"This allows us to rapidly unwind positions", highlights why illiquid RWAs should run redemption models like any non traded business development company process redemptions in batches, allocate available liquidity pro rata, and reflect updated loss estimates in NAV before payouts if early redeemers can leave at a stale NAV, losses fall disproportionately on those who remain example, a 5% loss on the original book becomes a 5.6% hit to remaining holders if 10% of the capital exits at the old NAV first. passive holders end up exposed to larger write downs than the underlying economic loss they modeled

degenerate gambling is a massive market @papertrade_xyz is my favorite version of it and likely the highest EV clear rules, parabolic payoffs, no KOL driven grifts rather have this succeed than anything else out there

These pure stablecoin LaaS integrations are very bullish for Fluid First Paxos with USDG now UDSGO from OSL These add no risk to the balance sheet while expanding Fluid's unstoppable liquidity network effects

private credit RWA are growing, yet only a minority of them are actually productive onchain the two reasons usually given for why tokenizing private credit makes sense: issuer side: distribution holder side: novel access to yield sources, and making that yield productive via composability the underrated one is liquidity for these assets to be underwritten and become productive, curators and leveraged carry traders need to be able to exit atomically but private credit has duration baked in, tokenized or not. in tradfi private credit is mostly illiquid and you can only redeem periodically once tokenized, programmability and atomic settlement allow global secondary markets to emerge very efficiently variable rate fixed income assets with a steadily rising share price is non volatile by nature. AMMs are very well suited for this, no divergence loss in normal times and far more competitive for the issuer than a mandated active MM @0xfluid and @juplend have leveraged this like no other with their capital efficient DEX designs and 'Liquidity as a Service' offering below are the top 10 assets matching the OP criteria: USDY, syrupUSDC, wYLDS, PRIME, sUSDAI, PST, reUSD, ONYc, syrupUSDT and syrupUSDG 3 of the top 7 issuers from that list have signed up for LaaS (Re, Huma, UsdAI), Paxos did as of yesterday, but not part of this category). the assets running on LaaS rank in the top 5 for deepest atomic liquidity in that list, with unwind slippage below 50bp (screenshot 1) reUSD is a good example to showcase the benefits of having deep liquidity. screenshot 2 charts the market price vs redemption basis of reUSD over the last 12 months, showing a clear improvement since running on LaaS This has played a significant role in allowing its AUM to grow ~3x since (see screenshot 3) Curators are willing to allocate to it, carry traders are comfortable running leverage. the reason I am excited about this is that tokenization allows a historically illiquid asset class to become liquid in theory, whatever spread an investor requires over the risk free rate includes a liquidity premium. tokenized private credit can structurally compress that premium, which widens the set of real world opportunities that become economically feasible to fund data provided by @credditxyz, @herd_eco

This is a nice summary of what has been cooking at Fluid over the last couple of months if you haven't been in the Telegram channel The team has relentlessly pushed new initiatives despite the setbacks suffered from Resolv and Kelp While the release of DEX v2 had to be pushed back due market conditions, Fluid managed to: - establish itself as a key player within credit RWAs (through LAAS) - grow its Solana market to overcome its biggest deployment on Ethereum - launch fixed rate managed vaults that now generate 100k+ in monthly revenue - take learnings from the kelp and resolve incidents to ship a new oracle design that powers context aware circuit breakers (more on that soon in a bigger credit RWA piece i am working on) - launch its first third party curated market with Bitwise ($500m+ market size) and DEX v2 is finally around the corner, very excited for its launch!

The whole debate between isolation and pooled lending models is only semantics in practice on the supply side they are all pooled models - Aave v4 hubs pool liquidity and allocate to spokes - Meta Morpho vaults pool liquidity and allocate to markets - Fluid instances pools liquidity and allocate to single collateral vaults - Aave v3 instances pools liquidity and allocate via cross margin supply and borrow caps They differ in terms of features such as oracles, rehypothecation, governance, circuit breakers, ability to set risk premia etc. that is they differ in terms of tools available to a risk manager to manage the "pool" the only thing isolated on the supply side is directly supplying to a morpho market but that is not happening in practice

The launch of yet another L1 with @arc is the least exciting news of the day that I can think of

99% of the work routers do is identical. It's a waste of capital. Fynd (router from @PropellerSwap) is open source. Everyone should get behind it and improve it! Routing would get better, more robust, and more transparent edge can come from private orderflow etc.

LPing on AMMss is just really fun might be a good idea to model that into utility curves before writing off AMMs good guide on how to LP here: xitter.cf/DefiIgnas/status/20951… good tools @revertfinance @vfat_io

Did anyone in the Uniswap team ever try to LP via their frontend? serious question

So every mainstream media outlet is about to write about AMMs cause we’ll see GameStop like squeezes caused by pairing stonks with memes on AMMs It couldn’t have been written better