JUN 27, 2022 • 7 Min Read
Disclosure: Delphi Ventures has invested in BTC, ETH, Offchain Labs (Arbitrum), and Lido. Members of our team hold stETH, are recipients of the OP airdrop, and are participating in the Arbitrum Odyssey. These statements are intended to disclose any conflict of interest and should not be misconstrued as a recommendation to purchase any token. This content is for informational purposes only and you should not make decisions based solely on it. This is not investment advice.
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[Excerpt from a Delphi Pro Report]
If stETH is trading >1 ETH, users can deposit ETH into Lido and receive stETH in return, selling the stETH into the open market and capturing the spread.
If stETH is trading <1 ETH, users can purchase discounted stETH and then redeem it for ETH, selling the ETH into the open market and capturing the spread.
Deposit stETH on Aave
Take an ETH loan
Use the loaned ETH to purchase stETH on Curve or convert it to stETH on Lido.
Re-deposit the stETH on Aave. (You can continue this cycle depending on your risk tolerance.)
Harmony Bridge Compromised
1/ The Harmony team has identified a theft occurring this morning on the Horizon bridge amounting to approx. $100MM. We have begun working with national authorities and forensic specialists to identify the culprit and retrieve the stolen funds.
More 🧵
— Harmony 💙 (@harmonyprotocol) June 24, 2022
Lido Votes Against Self-limit
the loudest people for lido to self-limit were, and has always been, non-tokenholders (and bagholders of competing projects) whose opinions do not matter on this subject
https://snapshot.org/#/lido-snapshot.eth/proposal/0x10abedcc563b66b1adee60825e78c387105110fa4a1e7354ab57bc9cc1e675c2
— 찌 G 跻 じ Goblin 𝙎𝙚𝙣𝙥𝙖𝙞 of the 𝙃𝙚𝙣𝙩𝙖𝙞 (@DegenSpartan) June 25, 2022
ETH’s 2nd Testnet Merge on July 6th
– Sepolia Merge is scheduled for ~July 6th. TTD will be shared on Monday and clients should have releases with it announced by EONW.
— Tim Beiko | timbeiko.eth 🐼 (@TimBeiko) June 25, 2022