Don Park

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= DeFi notes

2024 - Jun

https://app.ethena.fi/

https://www.hermetica.fi/
https://decrypt.co/239925/bitcoin-developers-launch-btc-backed-stablecoin-as-rune-token
“The protocol accomplishes this by coupling a spot BTC position with a short perpetual futures position,” explained Schillinger. The protocol’s design mimics that of Ethena, pioneers of the Ethereum-based stablecoin USDe


2023 - May
=== DeFiLlama ===

== Long-Short Strat ==

Given one trusted coin (T) and one untrusted coin (U), deposit both in liquidity pool. Early LP rewards. 
  * risk: U price drop devalues both the pool deposit and and previous rewards
    * mitigate: short U (buy puts) with strike price as current price of U
    * problem: no options market for U
  * boost: short U on a perpetual derivatives platform, collecting hourly fee
    * problem: derivatives platform pays only when short is against market sentiment (more longs than shorts)