LΞGΞNDARΞTH @Legendareth

Let's reshape finance | Always learning, always educating #DeFi & #Crypto | Trusted by leading protocols | NFA / DYOR | 📩 Open for business t.me/Legendareth Planet Blockchain Joined November 2022

Tweets

6K
Followers

43K
Following

932
Likes

6K

LΞGΞNDARΞTH @Legendareth

2 years ago

@LeonardoDPinchy @solana Will check 💪🏻

0 0 3 48 0

View Details

LΞGΞNDARΞTH @Legendareth

2 years ago

Jumped on the @solana AI hype train, did I miss something? Add it to the list fren... and thanks. $GRIFFAIN $VVAIFU $AI16Z $DGPU $ARC $TRISIG $COVE $BROT

3 0 10 2K 1

View Details

LΞGΞNDARΞTH @Legendareth

2 years ago

@CrossChainAlex 😅

0 0 0 77 0

View Details

LΞGΞNDARΞTH @Legendareth

2 years ago

@SeverusCrypto @Factor_fi Excellent! Good share wizzard!

0 0 1 37 0

View Details

LΞGΞNDARΞTH @Legendareth

2 years ago

@elonmusk Are you saying you are not calling your government department $DOGE? 😅😉

0 0 2 189 0

View Details

LΞGΞNDARΞTH @Legendareth

2 years ago

@Factor_Intern As long as it is not Walter White you are good.

0 0 0 16 0

View Details

Factor Intern @Factor_Intern

2 years ago

🎵 I see bribes in green, Cash-stuffed in white, The deals of the day, Made out of sight, And I think to myself, What a wonderful world.🎵

1 1 4 428 0

View Details

LΞGΞNDARΞTH @Legendareth

2 years ago

@Factor_Intern GM bribes, I'll have some.

0 0 0 34 0

View Details

LΞGΞNDARΞTH @Legendareth

2 years ago

@NickNFTn ETH?

0 0 0 27 0

View Details

LΞGΞNDARΞTH @Legendareth

2 years ago

Thoughts?

0 0 3 305 0

View Details

LΞGΞNDARΞTH @Legendareth

2 years ago

@TedPillows Taking in account your pics perspective, you are on one of these?

4 0 3 47 0

View Details

LΞGΞNDARΞTH @Legendareth

2 years ago

Always wanted to build a protocol or strategy? Now you can, simply using templates or building blocks. Use @FactorDAO 's Studio (beta), for access use the code: FCTR-4YL1 at studio.factor.fi

0 2 8 655 0

View Details

LΞGΞNDARΞTH @Legendareth

2 years ago

@FactorDAO Bribe me, but bribe me well.

0 0 1 40 0

View Details

You can't blame a intern for not explaining. 👶🧠 - Stake FCTR, get veFCTR - Vote on the preferred (or bribed) strategy - Receive your share of the bribes after the epoch - Receive your share of platform fees every month It all starts here: app.factor.fi/governance/sta… @FactorDAO @Factor_Intern @Kurapika_DAO

Factor Intern @Factor_Intern

2 years ago

Wut?! I am paid to vote! HECK YEAH! I'm an influencer now! Gonna catch me some rewards! And these ARB rewards?! They’re heavier than my deadlift yesterday!

1 0 5 1K 0

1 0 14 1K 0

View Details

LΞGΞNDARΞTH @Legendareth

2 years ago

@BabaYagaStorm 🪄

0 0 0 14 0

View Details

ASXN @asxn_r

2 years ago

1/ The Ethereum ETFs are set to go live on July 23rd. There are a number of dynamics present with the ETH ETF that have been overlooked by the market & which were not present with the BTC ETF. We take a look at flow predictions, ETHE unwinds & the relative liquidity of ETH: The fee structure of the ETF ETFs is similar to that of the BTC ETFs. Most providers are waving their fee for a specified period, to help accumulate AUM. As was the case with the BTC ETFs, Grayscale has the maintained their ETHE fee at 2.5%, an order of magnitude larger than other providers. The key difference this time around is the introduction of the Grayscale mini ETH ETF, which previously wasn’t approved for the BTC ETF. The mini trust is a new ETF product by Grayscale that originally disclosed at 0.25% fee, similar to the other ETF providers. Grayscale’s idea here is to capture a 2.5% fees on lazy ETHE holders, whilst funneling more active and fee sensitive ETHE holders to their new product, instead of having funds siphoned to low fee products such as Blackrock’s ETHA ETF. After the other providers undercut Grayscale’s 25bps fee, Grayscale came back and reduced the mini trust fee to only 15bps, making it the most competitive product. On top of this, they moved 10% of ETHE AUM to the mini trust and gifted ETHE holders this new ETF. This transition was completed at the same basis, meaning it was not a taxable event. The resultant effect is ETHE outflows will be more muted as compared to GBTC as holders simply transition to the mini trust. Now we look into flows: There have been many estimates for the ETF flows, some of which we have highlighted below. Taking the estimates and standardizing them yields an average estimate in the $1bn/month region. Standard Chartered Bank offers the highest estimate with $2bn/month, while JP Morgan is on the low end at $500m/month. Fortunately, we have the help of Hong Kong and European ETPs as well as the closing of the ETHE discount in order to help estimate flows. If we take a look at the breakdown of AUM in HK ETPs, we arrive at two conclusions: 1. The relative AUM BTC and ETH ETPs are overweight BTC vs. ETH, the relative market cap sits at 75:25, while the AUM sits at a ratio of 85:15. 2. The ratio of BTC v ETH in these ETPs is reasonably constant and in-line with the ratio of BTC market cap to ETH market cap. Looking at Europe, we have a larger sample size to look at – 197 crypto ETPs with a cumulative AUM of $12bn. After we boil down the data, we find that breakdown of AUM in European ETPs is broadly in line with the market cap for Bitcoin and Ethereum. Solana is over allocated relative to its market cap, this comes at the expense of ‘Other crypto ETPs’ (Anything not BTC, ETH, or SOL). Setting Solana aside, a pattern is beginning to emerge – the breakdown of AUM globally between BTC and ETH broadly reflects a market cap weighted basket. It’s important to consider the potential for ETHE outflows considering the GBTC outflows were the genesis of the ‘sell the news’ narrative. In order to model potential ETHE outflows and its affect on price, it’s useful to look at % of ETH supply in the ETHE vehicle. Once adjusted for Grayscale mini seed capital (10% of ETHE AUM), the proportions of ETH supply as a function of total supply existing in the ETHE vehicle is similar to that of GBTC at launch. It’s unclear what proportion of GBTC outflows were rotational vs. exit, however if we assume the proportion of rotational flows to exit flows is similar, ETHE outflows have a similar impact on price to GBTC outflows. Another key piece of information that most are overlooking is the ETHE premium/discount to NAV. ETHE has been trading within 2% of par since May 24th – whereas GBTC first traded within 2% of NAV on Jan 22nd, only 11 days after GBTC converted to an ETF. The approval of the spot BTC ETFs and their effect on GBTC was slowly priced into the market, whereas the ETHE discount to NAV trade has been far more telegraphed with the story already written with GBTC. By the time the ETH ETFs go live, ETHE holders will have had all of 2 months to exit ETHE around par. This is a key variable that will help stem the ETHE outflows, specifically the exit flows. Continued in the next tweet >

10 127 554 172K 356

View Details

LΞGΞNDARΞTH @Legendareth

2 years ago

@Factor_Intern @FactorDAO It's a work in progress but I'm getting there.

0 0 0 16 0

View Details

LΞGΞNDARΞTH @Legendareth

2 years ago

I want all those rewards for myself! (@Factor_Intern can have some 2) So people, please don't stake your FCTR on @FactorDAO and screw up my % on the 3 incentives they offer!! 😅😂

Factor @Factor_fi

2 years ago

Factor Bribes: 1/3 of our Incentive Layer 💰 It’s a straightforward way for veFCTR holders to earn more rewards for their influence while Bribers can achieve greater capital efficiency 📈 Still not getting how it works? Let’s break it down 👇 1/7