Lumberg
@lumbergdoteth
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DeFi Builder || delegate @arbitrum | council @pleasrDAO | council @DigitalArtMove
Web3
Joined February 2012
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Last Seen Profiles
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I'm one of the signers of
@iearnfinance
governance multisig. I'm using 0x7321ED86B0Eb914b789D6A4CcBDd3bB10f367153 lumberg.yearnmultisigsigner.eth.
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It’s clear to me that recent events surrounding the exploit have not been well understood.
I would like to take this time to set the story straight.
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Industry standard for whitehat bug bounty payout is 10%.
Aave should pay the 10% whitehat bounty to Yearn. $1.7B.
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After DeFi, NFT, mainstream media is going to "discover" DAOs soon.
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New ApeCoin Non-Staking Distribution Proposal
🧢 Cap added per NFT
🤖 Auto-compounding
🦺 Safe and Easy - No staking; just claim $APE from
Co-authored with
@machibigbrother
@apecoin
@BoredApeYC
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Throughout this entire ordeal, Aave collected ~$2m in flash loan fees, while Yearn devs were busy fixing their 11-figure vulnerability. Aave didn’t have the decency of recognizing the fact that Yearn devs were the whitehats that saved their ass.
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uniswap:
- 7 employees
- ~13m raised
- 1.83-billion Liquidity
- Tier 1 VCs
sushiswap:
- Community/DAO-funded devs
- 10% devs share
- 1.42-billion (of Uniswap's current) Liquidity staked
- 16.7% of trading fees distributed to SUSHI token holders
coinbase:
- 1200+ employees
- ~$550m raised
uniswap:
- 7 employees
- ~$13m raised
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MakerDAO was an OG DeFi protocol aiming to build an autonomous, decentralized stablecoin for the internet with low volatility against fiat currency, backed by ETH.
DAI is now migrating to USDS, a censorable stablecoin that goes against its original vision.
RIP DAI, 2017-2024
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Much love and thanks to the
@ApeCoin
and the
@BoredApeYC
communities for the great feedback so far on the New ApeCoin Non-Staking Distribution Proposal.
@machibigbrother
and I have consolidated the feedback and proposed solutions in this thread:
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Gm to all the Gm believers. ❤️
Who’s showing up on this last day of 2022?! 🫡
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This account is following any mfer with a NFT PFP
If you’re showing up to Web3, let’s connect 🔌
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Hello I'm Lumberg, an OG ape. I'm proud and excited to finally share our ApeChain proposal. We look forward to having discussions with the
@apecoin
community about ApeChain next steps.
Proposal: ApeChain A-Team - Research, Deploy, Manage ApeChain
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Shoutout to the mfers under 5k followers
Where’s my smaller accounts at? Let’s network 🔌
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No big deal.
AIP 304 is only the biggest voting turnout ever for any AIP by 20% margin.
🦍 🤝 💪
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The Iron Bank is a protocol to protocol (DAO to DAO) lending system, built by both
@iearnfinance
and
@CreamdotFinance
.
We're putting the finishing touches on something new to expand the Iron Bank toward this direction. Stay tuned.
Everyone is talking about DAO treasury management, but is anyone working on DAO bond issuances? Seems wrong that DAOs must sell equity and can't tap into credit markets, when they have strong cashflows and don't have the same anon problem as with decentralized consumer lending
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Meanwhile, the Aave management team was busy shitting on Yearn/C.R.E.A.M. while the yearn devs were busy patching this vulnerability for Aave.
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Been wanting a noise fur ape for a long time... finally I've found a keeper. ❤️🦍
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Introducing the DeFi Voltron concept, a super robot of automation efficiency, coordinated by
@AndreCronjeTech
and
@iearnfinance
core contributors.
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Got $USDC $USDT or $AVAX and looking for yield? C.R.E.A.M. markets on
@avalancheavax
currently offers supply APYs between 13-18% currently for these tokens.
Borrow APYs on WETH and WBTC currently under 2%.
View current rates here:
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Taipei blockchain week has been an ok networking event
I have realized that mfers and adding more value international
Idgaf what country you’re from if you believe in web3 then web3 believes in you ❤️
Let’s network 🤝
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This account is networking with mfers showing up during the bear
If you’re here on Tuesday, let’s connect 🔌
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Gm if you gm 🍒
For those hesitant to say it back, try it below and pop that gm 🍒
It’ll feel really good. I promise.
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Fraxtal is some big 🧠 shit.
Thanks
@samkazemian
and
@DeFiDave22
for breaking it down.
Congrats on the launch!
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Yuga Labs should delegate their Apecoins to BAYC holders.
Builds BAYC utility. Adds value to Apes.
There’s also no need to pass an AIP for this. It’s simply Yuga Labs decentralizing control via delegation.
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Beware of silly meme coins and emotional pumps.
It’s musical chairs. Don’t be fucked when the music stops.
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Followed too many of you mfers.
Congrats we broke Twitter again.
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Also yearn dev
@flashfish0x
immediately reached out to the Aave team to alert and patch this same vulnerability. This vulnerability existed until Yearn’s patch was deployed by Aave on November 2.
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These Swaps are now possible at
In and out of
@iearnfinance
Vault goodies:
$USDC -> $yyCRV ($yUSD)
$ETH -> $yETH
In and out of Creamed $CREAM / $YFI / $yETH / $yyCRV
$crCREAM -> $crYFI
$crYETH -> $crYYCRV
Max yield/leverage. Save on gas.
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The art from the newly revealed
@apefinfts
collection is exquisite. A little something for everyone.
Someone's rock go missing? I've got it on my stick
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Starting the DeFi Chapter of the Bored Ape Yacht Club.
Reply below to join.
Apes have priority.
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Pursue your web3 passion as a career.
Work will feel like a super fun hobby.
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Yearn devs were the first to create the war room, diagnose the exploit, identify recoverable funds in their protocol, and send $9.4m back to the C.R.E.A.M. multisig.
Yearn has successfully salvaged $9.42 million Cream hacker has donated to yUSD vault as a part of the attack. The recovered funds will be sent to Cream.
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The attack was a combination of economic and oracle attack. This exploit has been around for about a year yet nobody acted on it until October 27. For more detail on how the exploit happened, here is a good explanations from
@flashfish0x
:
Here's the theory behind the Cream attack, a thread:
You need a token that can be borrowed, used as collateral and have its value increased in the same transaction.
Uni Lps, xSushi, yVault tokens. Any will do
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TvL at
@CreamdotFinance
is often misunderstood. Total TvL as of this time is $1.7-Billion.
Here's a snapshot in current USD value (borrowed/supplied):
Iron Bank: 561m/850m
Ethereum: 58m/312m
BSC: 60m/174m
Fantom: 29m/10m
Staking Services (NEW!)
Eth2: 91m
BSC: 214m
FTM: 2m
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@hasufl
@compoundfinance
@AaveAave
@CreamdotFinance
Users on cream v1 () will soon be able to supply and use to
$xSUSHI /
#bBADGER
as collateral to borrow against.
These deposit tokens that represent growing values of the underlying protocols/businesses in
@SushiSwap
@BadgerDAO
can be further leveraged.
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FTX taught us the importance of decentralization and self-custody of assets.
Why are you not moving your assets off CEXs and using DeFi?
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Join the ApeChain A-Team discussion tomorrow at 9am Pacific / 1am Taipei / 6pm Central Europe
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Imagine if you went to an airline to book seats, and they tell you that you need to buyout the whole next flight.
Now imagine a new system that changes this, allowing you to book your seats later, cheaper, and not have to buyout the whole flight.
This is mevAuction. For MEV.
Today, we’re introducing mevAuction, a new system to auction blockspace that allows, for the first time, multiple-winners in the same block. This means proposers can continue to enjoy benefits of mev-boost while earning additional rewards with mevAuction.
A thread: 🧵
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Live onboarding of
@davido
and the Nigerian community to Solana on this space is powerful. Good work
@blknoiz06
!
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Seb let’s talk.
Iron Bank. No invite codes.
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The
#IronBank
of
@CreamdotFinance
has added a $GUSD market with 90% collateral factor. We welcome
@Tyler
@cameron
and the
@Gemini
community to join us.
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The award for Finest Crypto Diplomat in the world award goes to
@0xMaki
- this man is all over Twitter and
@joinClubhouse
, repping the industry well. 🥇
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LTV / collateral cap comparison is a pretty handy tool here, introduced by our colleagues at
@iearnfinance
: ❤️
Bonus Tip: 1) Supply $USDT to Compound, 2) Supply $cUSDT to Iron Bank, 3) Borrow up to 90% LTV while earning $COMP and Compound supply rate.
Visit the new home of the Iron Bank at
Compare collateral value / LTV for your assets here:
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Twitter search for “Taiwan” at all time high.
Pelosi, the CCP, and CNN have nothing on Alex and Bark.
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Congrats to our friends at
@AlphaFinanceLab
for launching useful tooling that we can all use in DeFi. Aggregating oracles can help us all operate safer and more efficiently.
We're excited to announce the launch of Alpha Oracle Aggregator, with data from two of the largest data oracles providers,
@BandProtocol
and
@chainlink
, to ensure security, scalability, and flexibility. 🛡️
This launch will prepare
#Alpha
for the upcoming growth stage! 🚀
👇
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Gm before it's noon here in East Asia.
Is it ever a bad time to gm?
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Swap launches tomorrow, about 24-hours from now.
Basic pairs: $CREAM with USDC/WETH
“Creamed” pairs: Trade between interest-bearing $CREAM / $YFI, $ETH / stablecoins.
@iearnfinance
pairs: Go straight from the yearn LP tokens to the underlying tokens.
Useful money legos!
Swap launch pairs:
$CREAM / $USDC
$CREAM / $WETH
$crCREAM / $crYFI
$crYETH / $crYYCRV
$yETH / $WETH
$yyCRV / $USDC
Deposits/staking for these pools open ~11pm UTC+8, one hour prior to the start of $CREAM rewards. Read more about Swap below:
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Innovation never stops at
@binance
/
@BinanceDEX
/
@raven_protocol
- congrats and good luck on the launch! 🚀
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Proposed Schedule and Estimated Costs:
We estimate the buildout to take 3 weeks and $30,000 USD.
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BEP3 is a major upgrade for Binance Chain and
@Binance_DEX
that will speed adoption. With BEP3, migration to Binance Chain will be faster/easier than ever. Tokens on any chain can soon trade with the speed and simplicity on Binance DEX without losing its native functionalities.
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This
@mithcash
farming action is driving up lending rates at
@CreamdotFinance
. Get in on this action without farming by just supplying your tokens at .
CREAM - 262.03%
COMP- 207.47%
LINK - 125.18%
CRV - 370.84%
AAVE - 249.96%
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The process of getting to this burn revealed a few key insights:
- This team is amazing - working day and night to ship quickly. Then turned down a chance at accelerated vesting for a burn because they believe, and are definitely dedicated to the long-term success of the project.
C.R.E.A.M. to burn 67.5%, 6M+ $CREAM Tokens Tomorrow.
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SO awesome to see Yearn Strategist
@mattdwest
stepping up to represent our industry in Congress. In addition to his strong credentials, he is also a solid person all around.
Please join me in supporting Matt West in his campaign in Oregon's 6th congressional district.
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This sort of gas crunch IMO is caused by automation that use "fast gas" and so when volatility happens, price updates happens.
Then other bots kick off, racing for fast gas, and then they trip over each other,
Time to turn this off and take a break.
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@mithcash
took in $1,000,000,000 USD in less than 9 hours. 🤯
How much would it cost “IRL” for accepting that many deposits / that much AUM$ in time and money?
If nothing else this is a great stress test of the Ethereum network, proving efficiency in secure asset transfers.
Hi community, thank you for your support.
@mithcash
has just achieved $1b TVL 8.5 hours after launch. This is
#FairLaunch
. No pre-sale, no pre-mine, no dev pool, no VCs. Let's go! $MIC $MIS $MIB
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People asking where to learn DeFi. My favorite resources to share:
1) from
@DefiantNews
(love the vids from
@IamSuperMassive
!) - pro content for everyone.
2) from
@Ceazor7
- content on the latest and most edgy/degen.
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A solid, quick overview on the latest in
@CreamdotFinance
, covering lending on Ethereum, BSC, Fantom, and the Iron Bank.
Bonus points for
@Ceazor7
being the first to talk about the 90% collateral factor for supplying cUSDT on the Iron Bank... good find my man!
CREAM Finance 🍨
👀A quick look
ETH - BSC - FTM
👉📺👉
VIDEO here ☝️
A bit about REKT
@CreamdotFinance
@ethereum
@cz_binance
@FantomFDN
@RektHQ
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I hated GMs until I saw the light. 🌞 ☀️
GMs are NOT unproductive. They're beacons of hope. They're rays of sunshine ❤️
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So proud of
@pplpleasr1
and our fellow Peeps at
@PleasrDAO
for supporting so many deserving nonprofits. ✨🐣 ✨🐣✨🐣
It's especially wonderful to read about each of the grant recipients, knowing that we're contributing positively to the community around us.
🚨Today we announce the first batch of Grantees from the
@StandWithAsians
Community Fund!🚨
In total, more than *$625,000* has been given away, going to truly spectacular causes…thanks to
@Pplpleasr
’s
#NFT
auction from the
@Uniswap
V3 trailer.
THREAD:
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