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Crypto needs fixed rates!
Proud to be part of Superteam USA
See you in Miami next week 🫡
Crypto needs fixed rates and that's exactly what Jack & JSB are doing with @JettyFi.
These Superteam USA members are back to building!
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Oh yeah? 👀
Program officially deployed to mainnet
s/o to the 🐐 @bluemoose123
private alpha invites going out soon 👀
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We are going to fix DeFi's floating rate problem and create the world's largest derivatives market onchain
🛟
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Delta neutral does not guarantee no draw downs.
if any yield product claims to be DN but doesn't have a hedge on their funding rate... send them our way to have a little chat
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The answer is an AMM. But a better AMM purpose built for rate markets.
Better capital formation and efficiency.
Better trader execution environment.
Predictability and reliability win.
Rate swap trade unlock is HUGE, and the question is should rate swap products use an orderbook (like boros) or AMM
I been trading on boros and the liquidity is very thin (i don't know where market markers can hedge their positions)
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TLDR
- Jetty creates the first real yield curve to finally trade the future cost of money across different time horizons
- Trade exactly the tenor you need. Not whatever you're forced to fit into
- Unified liquidity = better execution across all markets/tenors
win-win-win
Every rate in DeFi is floating, and without the ability to hedge rates, DeFi will remain limited to being useful only for speculation and gambling
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If you’re running a basis trade and need an onchain funding rate hedge. Send us a DM
The main thing Ethena tells us is that if you rely on others to generate your yield, you are unable to build a moat that is defensible
Every MM or trading desk I speak to is running delta neutral strategies
Ethena showed how profitable the basis trade could be, then watched it become ultra competitive which ultimately makes it impossible for them to scale
Apart from some offchain no-ADL handshake agreements there is no moat here and it will become increasingly harder for Ethena to generate a large portion of yield from basis
If you don’t own your yield source, which no one else can access apart from you
You don’t own anything
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Jetty’s dynamic fee system acts as an automated, algorithmic hedge fund designed specifically to defend passive LPs from adverse selection and toxic flow
🛟
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You can't build internet capital markets when every onchain rate is floating...
Thankfully, we'll soon have Jetty to fix that
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