JAN 10, 2023 • 5 Min Read
Barry Silbert speaks on Genesis in a letter to shareholders as Gemini officially ends the Earn program.
Today, we take a look at the surging daily transactions on Ethereum L2s, while our Research team provides insights into the future of ETH liquid staking.
This is the Delphi Daily. Let’s dive in.
More on Liquid Staking Derivatives
1/ Most speculators don’t know the differences that set apart Liquid Staking Derivatives (LSDs) competitors like @LidoFinance, @Rocket_Pool & @fraxfinance.
Let’s take a look at the $ETH staking market from a business & financial perspective ⬇️🧵
Liquidations on Euler
1/21 If a protocol is liquidating a $100m borrow from Celsius or Alameda or whoever…
The last thing it ought to do is give away $5-15m collateral to liquidators/validators.
Yet this is exactly what happens on a lot of lending protocols today.
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