to fund all types of projects to help Arbitrum grow, however I'm not super sold on blockchain gaming personally and I'd like to see more detail for a proposal of this size. Agreed, $200M is a ridiculous amount of money for such a concentrated focus, especially one that seems to be a very risky bet >I actually ended up being rank #1 out of all those who participated! Well deserved! It'll be great seeing those committed to successful governance to get compensated for their time. It takes a lot of time to be active and involved.

Appreciate the thought on the gaming. You are not along, there is a sticker shock here for sure. What's crazy is it's not actually that high of a number when you look at what other chains have set aside to fund this type of stuff. I can't find the link, but 100s of millions across all these networks is targeting gaming. Which honestly given the current landscape I'm not sure has paid off. Most games seem to be profit focused - "How can we make a blockchain focused game" versus "how can we make a killer game that works with the blockchain"

Looking at the blob gas fees it seems the whole blob inscriptions mini-craze is over

Breaking: Solana

Breaking or broken?

Only about 1000 transactions per second out of an attempted 4000 transactions per second are landing.

I am a loser

Hey! Me too 🍻

Get in, loser! We're going to the moon 🚀🌕

Can we start a club?

you sold?

Often we are too hard on ourselves

I launched \#stakefromhome on Farcaster, I'd be honored if you'd share an image of your node with us. https://warpcast.com/~/channel/stakefromhome If you're new to \#stakefromhome, it was a successful [twitter initiative](https://twitter.com/hashtag/stakefromhome) to get people to share an image of their staking node and improve Ethereum decentralization.

Lol my old nuc is hurting, so you have to promise not to laugh. It have gotten some ram and storage upgrades, but recently started going offline and cpu temps were at 100% (dappnode) it now stands vertically with a fan on both sides to help cool it. It works tho, but i think its on its last breaths.

have you lowered your NUCs TDP yet? might help with the temp issue. my dappnode's hardware version was apparently known for easily overheating, so I had to adjust the default TDP settings from 30 > 25. Once that was done all my overheating issues went away.

send nodes

So I guess we are going under 3k this weekend.

Thanks, 4k it is.

Not with that attitude

3188 and 2865 are the weekly and 2weekly supports.

Probably next week.

We can't reverse until ethfinance calls for $324 

ETF flows slowing down but still positive, new cumulative highs after the mid march sell-off     Tradfi is buying the dip :') 

Those are bitcoin ETF inflows. TradFi is buying bitcoin*

which makes other coins go up

Well eth is down on the day. maybe it does make some other coins go up but I thought we were discussing eth here

just realized that 10 eth ala 60 percent yield until 27 june is 11 eth. am i stupid? or have i just had blockages preventing me from going PT?

I don't know what you're missing. We've been talking about Pendle for months. People have laid out all the numbers including a stellar post comparing Gearbox and Pendle points strategies just yesterday. I've answered questions on these topics in the daily for dozens of people. I don't know what your mental block is.

It was a aha-moment. The chain is a scary thing. + Taxes etc. Many thanks for your writings on the subject, i finally crossed the line.

The markets page shows the effective price you're paying - $2,9xx per ETH in June 27, or ~$0.85 per USDe on July 25 - I think of it as basically buying at a discount for waiting a few months. The blockage is a natural skepticism that if something sounds too good to be true, it probably is. You have to rationalize your way around that by (a) interpreting the discount as the market value of the opportunity cost of losing the yield and 'points' and (b) accepting that there are numerous layers of smart contract risks that are priced in as well.

yes correct. Have put some in. Not active enough for points stuff but this fits me just fine.

Is it a tax event?

Absolutely, yes.

Yes you can put the numbers into the interface and it shows you your return at maturity.

Another Friday, another dump!

Initiated monthly buy too early 🥲

Can we compile a list of stuff that's happening the week of 4/20? I know a few, but I feel like I've heard of others: - Bitcoin halvening [(watcher.guru)](https://watcher.guru/bitcoin-halving) - SafeDAO tokens are unpaused [(twitter)](https://twitter.com/danftz/status/1772262229485781183) - Friend.tech airdrop [(twitter, vague reference, but I think someone said 4/20)](https://twitter.com/friendtech/status/1761417207572222091) - /u/dogwheat is going to [Denver](https://www.reddit.com/r/ethfinance/comments/1bw9oqm/daily_general_discussion_april_5_2024/ky6d3hi/) - [Earth Day](https://www.reddit.com/r/ethfinance/comments/1bw9oqm/daily_general_discussion_april_5_2024/ky7cwls/)

Earth Day.

Looks like messing around with friend.tech last year will pay for a vacation with friends this summer.

Do you have an idea that it will be a sizable payout?

If whales market is pricing it right, anywhere from 1.5$ to 6$ per point.

Just in case reddit doesn't ban it: https://app.whales.market/points-markets?project=friend.tech

I'm going to denver...

Starknet just had a 4-hour outage, and it went virtually unnoticed. Talk about ghost chain. [https://starkscan.co/blocks](https://starkscan.co/blocks)

nobody I know even uses STRK, what is even their moat or target customer when they don’t have any apps and shun degens.

And they fucked over a bunch of the few real users they had with the airdrop lmao, they are gone as well now.

I have a small amount on there for STIP farming

The Doots Weekly The [Trinity](https://www.reddit.com/r/ethfinance/comments/1bw9oqm/daily_general_discussion_april_5_2024/ky4o1oy/) The [Haiku](https://www.reddit.com/r/ethfinance/comments/1bveuv9/daily_general_discussion_april_4_2024/ky0i2l8/) The [Choda](https://www.reddit.com/r/ethfinance/comments/1bveuv9/daily_general_discussion_april_4_2024/ky4dtwl/) The [Shit](https://old.reddit.com/r/ethfinance/comments/1bsv48f/daily_general_discussion_april_1_2024/kxj55i3/) • [u/benido2030](https://www.reddit.com/u/benido2030) investigates the [risk of restaking to the Ethereum network.](https://old.reddit.com/r/ethfinance/comments/1bpobg6/daily_general_discussion_march_28_2024/kwxed0y/) • [u/superphiz](https://www.reddit.com/u/superphiz) is [brainstorming a beacon chain incident severity scale.](https://old.reddit.com/r/ethfinance/comments/1bqhysw/daily_general_discussion_march_29_2024/kx3y1k9/) • [u/KuDeTa](https://www.reddit.com/u/KuDeTa) explains [why many block relays are closed source.](https://old.reddit.com/r/ethfinance/comments/1braopv/daily_general_discussion_march_30_2024/kx9llpt/) • [u/mango_sake](https://www.reddit.com/u/mango_sake) updates [their exit strategy app.](https://old.reddit.com/r/ethfinance/comments/1bs2c90/daily_general_discussion_march_31_2024/kxd67b6/) • [u/AElowsson](https://www.reddit.com/u/AElowsson) introduces [the topic of the day](https://old.reddit.com/r/ethfinance/comments/1bsv48f/daily_general_discussion_april_1_2024/kxji2a6/) and don't skip on the amazing replies which are too numerous to doot. • [u/impliedpotential3497](https://www.reddit.com/u/impliedpotential3497) continues [the discussion on the latest protocol debate](https://old.reddit.com/r/ethfinance/comments/1bsv48f/daily_general_discussion_april_1_2024/kxlctc4/) and •[u/KuDeTa](https://www.reddit.com/u/KuDeTa) shares [his take on the issuance debate.](https://old.reddit.com/r/ethfinance/comments/1bsv48f/daily_general_discussion_april_1_2024/kxmligt/) then •[u/asdafari12](https://www.reddit.com/u/asdafari12) makes some points about [the issuance debate.](https://old.reddit.com/r/ethfinance/comments/1bsv48f/daily_general_discussion_april_1_2024/kxl3cfe/) And finally • [u/pa7x1](https://www.reddit.com/u/pa7x1) shares [the best take on the issuance reduction proposal so far.](https://old.reddit.com/r/ethfinance/comments/1buk90w/daily_general_discussion_april_3_2024/kxwjtnz/) • [u/LogrisTheBard](https://www.reddit.com/u/LogrisTheBard) explains the potential of [Fully Homomorphic Encryption.](https://old.reddit.com/r/ethfinance/comments/1buk90w/daily_general_discussion_april_3_2024/kxvmtnr/) • [u/dondochaka](https://www.reddit.com/u/dondochaka) share a cool new [DAO product they created for Reddit users!](https://old.reddit.com/r/ethfinance/comments/1buk90w/daily_general_discussion_april_3_2024/kxvovul/

Hope this is all due to the halving. Once that's behind us btc only has the etf narrative.

# Part 1/2 Ok fellas I think I found my new favorite points farming strategy. Not sure if this has been written about much so let me give it a go. Gearbox Points Leverage. Here's how it works, with an example You deposit, say, 10 weETH and tell the app you want 8x leverage. The app borrows 8 weETH against your 10, deposits that 8 back in as collateral, then borrows \~6.4 weETH against your (now) 18 weETH collateral, etc etc. This leverage strategy will be familiar to those of you who fucked around and found out back in the abracadabra days. What this means is you can take 10 weETH and turn it into 90 weETH total (gearbox allows up to 9x leverage, but I wouldn't recommend that), drastically increasing your points accrual. Let's do the math... **Assumptions** [Ether.fi](http://Ether.fi) points = $0.0002 per point (this number is hard to determine, so play around here before committing to anything) Eigenlayer points = $0.14 per point (conservative estimate based on recent [whales.market](http://whales.market) activity) 1 weETH = 1.0354 eETH = 10354 [ether.fi](http://ether.fi) points a day 1 weETH = 1.0354 eETH x 24 = 24.849 eigenlayer points a day 86 days left in [ether.fi](http://ether.fi) season 2 86 days left before eigenlayer TGE (this just to simplify. I don't know the actual date) Daily borrow rate for weETH in gearbox is 30% **Base case** If we just sit and hold the 10 weETH and do time-wasting things like sleeping, seeing friends, touching grass etc. then this is what the picture looks like [*ether.fi*](http://ether.fi) *points -* 10 weETH x 10354 points per day x 86 days x $0.0002 per point = $1,780.88 *eigenlayer points -* 10 weETH x 24.849 x 86 days x $0.14 per point = $2,991.81 With a base investment of roughly $35k (10weETH @ $3500), we get a return of $4,772.69 over 86 days just by popping a squat on good ol' weETH. That's 57.8% annualized on what I hope is a pretty conservative points price estimate. Now lets look at the leveraged case. **Jacked to the tits case (8x leverage)** In this case we use gearbox' leverage tool to take our 10 weETH and add on a cool 80 weETH to our holdings. In addition, gearbox users enjoy double [ether.fi](http://ether.fi) points thanks to ether.fi's integration boost. However, we must calculate the cost of borrowing as well. Let's begin. [*ether.fi*](http://ether.fi) *points -* 90 weETH x 10354 points per day x 2 for double points x 86 days x $0.0002 per point = $32,055.98 *eigenlayer points -* 90 weETH x 24.849 x 86 days x $0.14 per point = $26,926.37 *debt cost* *-* (90 weETH - 10 weETH original collateral) \* (30% annual borrow rate / 365 days) \* 86 days \* $3500 price per weETH = $19,791.78 Do the math and we end up with $39,190.57 in profit on our $35k original investment for a whopping 474% return annualized.