ya3kov
@_yakovsky
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founder @3janexyz. leverage is a God-given right
Joined January 2021
The financial system will eventually converge on a hyperfinancial singularity — one in which anything that can be financialized will be, driven by zero overhead coordination costs enabled by universal on-demand programmable cryptoeconomic trust.
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Great post - DeFi lending today looks a lot more like money markets / repo than banking. That's partially because margin lending has high PMF in the casino, and partly because incumbents recognize where crypto’s structural edge actually is. Crypto's killer use case always has
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As long as funds are transparent with the risks and assumptions, I think it's great that we are onboarding more diverse and financially risky collateral into DeFi. Current strategies are mostly separated by technical risk and opacity risk, while the underlying financial risk is
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My favorite hiring screening q so far @3janexyz is a simple one: "What do you think about prediction markets?" It is the ultimate midcurver trap because the category strikes the perfect balance between intellectual depth and a complete lack of understanding of markets.
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My favorite hiring screening q so far @3janexyz is a simple one: "What do you think about prediction markets?" It is the ultimate midcurver trap because the category strikes the perfect balance between intellectual depth and a complete lack of understanding of markets.
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Ethereum is as useless as it is omnipotent, you just have to find out which one is which. Programming a simple asset transfer has roughly the same overhead costs as programming a bespoke synthetic CDO-squared referencing junior tranches of mortgage-backed securities. *Zero*
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This is going to get me piled on a bit but a video referencing the moon landing and the fall of the Berlin Wall in a post about raising capital for a prediction market encapsulates everything I hate about the tech industry
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I finally got to the root reason why all these companies have the same launch videos: they all pay $30k for the same YC backed AI ad company @withabsurd to spin a wheel of fortune between > MJ free-throw line dunk > JFK "one small step for man" > U.S.-flag moon landing > steve
YC Demo Day startup Absurd makes AI-generated, Super Bowl-quality video ads. Founder @dopadealer says they charge up to $30k per video, average 300k views for every company they work with, and that they're getting demand for as many as 1,500 videos a month from single clients.
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Tokenization is a fairly insidious term adopted by tradfi because it presupposes that primary asset issuance should continue to happen offchain with IOU's to an SPV as opposed to a cryptonative securitization with programmable ownership rights. This misses the entire point IMO.
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I’m in crypto to transform the financial system, not democratize it.
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I am bearish on prediction markets. I am bullish on sports books masquerading as prediction markets though.
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This is what capitulation looks like.
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Giving money is easy, getting it back is the challenge. 3Jane hit a 100% payment rate for the Nov. 1 cycle across our first 52 yield farmers. The first real signal our unsecured model can scale from 50 -> 5,000 -> 50,000.
1/ This past month, 3Jane was heavily stress-tested by the crypto markets across 10/10 & tokenized hedge fund insolvencies. It also coincided with our first cycle of repayments. Sharing how our existing pool of credit lines performed across repayment rates, backing, and APYs.
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Robots could be amazing collateral for stablecoin looping on chain Loop: buy and tokenize robot from OEM in $, rent him/her/they out to end user, collect rent in $, put tokenized robot in lending AMM, borrow USDS, buy robot, rinse repeat Prob loop at 30-40% APY at 1-2x leverage
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It's one thing to use x402 to receive one-time use for a service, but entirely another to source over-time capital delegation to fund the working capital of a service with pre-agreed economic terms. It's like comparing an off-chain verifiable agent that can submits zk proofs
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[RFP] Path to a +$1B DeFi insurance protocol that solves for efficient premiums pricing, liquidity, and cp risk - attract retail staked ETH deposits (~0% hurdle) via a restaking protocol as an operator, heavily overcollateralized. call this LP symbiotic-synthetic-CDO-A - start
Someone asked about default swaps and other credit enhancements. Unfortunately, there’s no free lunch so it comes with its own cash drag or tail risk
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Unsecured credit remains a largely unsolved problem for a reason. We've spent ~1yr across protocol design, quantitative risk modelling, law, digital identity, and game theory to pull this product off. We're so close.
1/ Every major capitalist financial system is built on credit, and yet it is fundamentally absent from the cryptoeconomy. We’re shipping general-purpose uncollateralized lines of credit on Ethereum. Mainnet launch details below.
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one thing sorely lacking in crypto is economic innovation. defi has the potential to create a financial system competitive w tradfi without a lender of last resort. this imo is the only way to save the world from corruption of the money printer. when i look around, i feel
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The Argentinian Bitcoin Mafia is executing. Well done @diogenes
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