Aight aight, my bad. Let me explain this so everyone understands. Let’s start from the top. Why hold $S when your $S could earn yield? People want their $S to work, and right now, $stS is the simplest way to do that. It pays 4.13% just by holding it. No complex smart contracts, no additional exposure, just native $S yield. But what if 4.13% ain’t cutting it? You’ve got two typical paths: 1) Pair $stS with another token in an LP (and take on LP risk + impermanent loss). 2) Chase juiced yields from new, unproven protocols inflated by emissions. Not ideal. Especially for capital allocators managing $100M+, they want something efficient, scalable, and clean. Enter @aave. The most battle-tested protocol in DeFi. With $stS listed, it unlocks a way to optimise your $S yield with a trusted, low-risk foundation. Here’s the basic play, > Supply $stS as collateral on Aave > Borrow against it. Cool, but how does that increase your $stS yield? Looping. Looping = leveraging exposure to a specific asset. Let’s walk through a simple example most degens know, a classic long position. > supply $S on Aave > borrow $USDC > swap $USDC back to $S > supply that $S again > repeat You’re now leveraged long on $S, your exposure increases with each loop. If $S goes up, your gains are amplified. But with Liquid Staking Tokens (LSTs) like $stS, the looping strategy doesn't leverage price exposure; it leverages yield exposure. Here’s how, > supply $stS > borrow $S > swap $S to $stS > supply more $stS > repeat Now remember, you’re borrowing against an asset that’s already earning 4.13% yield. Unlike the $S/$USDC loop, this isn’t about catching a price swing. Because $stS tracks the price of $S + yield, you’re stacking exposure to yield while neutral on price. Let’s say you have $10,000 in $stS, that’s $413/year in yield. Loop it to 10x exposure, you’re now earning $4,130/year. So… is it free money? Not exactly. Your loop is only profitable if the borrow rate on $S is less than the yield on $stS. Right now, that means borrowing has to cost you less than 4.13%. This proposal? It optimizes the $stS Aave market to make that loop easier and more efficient. > tuning parameters to reduce friction > Incentivising with $wS rewards > recycling $stS collector revenue back into the loop TLDR: It aims to make that loop profitable for the next 6 months to offer the best return on $S yield generation with no exposure besides $stS, $S and @aave.
Most crypto participants (including myself) have no clue what any of this means. $S
8,69 mil
1
O conteúdo desta página é fornecido por terceiros. A menos que especificado de outra forma, a OKX não é a autora dos artigos mencionados e não reivindica direitos autorais sobre os materiais apresentados. O conteúdo tem um propósito meramente informativo e não representa as opiniões da OKX. Ele não deve ser interpretado como um endosso ou aconselhamento de investimento de qualquer tipo, nem como uma recomendação para compra ou venda de ativos digitais. Quando a IA generativa é utilizada para criar resumos ou outras informações, o conteúdo gerado pode apresentar imprecisões ou incoerências. Leia o artigo vinculado para mais detalhes e informações. A OKX não se responsabiliza pelo conteúdo hospedado em sites de terceiros. Possuir ativos digitais, como stablecoins e NFTs, envolve um risco elevado e pode apresentar flutuações significativas. Você deve ponderar com cuidado se negociar ou manter ativos digitais é adequado para sua condição financeira.