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Really interesting dynamic here with

going full degen yield farming. Just eyeballing the account it seems like at one point between 20-30% of the entire AUM of Sushi was coming from an account associated with

@FTX_Official

. Which kind of begs the question…

290

kain.eth

@kaiynne

Aug 29, 2020

Where does this risk ultimately sit on this trade? Several people in the

@synthetix_io

community have reviewed the code but we didn’t audit it and the complexity of the contracts was such that we felt there was reasonable SC risk here.

kain.eth

@kaiynne

Aug 29, 2020

We have seen several examples of LP rewards contracts that had the potential to be bricked accidentally or intentionally by a deployer. When you send your LP tokens to these contracts you lose control of your funds, the Uni LP wrapper does nothing to protect you!

kain.eth

@kaiynne

Aug 29, 2020

I personally put less than 1% of my deployable assets in these contracts for this reason. I doubt I could have convinced the sDAO signers to dump 50m in here but I didn’t even try because of, you know sanity, and I say this as a total lunatic.

SBF

@SBF_FTX

Replying to

@kaiynne

What % of your $ is in SNX? What are the odds SNX goes down at least enough so you lose 1% of your $? (Hint it's like 40% or something in the next day, crypto volatile yo.) I claim you're being inconsistent here.

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SBF

@SBF_FTX

Aug 29, 2020

1) Risk is weird! It's hard to think about well. But it's really important to.

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2:01 AM · Aug 29, 2020Twitter Web App

Replying to

and

I’m not sure that this analogy holds since I’m both escrowed as a core contributor and escrowed via staking rewards for at least another year. So even if I wanted to diversify to a “reasonable” level I couldn’t. Plus I’m also realistically liquidity trapped.

Replying to

and

Also for the record it’s currently >95%. So yes on a given day my net worth fluctuates by 10%+ and I wouldn’t have it any other way lol.

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