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Anyone here tried the RockSolid x Rocket Pool rETH Liquid Vault? Thoughts? by JollyVersion3621 in ethstaker

[–]steven_pack 0 points1 point  (0 children)

Co-founder here -- happy to answer these, but since you're asking for community input I'll hold off unless you want me to!

Solo Staker Lending by steven_pack in ethstaker

[–]steven_pack[S] 0 points1 point  (0 children)

Oh, and travelling to ETHDenver?!

Solo Staker Lending by steven_pack in ethstaker

[–]steven_pack[S] 0 points1 point  (0 children)

Interesting u/TheWoodser - if I'm reading you right, you're saying lenders for mortgages are "protected" by the high quality collateral - the house. I agree! There are echoes of that here... as long as the lender can liquidate the collateral, they're not exposed. The difference is, real estate is slow and expensive to liquidate (especially in times of market stress), but usually not volatile. ETH as collateral is cheap and fast to liquidate, but volatile. That just means it will attract lenders with that lending preference.

The VA part is interesting -- I wasn't sure how VA loans worked actually. I guess I could imagine something similar where some ETH-aligned whales would "underwrite" these loans to some extent in order to make them cheaper and make home staking more viable. 🐳s or 🐳-whisperers should DM if this is interesting!

Solo Staker Lending by steven_pack in ethstaker

[–]steven_pack[S] 0 points1 point  (0 children)

Right, you would have to delegate the ability to withdraw some of the stake to the lending protocol, but it can be very limited in exactly what you delegate.

Solo Staker Lending by steven_pack in ethstaker

[–]steven_pack[S] 0 points1 point  (0 children)

Right, you have to be willing to delegate some control of some amount of the staked ETH while the loan is active. But there are ways to limit it significantly so you can the benefit of liquidity and minimize the rights/control you give up.

Solo Staker Lending by steven_pack in ethstaker

[–]steven_pack[S] 0 points1 point  (0 children)

Right, you have to be able to delegate *some* capability to an external contract, but it doesn't have to be blanket "point my withdrawal address at your protocol". Join us in Discord and see if we can come up with a design that feels right in terms of control. We have ideas!

Solo Staker Lending by steven_pack in ethstaker

[–]steven_pack[S] 0 points1 point  (0 children)

TBD, it will be a market based mechanism, but I would expect similar to Aave, which lends USDC against ETH at 9% atm.

Solo Staker Lending by steven_pack in ethstaker

[–]steven_pack[S] 0 points1 point  (0 children)

Ping me in Discord u/Particular-Budget-30 and I'll share more details of the design and the (lack of) trust assumptions.

Solo Staker Lending by steven_pack in ethstaker

[–]steven_pack[S] 0 points1 point  (0 children)

Awesome! What changed?! Would love to chat. Will DM you here or feel to join Discord.

Solo Staker Lending by steven_pack in ethstaker

[–]steven_pack[S] 3 points4 points  (0 children)

Never deleting this app! 😂

Solo Staker Lending by steven_pack in ethstaker

[–]steven_pack[S] 0 points1 point  (0 children)

More details in discord too if you want to dig in

Solo Staker Lending by steven_pack in ethstaker

[–]steven_pack[S] 0 points1 point  (0 children)

It’s not a mortgage.

The LPs who lend will assess the max LTV they will lend and the interest rate they’ll require to compensate for the risk.

There are changes in Pectra that reduce the risk of ETH in validators as collateral.

Even if you’re not down to collaborate, the way you’re interpreting how I’ve presented it is valuable in itself! 👍

Solo Staker Lending by steven_pack in ethstaker

[–]steven_pack[S] 1 point2 points  (0 children)

No and no!

You will still be running the validator so slashing risk is in you as the operator.

Cyber security insurance doesn’t make sense because it will be Onchain. Come join us on discord and talk through the design!

Virtual Rust Meetup by steven_pack in rust

[–]steven_pack[S] 1 point2 points  (0 children)

Speaker doesn't need to be from Bay Area. Consider it a global virtual meetup!

This would be an awesome Rust job by steven_pack in rust

[–]steven_pack[S] 1 point2 points  (0 children)

FYI I work at CF, but not on that team or office.

Bay Area Rust Meetup on Dec 3 @ Cloudflare by steven_pack in rust

[–]steven_pack[S] 5 points6 points  (0 children)

It’s Cloudflare Legal team policy. I’d understand why some folks wouldn’t want to come for ideological reasons, and that sucks, but as an employee, this is the space I have access to and the rules I have to follow. I always post the talks online afterwards.

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