Co-founder and CTO @paretocredit (fka @idlefinance) | Ethereum developer
Italia
- Tweets 584
- Following 2,612
- Followers 857
- Likes 6,344
Usual day of hard work for @paretocredit
@SamsterIT your turn
Nice one! Here's a photo of me and Nils Fram during the @Dune Conference in Berlin
@bugduino, you’re next!
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Huge shoutout to the amazing contributors who joined us and helped push our vision: @OpenBitLab, @0xbakuchi, @dantop114, @gravityblast, @emilianobonassi, @Ginnymmm, @DenisDevcic, @biafffff, @NikAndMan, and many more.
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We connected with incredible peers building cool stuff in crypto: @SamiStart, @YeshuAgarwal, @MickdeG010, @Alexintosh, @polluterofminds, @tzhen, @LSDan_DeFi, @PatrickManfra, the French mafia of @official_trakx & @cryptio_co @AntoineScalia, and many others.
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By November, we were in NYC for the @TachyonXYZ accelerator by @ConsenSys. Huge thanks to @zherring and @katlynbjohnson for believing in our vision! We met amazing people and dove deep into the crypto space.
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It all began at a @gitcoin hackathon in June 2019. Me, @pan_teo_, and @SamsterIT built our first barebones yield aggregator using @compoundfinance and @bZxHQ. Check out our "fantastic" UI below 😂
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🎉 Celebrating 5 incredible years of @idlefinance! What a journey it's been, and we're just getting started 🚀 Dive into our story below.
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Solidity dev diary:
Started with a sleek method 20 LOC
>Stack too deep
Refactor with helper functions 30 LOC
>Stack too deep
Used structs. 50 LOC now
>Stack too deep
Used more structs and helpers. ∞ LOC
>Stack too deep
Laptop out of the window
Day ends and 👇
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For USDC: Junior tranches from @idlefinance have an APR consistently > 15% (soon on @0xPolygonLabs zkEVM too) -> app.idle.finance/#/stats
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Degen mode for $ARB on @DefiLlama seems fair enough, I want to sell at this rate and never look back, are you the counterparty @0xngmi ? 😁
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The new dashboard is a game-changer! The attention to detail and seamless functionality are unparalleled. Kudos to @SamsterIT, @LeonardoCrosato, and the rest of the team for their hard work and dedication
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To sustain the boosted APR for junior holders and take advantage of the coverage they provide, senior holders have their yield limited in the range of 50% <> 99% of the base yield. The amount of yield reduction is proportional to the amount of coverage they get
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Idle had these kind of tranches for @ConvexFinance and @LidoFinance since Dec, with Lido being the most popular now, accounting for more than 90% of all PYTs TVL.
As long as there is TVL, those tranches work as expected, with senior tranche gaining less interest for protection
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Yes today please
Want to get your PYTs future yield today? While hedging from smart contract and APY volatility risk?
Now you can, with the new Senior Tranche $FRAX pool on @APWineFinance! 🧩
Check the steps below to see how to assemble these #moneylegos & compound APYs on multiple protocols ⬇️
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Let the battle begin!
📢 TRANCHES BATTLE ⚔️
With continuous improvement of Idle’s Perpetual Yield Tranches, we will integrate the top 5 assets from the 63 listed on @ConvexFinance into Idle PYT! 🚀
With $IDLE holders & community having the decision making power 🏛
More🧵 ⬇️
gov.idle.finance/t/tranches-…
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The implementation of Idle PYT is designed to be composable and easily configurable 🧩
This enable a lot of new use cases like:
- Tranches as collateral
- Personalized structured products
- Basket of tranches (eg CDOs)
- and many more ...
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For this protection, junior holders will get a chunk of the yield of the senior tranche and so a leveraged yield compared to their capital. The amount of leverage/protection depends on the ratio between senior and junior holders
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Senior tranches earn protected yield and in case of default of the yield source or any loss of the principal, these will be the first ones to be repaid. All remaining funds, if any, will then be split among junior holders
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With Idle PYT you can earn tranched yield with no lockups from your favourite yield source. The interest is streamed' and split continuously between the tranches allowing you to earn according to your risk appetite without having to constantly manage your position
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Great vibes today during #DefiDay at @TachyonAccel. Glad to have met very interesting people in the #DeFi community! 🤝
Proud to be shaping the future of finance at @idlefinance with @pan_teo_ and @SamsterIT 🌀
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