OOFDA!
The problem of LSDs ('liquid staking derivatives') is that they depend on their validators. A validator gets slashed, the LSD exchange rate goes down.
I talk about this problem here: http://logicalgraphs.blogspot.com/2023/03/liquid-staking-token-factor.html
@FantomFDN @staderlabs $sFTMX exchange rate just went down. 😢
2023-04-14 @GranaryFinance $sFTMX loop
incept date 2023-02-01
sFTMX leverage: 40273.22
sFTMX factor: 1.0849
FTM borrow: -30,389.08
net FTM: 13,303.34
net FTM δ: 355.349
days in market: 72
APR: 13.54%
APY: 5.35%
With $OATH at $0.19 , we average $1.50 collected/day.
Daily $FTM @GranaryFinance gain report, 2023-04-14
Did we gain?
Answer for today, no: net 37.3600 $FTM lost
OOFDA, indeed!
Total $FTM gained since incept date: 355.349
4.94 $FTM gained/day (average).
Okay, these slashing events have happened here, have happened to $STEAK on Terra 2.0, ... how do I not get hit like I just did today.
I was actually thinking about this very thing, and other LSD-issues, this morning before I did this report.
Stay tuned!
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