TVL is $11b of which BTC is $1.5b
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Yes but what he said is just not true. People who denominate in BTC would deposit BTC in aave and farm with whatever shitcoins or USD. But BTC is only 8.5% of aave. The "majority" he talks about Is just not a majority at all.
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Yeah , this btc denominated whales claims needs to be backed by some proof.
Hard to assess whether its true (for anyone except exchange operators)
Its an interesting assumption at best.
Oh wait.. runs an exchange right?
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What i am sure is they don't denominate more in BTC than in Eth. In my opinion they denominate in Eth and BTC and USD. It is what most people do in defi. They first take profits in Eth, then USD, then BTC (because they diversify/hedge hence you take profits on both 3)
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So very few yield farms accept BTC or wBTC or whatever, and those tend to get run down to lower yield pretty quickly.
So, e.g., note that WBTC wasn't added to sushiswap until this week, and also has the single lowest ROI: sushiswap.fi
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