Brazil is creating a central bank digital currency using a private version of the Ethereum blockchain
but the code has been modified so they can:
- create unlimited new coins
- freeze accounts
- take money out of accounts
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ParaSpace’s Instant Unstake will enable BOTH LSD protocols/other staking platforms AND individual staked users to be able to skip the queue and instantly access $ETH. At the same time, it will allow $ETH liquidity providers to generate yield on their existing holdings.
We are constantly looking to innovate and push the boundaries in this space. Today, we’re taking another step to generate greater permissionless capital efficiency for #NFTFi. To increase borrowing efficiency, we have moved to a lower base interest rate across $ETH, $USDC, $USDT, $DAI, and other tokens, enabling borrow at lower rates while making sure suppliers still maximize their yields How we’re thinking about liquidity and capital efficiency
The $ETH Shanghai upgrade is coming in early April, what you need to know and how can #NFTFi play a critical role
The Shanghai upgrade will enable phased validator withdrawals, allowing users who have been staking to access their staked $ETH and staking rewards.
There are 522K active validators on Ethereum, and once the upgrade comes, only ~1.6k-1.8k validators would be able to exit per day
A cumulative 17.6 M $ETH (~$27.3 B USD) is currently staked on the Ethereum Beacon Chain. 50% staked $ETH comes from Liquid Staking protocols (led by @LidoFinance at 29%) and CEXs (led by @coinbase at 12%), Of the CEXs, only @krakenfx (7%) announced that they’ll be unstaking.
We introduced cross-margin #NFTFi to ensure users can access liquidity and borrow against their on-chain assets- both fungible and non-fungible. Interest rates are charged to borrowers based on the Utilization Rate: the interest model helps incentivize what is needed to support liquidity. When there is capital available, borrowers pay less interest to borrow; when capital is scarce, high-interest rates encourage more supply and repayments on loans.