SBF on Twitter: "Also where did it come from? People tried to give 5% yield. Then token price 10x'ed, so it was now 50% yield. It was sort of an accident." / Twitter

Daily DeFi Thoughts, 2020-08-11: Liquidity mining, in its current form, is stupid. It artificially inflates metrics. Maybe it was good for marketing but don't drink your own cool-aid: citing TVL is like citing fake exchanges' fake volume. $50m in real VL >>> $500m in fake VL.

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SBF

@SBF_FTX

Aug 10, 2020

Daily DeFi Thoughts, 2020-08-10: The proof is in the pudding. How do you know that the ETH network is valuable? The top 13 DeFi tokens are ERC20s. coingecko.com/en/defi How do you know @solana really is fast? Send 5x ETH network capacity yourself: break.solana.com/setup?cluster=

SBF

@SBF_FTX

Also where did it come from? People tried to give 5% yield. Then token price 10x'ed, so it was now 50% yield. It was sort of an accident.

8:44 PM · Aug 10, 2020Twitter Web App

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5% yield is fine! That makes sense, in terms of cost of capital. That's where projectserum.com/staking-voting and ftx.com/staking come from. 50% isn't yield, it's hyperinflation.

ftx.com

FTX

Cryptocurrency Derivatives Exchange

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