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@zhusu

TVL is $11b of which BTC is $1.5b

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and

He’s saying that a lot of yield whales denominate in BTC, not that they collect yield only on BTC. Truth is opportunities were much better for a long time to yield farm ETH stuff

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and

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..

@SBF_Alameda

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.

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Examples?

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So, e.g., note that WBTC wasn't added to sushiswap until this week, and also has the single lowest ROI: sushiswap.fi

7:36 AM · Oct 4, 2020Twitter Web App

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Thanks! I see wBTC only in yusd/wBTC and wBTC/weth pools. ROI for yusd/wBTC seems same (even slightly higher) as ROI for us/weth pool, and wBTC/weth pool is as much an Eth pool as a BTC pool. No? (I may miss something)

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If I did not miss anything, it means Eth roi is as bad as BTC roi