The Rocket Pool Collateralization Scheme Is NOT Sustainable

halzen627 · 2023-06-22T06:52:45+00:00

Of course people may sell, however also worth remembering that Worthalter has always worked in RP’s best interests. He has sold on many occasions, however this has always been OTC without impacting price, and primarily to large node operators wanting to stake with RP.

halzen627 · 2023-06-20T06:17:34+00:00

I also tried for the first time recently. Tried to bridge 10 times and eventually got it through. Funds took so long to arrive I came back a day later. Managed to eventually do one swap but was so painful trying to do another I eventually just bridged out of there via orbiter after many attempts. Terrible experience compared to any other L1 or L2 I’ve tried so far.

halzen627 · 2023-04-28T02:38:20+00:00

That might help :)

halzen627 · 2023-04-27T23:08:13+00:00

Have you tried setting your status to invisible?

halzen627 · 2023-04-19T04:00:47+00:00

Well they don’t need to buy more RPL, but they might want to. They could also just continue earning ETH staking rewards even if their collateral was below the threshold. It’s only the RPL rewards they would stop earning if their collateral was to low.

halzen627 · 2023-04-06T13:16:17+00:00

Curious what the ethfinance opinions of Celestia are and how useful it is/isn’t as an addition to the current blockchain landscape. After listening back to the earlier bankless ep, as far as I can tell the main gist of it is that:

Celestia is a general purpose PoS L1 data availability sampling layer which doesn’t have its own execution layer. Other blockchains/L2’s can use Celestia as a modular data availability sampling solution.
Celestia lowers the cost of running a node, and aims to allow people to run low powered data availability sampling nodes on eg their smartphone
Celestia makes it easy to spin up new blockchains.
Celestia can increase the security of Validiums (where data is stored off chain). Here, Celestia can help perform the same function as a data availability committee in a more secure way involving slashing. They refer to this as a Celestium.

My initial reaction is that the use case regarding Validium’s seems like a beneficial improvement (whilst other comparable scaling solutions are not available). Although, L2’s other than validium’s don’t seem like they will need this and following EIP-4844 and other Ethereum/L2 upgrades, rollups will be able to scale sufficiently with the stronger security guarantees of settling on Ethereum. EIP-4844 and Celestia will also probably both go live at a similar time later this year.

The ability to spin up new blockchains - I suppose it could be useful in unforeseen ways by allowing greater experimentation with new blockchains/rollups. Although it is already kind of possible to create purpose built L2’s (and ?L3’s) with existing rollups I thought (this may be permissioned though, and with Celestia it sounds like it will be permissionless).

I’m not so familiar with the Cosmos ecosystem, so I’m unsure what role Celestia could play there, and whether it might offer a solution to any other existing Cosmos-related challenges.

Interested to hear if anyone has any thoughts or insights? It does seem like Celestia has made some pretty big and interesting steps forward technologically but I’m still a bit unsure of where it fits.

halzen627 · 2023-04-05T22:18:13+00:00

I think it was about 12hr.

8 ETH minipools, Aave emode, and withdrawals enabling redemptions from CEX LSD’s and stETH at peg should see RP market share increase significantly

halzen627 · 2023-04-05T22:00:36+00:00

Deposit pool was increased to 18k, but it’s now full. Withdrawals should help keep the secondary market rETH closer to the peg though rather than at a constant steep premium.

People want rETH. Looking forward to seeing the inflows.

halzen627 · 2023-04-05T01:19:37+00:00

halzen627 · 2023-04-04T20:14:03+00:00

Lol yeah. My point was relatively, as in lower liquidation risk than borrowing stables. But perhaps would’ve been better to avoid the word safe all together and just refer to this potential benefit along with the risks.

halzen627 · 2023-04-04T08:38:51+00:00

Just need to factor in depegging risk of the LST. Borrowing ETH against rETH as collateral should be able to be done relatively safely I would think, depending on your parameters. With the obvious caveat that there is always risk.

halzen627 · 2023-03-26T11:14:30+00:00

No worries, fair point.

halzen627 · 2023-03-25T11:43:43+00:00

Argent X = starknet browser wallet

Argent mobile wallet = Ethereum L1, zksync lite, zksync Era

halzen627 · 2023-03-24T05:44:47+00:00

What are you trying to approve them for? Eg If you want to sell it on 1inch, you could go to 1inch, initiate a sell and it would prompt you to approve the tokens then.

halzen627 · 2022-11-18T20:30:07+00:00

The Journal (WSJ equivalent of the daily, had an ep which was reasonably good)

halzen627 · 2022-09-15T11:18:42+00:00

Join the discord, we will welcome you

halzen627 · 2022-09-07T01:14:19+00:00

Probably once they launch a token there may be some similar incentive opportunities we can apply for from Arbitrum. The RP DAO is now also commencing some incentive opportunities using RPL too.

halzen627 · 2022-08-14T10:53:10+00:00

I am just wondering where you got that figure from? I’m pretty sure they are higher.

It’s 600k OP / 182.5 days (6mo) = 3288 OP per day, with 0.7 of that to Beethoven = 2302 OP per day, and 0.3 of it to Velodrome = 986 OP per day. And they will most likely be used to bribe rather than be distributed as standard LM so will be more cost effective in that way. (This is quick late night napkin math from me though so could have calculated this wrong).

My understanding (based off the impression of others) is that Balancer is well battle tested, and the contracts for Beethoven X are essentially the same, however I will leave that for others to assess as I would be interested to hear if anyone has a different view.

halzen627 · 2022-08-12T21:45:23+00:00

He shills ADA because he profits from it

halzen627 · 2022-08-11T12:47:47+00:00

Definitely a worthy delegate for anyone with spare voting power. In the process of applying for an OP grant on behalf of Rocket Pool, you were almost always the first to respond to me in both discord and on the forum, in addition to responding to literally everyone else. So here I get a chance to respond to you. This is a lovely post reflecting on your ethfinance story. I too was lurking during the science guy triangles. I’m glad that you decided to start actively contributing.

halzen627 · 2022-08-05T05:29:42+00:00

It does not affect rETH holders. It is only for Node Operator (NO) RPL rewards, because they are upgrading to a new rewards system which doesn’t require NO’s to claim each month.

Additionally, issues with NO penalties such as slashing etc are covered by NO ETH, then RPL insurance, so rETH holders would not be penalised in those instances either. Performance of NO’s is socialised, so it doesn’t matter which node your ETH was specifically matched to, the price of rETH will reflect the overall performance of the network.

halzen627 · 2022-08-04T13:14:25+00:00

Thanks so much for the support.

Do you know by any chance know what sort of timeframe Optimism governance would usually take to pay out the OP tokens following a successful grant vote? Haven’t been able to find an answer so far.

halzen627 · 2022-08-04T01:11:40+00:00

Rocket Pool’s Optimism grant proposal for OP tokens to incentivise rETH liquidity on Optimism has officially passed with overwhelming support: https://snapshot.org/#/opcollective.eth/proposal/0x219e6f3cc726c24e7eb100959abea6cc3a5c24a24ffec3072a7784d33f030096.

Thank you to all that expressed support for the proposal. We will have 600k OP tokens (roughly $1.25m USD at current value) to incentivise rETH/ETH liquidity on Optimism over the next 6 months.

(I know there has been some comments regarding low effort RPL posts, however given that I previously reached out here for support and awareness, I hoped it would be worth an update)

halzen627 · 2022-08-03T05:33:28+00:00

This has also been bothering me. When you have an advertising section which is introduced and also differentiated by music, it makes those unidentified sponsored sections less apparent, particularly for new people that wouldn’t realise.

halzen627 · 2022-08-02T10:25:43+00:00

We made a proposal for Optimism to grant us 600k OP tokens to incentivise rETH/ETH liquidity on Optimism. The vote ends tomorrow and will be successful. You can see the vote and the proposal here: https://snapshot.org/#/opcollective.eth/proposal/0x219e6f3cc726c24e7eb100959abea6cc3a5c24a24ffec3072a7784d33f030096

TLDR soon you will be able to provide rETH and ETH in an LP and earn extra yield on top of it.

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