Let me explain what happened last night with ListaDAO, MEV Capital, and USDX. First, Lista Lending's MEV USDT Vault showed an APY that surged to 3570%. However, this is compounded interest; the actual annualized rate is around 300%, less than 1% daily. The reason is that ListaDAO removed the 30% cap on borrowing rates early yesterday morning. This was undoubtedly a wise move, as the risk on USDX was already very evident, and the last escape route was the remaining liquid available for liquidation on DEXs. Then, looking at MEV Capital, after ListaDAO removed the interest rate cap, MEV Capital's AdaptiveCurveIRM mechanism started to take effect. Simply put, when the utilization rate exceeds 90%, the borrowing rate will increase exponentially. If the utilization rate still doesn't drop below 90% under these circumstances, the latter half of the curve will continue to shift upwards, increasing exponentially. Furthermore, MEV Capital has a larger risk exposure to manage through Stream Finance, which may be where MEV Capital is currently focusing its efforts. So, what will happen next? What we're seeing is that even with borrowing rates soaring to new highs of 300% to 800%, borrowers (suspected Stables Labs-related addresses) show no signs of repayment. There have even been instances of them exchanging USDX for USDT and depositing it into Binance. If this continues, proactive risk control measures from AdaptiveCurveIRM or other curators will quickly trigger the liquidation of USDX/sUSDX. Based on current data, this process is estimated to occur within three days. Currently, the counterparty LP liquidity for USDX/sUSDX on DEXs is less than $10 million, while the lending market position is likely above 10x. A stampede is inevitable. Therefore, my advice is not to be greedy for a 1% daily return. Withdraw funds from the following Vaults as soon as possible, provided you have liquidity (PS: The ListaDAO protocol itself is safe and reliable; the risk is limited to specific Vaults): 1) ListaDAO's sUSDX-lisUSD pool 2) ListaDAO's MEV Capital USD1 and USDT pools 3) ListaDAO's Pangolins USDT Vault 4) Re7 USD1 Vault 5) Euler's USDX and sUSDX pools 6) Silo's sUSDX/USDC pool

RT @BeraLabsCN: 🔸Henlo, Xiaoxiong also brought you the @Berachain Morning Post today, please check it out. 🪙Webera: $weiBERA Reward Vault is now motivated @WeberaFinance is a revenue vault protocol that helps users automatically manage positions. WeiBERA is a credential token when the user deposits $i…

RT @BeraLabsCN: 🔸Henlo, let’s check out what new news @berachain is today~ 🏦A new batch of reward vaults are released Bear Link released a governance proposal on Monday night, and the fifth batch of RFFVs passed this time is the largest batch of vaults to date. It is worth mentioning that the Boyco pre-deposit funds that will be unlocked on 05/06 have also received...

RT @BeraLabsCN: 🔸Henlo, don't forget to check out today's @berachain Bear Morning News 🏦Berachain Foundation: The fourth batch of reward vaults have been approved This morning, Bear Chain Foundation announced the fourth batch of vaults, with a total of three vaults being criticized: Kodiak-BERA-AVL, Dolomite-dHONEY, Res…

RT @BeraLabsCN: 🔸Henlo, what are the things worth paying attention to today @berachain? 💰Ooga-WBERA's incentives are online Currently, you can add Ooga-WBERALP in Kodiak and then stake the LP tokens to the Reward Vault, Infrared and Beraborrow. Kodiak: h…

According to Mars Finance, Galaxy Digital, owned by Mike Novogratz, has transferred 65,600 ETH (about $105 million) to Binance in the past two weeks and withdrawn 752,240 SOLs (about $98.37 million), which is suspected of a significant adjustment of its asset structure. The move comes amid a backdrop of ETH falling nearly 20% in the past month while SOL gains about 8%. Standard Chartered Bank's recent report pointed out that ETH faces a "structural downturn" and lowered its year-end target price. Galaxy currently still holds about $87.9 million worth of ETH and $23.86 million worth of SOL, according to Arkham data. The Solana ecosystem continues to expand, with DEX trading volume exceeding US$500 billion in three months, far exceeding Ethereum's US$400 billion, and the number of active addresses has exceeded 220 million. (CoinDesk)

🔸 Sui has a lot of ecological furnishings, first the domain name $NS, then the order book $DEEP, and then the nearest walrus $WAL. 🔸This wealth-making effect has also attracted many people to interact with each other. But many old agreements have either issued coins or are not suitable for entering the market now. 🔻So today let’s talk about what potential Dapps in the Sui ecosystem can interact with? 1/Steamm @steammfi is an AMM protocol developed by Suilend, with a current TVL of $7.46 million. Steamm will deposit idle liquidity into suitend for additional benefits. The protocol has launched the points mechanism, which currently provides liquidity for the pools of WAL-USDC and SUI-USDC, and can accumulate Points: https://t.co/zSGVxzRiLk 2/Kai Finance @kai_finance_sui s You have a leveraged income mining agreement, the current TVL is $24.65 million. Kai Finance provides two liquidity mining solutions: https://t.co/Nqp7uuypNQ Novice can choose to use single-coin vault pledge, without the need for active management and no impermanent risk of loss. Degen, who is eager for profit, can use the LP vault to pledge it. The LP vault will borrow liquidity from the single coin vault and mine with 11 times the leverage. 3/Magma @Magma_Finance is a Ve(3,3) Dex with a current TVL of $6.83 million. Magma was launched in February this year, but has not yet launched tokens, so Vote, Lock, Incentive and other functions are not yet open. What can be done right now is to provide liquidity in its CLMM and use its front end to Swap: https://t.co/wdbDMMEZDr 4/MetaStable @MetaStables is a CDP protocol incubated by @AftermathFi with a TVL of $3.58 million. Users can mortgage derivative assets such as SUI/USDC/BTC/ETH and mint M assets, such as mSUI/mUSD/mBTC and mETH. Users can use m assets for the Defi protocol, thereby earning mPoints for future token exchange: https://t.co/3VecmPTzID 5/Momentum @MMTFinance aims to become the liquidity center of Sui Eco, completing a $10 million financing, and the current TVL is $15.43 million. Momentum is a Ve(3,3)DEX, they entered the liquidity-guided phase on 03/31 with a goal of $50 million TVL. A 12-week WAGMI trading competition will be held later. Momentum will reward early adopters veMMT based on user transaction volume and liquidity provided: https://t.co/jPYQ75Imjd

RT @BeraLabsCN: 🐻Henlo Let’s take a look at what things @berachain are worth paying attention to today~ ✅Berachain Foundation: The third batch of PoL vaults have been approved @berachain Last night, a governance update article was released, announcing a new governance team and reward vault. In the future, the Governance Committee will be responsible for reviewing the award vault, which is worth mentioning...

RT @BeraLabsCN: 🔸Henlo, don't forget to check out today's @berachain message. 🔻 👾Jani: Mibera NFT may be delivered & secondary transactions on 05/20 @miberamaker333 is a popular NFT project incubated by @0xhoneyjar, which completed the NFT pre-sale not long ago. …

🔸Abstract Chain this week @AbstractChain also launched new projects and Flash Badge. 👇While getting the badge, let’s learn about the project by the way~ Badge's acquisition requirements this week are very low. Just pledge ETH on the @dinero_xyz platform and obtain absETH. Dinero is an Ethereum earnings protocol, they have a flagship LST - pxETH. Dinero is currently also building brand LST on major L1/L2 chains, such as beraETH, zkETH and absETH. Let’s take absETH as an example to talk about its principle: 1/The user saves ETH on abstract 2/Dinero will cross ETH to the main network of Ethereum 3/This ETH is then staked by the liquidity as apxETH (auto-compounded pxETH) 4/apxETH is packaged into absETH and bridged back to abstract. 5/The user receives absETH Navigate to the Abstract pledge website and pledge 0.00001 ETH: https://t.co/KU88X6aGSH Getting the badge does not look at the number of ETH pledges, but only depends on whether you have a pledge record. Currently, if you want to cancel the absETH stake, you have to interact with the Ethereum main network. The cost of bridging + Swap here is about 1U. This is not recommended. However, according to Dinero, they will soon launch native redemption on Abstract. In addition to canceling the stake, you can also directly swap absETH to ETH in the Trade panel: https://t.co/kAZFQGJ9Cf