That's because the reserve pool is now low on robinhood:0xee5576fa1bcaa380e591d01245f406f3f384eb01
It's incentivizing people to bring it robinhood:0xee5576fa1bcaa380e591d01245f406f3f384eb01 .
The exchange rate of DTF to DTF-DETF will drop quickly if people deposit DTF.
Guys, help me understand this because maybe I’m missing something 😁
When I entered:
100,000 DTF → ~0.1255 DTF-DETF
Today:
100,000 DTF → ~1.3175 DTF-DETF
So the exact same 100k DTF now gets ~10.5x more DTF-DETF.
Put another way, ~9,525 DTF today buys roughly the same amount of DTF-DETF that 100,000 DTF bought when I entered.
So in DTF terms, if my original position was worth $1,000, does this effectively mean the same DTF-DETF exposure can now be obtained for roughly $95–100? 😁
I understand the explanation about DTF-DETF now owning DTF/ETH liquidity, but if old and new DTF-DETF have the same claim on the same reserve, how exactly are early stakers protected from this ~10.5x repricing/dilution?
Maybe I’m misunderstanding the NAV mechanics, so would be great to see the actual calculation. 👀