Yield arbitrages (and so much of DeFi mental gymnastics) are above my pay grade, but what Mark says that arbitrages are supposed to be temporary is surely true? Look how bad the free lunch of Grayscale premiums turned out for so many funds.
"Around $20B has been a ceiling for a few major tokens". Do you mean absolutely or that once they reach 20B, the multiples are just not there to make it worth a short term trade?
Very informative article as always, thanks!
Should be positioning accORDIngly..
Yield arbitrages (and so much of DeFi mental gymnastics) are above my pay grade, but what Mark says that arbitrages are supposed to be temporary is surely true? Look how bad the free lunch of Grayscale premiums turned out for so many funds.
"Around $20B has been a ceiling for a few major tokens". Do you mean absolutely or that once they reach 20B, the multiples are just not there to make it worth a short term trade?
I mean that the r/r for longing decreases a lot once you cross this threshold !
❤️🤌🏼