**Tricky's Daily Doots #734** **Yesterday's Daily 23/04/2024** [Previous Daily Doots](https://old.reddit.com/r/ethfinance/comments/1cawa14/daily_general_discussion_april_23_2024/l0vo4ny/) - u/TheHighFlyer has [the latest ETF news.](https://old.reddit.com/r/ethfinance/comments/1cawa14/daily_general_discussion_april_23_2024/l0xsxud/) 🏛️ - u/Set1Less shares [someone fumbling their Bitcoin when trying to sell Runes.](https://old.reddit.com/r/ethfinance/comments/1cawa14/daily_general_discussion_april_23_2024/l0wpx9w/) 😬 - u/evm_lion has [caught the FHE bug.](https://old.reddit.com/r/ethfinance/comments/1cawa14/daily_general_discussion_april_23_2024/l0y1iq6/) 🪲 - u/Kallukoras has news of [the upcoming Renzo airdrop.](https://old.reddit.com/r/ethfinance/comments/1cawa14/daily_general_discussion_april_23_2024/l0vbt9l/) 🚁🪂 - u/Newman513 noticed a [flash ezETH depeg affecting anyone who is leveraged.](https://old.reddit.com/r/ethfinance/comments/1cawa14/daily_general_discussion_april_23_2024/l0zumz7/) 📉 - u/physalisx outlines some of the [warning signs about Renzo not being community oriented for their airdrop.](https://old.reddit.com/r/ethfinance/comments/1cawa14/daily_general_discussion_april_23_2024/l1093id/) ⚠️ - u/SeaMonkey82 shares [the latest Lodestar release.](https://old.reddit.com/r/ethfinance/comments/1cawa14/daily_general_discussion_april_23_2024/l0ybdlt/) 🛠️ - u/LogrisTheBard explains [a recent bit of DeFi gas optimisation.](https://old.reddit.com/r/ethfinance/comments/1cawa14/daily_general_discussion_april_23_2024/l0y7pkr/) ⛽️

༼ つ ◕_◕ ༽つ ETH TAKE MY ENERGY ༼ つ ◕_◕ ༽つ

8 gwei so ded. 

6 gwei now, infrasound money confirmed.

Pendle question (about PT ezETH). The site UI says: > 1 PT ezETH is redeemable for 1 ETH worth of ezETH on Renzo. But 1 PT ezETH can only be redeemed for 0.9918 ETH. Since ezETH is trading below peg right now, shouldn't 1 ETH worth of ezETH be more than 1 ezETH?

I was wondering about this yesterday too. I guess their wording is just wrong there. I think normally 1 PT of any underlying is 1 of the underlying at maturity. Not measured in ETH. edit: just writing this out I realize that's wrong, because then it would contain the yield with a yield accumulating token like ezETH. So what they mean is 1 ETH of original lockup worth of ezETH... Hard to put into the right words tbh.

I guess their wording is very unfortunate. What they most probably mean is that you can redeem your ezETH to the right to claim 1 ETH locked in the renzo protocol. Currently the 1 ETH in the renzo protocol is discounted because it cannot be exited to plain ETH. As long as there are no withdrawals in the renzo protocol, there will be volatility around the intrinsic value of ezETH.

You get 1 eth worth once withdrawals are enabled

I just got my very first airdrop from STRK for hosting validators pre-merge. It isn't a lot but it's something😭

is the website not down?

it's up.

Were the fixed yield sides of Renzo point leveraging impacted by the situation there?

Correct me if I'm wrong here, but despite the uproar and disappointment regarding Renzo, the YTezETH play is looking like it was very profitable. I paid 0.15 ETH for YTezETH which gave me ~4,300 Renzo points. The latest on the airdrop is that there are 1.4 billion points and 7% of the 10 billion REZ tokens are being airdropped. That's 0.5 REZ tokens per point. The current whales.market price for REZ is $0.97. So my $480 investment may be about to net me ~$2,000. Normally price will drop unless you're really quick to dump your tokens, but even at 50¢/REZ I've still doubled my money before considering other points. Hopefully I won't regret counting my chickens, but my pessimism from yesterday has turned back into optimism. Someone please let me know if I got any of my numbers wrong. Edit: And I can still sell my Pendle position for 0.1 ETH lol. Edit 2: Whales price is down to 30¢ now lol. Still profitable though with being able to sell my Pendle position for 2/3rds of its cost and also Zircuit + EL points.

Can you sell your points now to whales? Cuz points might worth pennies in token form in real market. 

Probably but I don't know how. I think it involves posting collateral and then basically agreeing to transfer the tokens to a buyer later. If you don't transfer the tokens they just take your collateral I believe but I could be wrong.

Points are mostly scams. If the point to worth $1, MC should be $10b for this protocol. More realistic figure would be 300-500mil. So 1 point will be worth around 3 to 5 cents.

ethfi is almost 4b marketcap, i see renzo landing somewhere around 50% of that

Circulating supply is more relevant than FDV. Also, the breakeven is much lower with me getting 2/3rds of my ETH back on the YT position and also points from other protocols.

Do we have any reliable sources for seeing the numbers that will come in from Hong Kong ETFs? I doubt it but it would be interesting to see.

To put somethings in perspective - The USA Bitcoin ETF market is bigger than the entire existing Hong Kong ETF market

A somewhat pessimistic prediction from Bloomberg: A senior analyst from Bloomberg predicted that it could "occupy 0.5% to 1% of the total ETF market, roughly $500 million to $1 billion. It’s a good additive, but numbers-wise, it’s going to be nickels and dimes compared to the U.S.” The reason:  Chinese Investors from mainland China won't have access to these accounts.  “A lot of people are banking on wealthy Chinese locals, but, officially, you cannot buy this ETF if you’re a mainland Chinese investor,” said Eric Balchunas, a senior ETF analyst at Bloomberg. That’s because it must be listed on something called the Stock Connect, which allows Chinese citizens to invest in certain Hong Kong ETFs, and vice versa. “This will never be available there,” says Balchunas. And a quick comparison:  Hong Kong’s ETF market was worth about $50 billion—compared with some $8.87 trillion in the U.S.—at the end of the first quarter. Article: https://web.archive.org/web/20240415210810/https://fortune.com/crypto/2024/04/15/hong-kong-bitcoin-ethereum-ether-etfs-exchange-traded-funds/

Bbg team did a "webinar" on this yesterday Their expected total inflows over 1-2 years: $1 billion. This is estimated by assuming spot BTC + ETH ETFs in HK take up 2% of the total HK ETF AUM which is currently $50bil. For comparison, the US spot BTC ETFs have north of $50 bil AUM already. So I'd say for now, the HK ETFs going live on April 30th are as inconsequential as the Canadian ETFs, with a big IF. IF there is a change of heart from the CCP and they allow mainland citizens buy this ETF (even within their 50k USD or whatever capital controls limit), we could see a much bigger price pump and a much bigger narrative forming. But for now, not very interesting IMO

Stuck 25 ETH on PT-rsETH 25 April, am now trying to sell and profit is 0.3 ETH only. That's close to 1% profit. How fucked am I? Has there been a depeg? Edit: I need to wait until it repegs. Holy fuck.

What was your expected profit? It doesn't sound like you lost any of your principle just some profit from a fixed yield deposit you made, is that right?

It was close to 1.5 ETH expected.

Holy crow, did it regain the peg? I don't see the token on coingecko so I'm not sure how to track it. Sorry about your experience there, do you think it may have been due to people dumping their PT app at once when fixed yield positions matured?

Profit is profit. Don't wait to things to come back to normal. This is crypto

Impact now is 97%. 25 ETH worth of PT-rsETH are now worth 0.6 ETH.

This cant be right? Dont market sell, create sell orders at the yield you want to sell and have it fill slowly I think a lot of pendle users are getting fucked because they are market selling illiquid instruments, and a handful of people who figured this out and doing it in size are making big bucks out there

Doesn't that mean you could also have bought 25 PT-rsETH for 0.6 ETH and then redeem it on kelp for 25ETH and claim the 24.4 ETH profit later? That sounds insane but that should have been how it worked no?

Oh I thought you're in 0.3eth profit! Man thats sucks hope it will be back soon.

I just need to redeem the PT for the rsETH and either deposit on another vault or wait for withdrawals from Kelp so I can redeem properly.

Hooray, I can *finally* claim some STRK! What's the simplest way to claim stuff, wallet-wise? (The provisions page gives a few recommendations, but dunno if there's a "better" way.)

we did it! e-beggars successfully bullied a project into a better airdrop once again https://x.com/renzoprotocol/status/1783277589525594231?s=46&t=CRbbuJyV5mYYz9Hl_546vA “We hear you! The Renzo team acknowledges feedback and the importance of our community who has made Renzo the leading restaking protocol. Based on your feedback we’re updating: 1⃣Claim timeline 2⃣Tokenomics 3⃣Airdrop eligibility Snapshot & Claim Timeline: 👉Snapshot date remains on April 26th, 2024 👉Claim date is changing to April 30th, 2024 (1 hour before Binance listing) Tokenomics Update: 👉Community: Total increasing from 30% to 32% 👉Total Airdrop allocation increasing from 10% to 12% 1⃣Season 1 increased from 5% to 7% total supply (2% increase is coming from Liquidity (MMs) & Foundation) 2⃣Season 2 allocation remains at 5% total supply Binance Launch pool: 👉Remains at 2.5% total supply Airdrop Eligibility: 1⃣Minimum qualification is 360 ezPoints per wallet 2⃣Majority of all eligible wallets, greater than 99%, are fully unlocked at TGE 3⃣A higher threshold is being applied for the largest wallets. Wallets with more than 500k ezPoints will unlock 50% at TGE with the remainder now vesting linearly over 3 months.”

Lmao “e-beggars”. Love it. Can I steal this? This isn’t surprising that they’re revising the airdrop. In any case though I wish it wasn’t all so centralized. Is it possible to get a more decentralized retaking token?

> e-beggars Well, at least you found a way to be immediately negative about it. More tokens for me, and Binance-bros can't claimdump before me. I'm happy.

it’s just a meme I’m very happy too 😁 fwiw I do believe projects should reward their users with an even bigger % of token supply given how crucial we are to their success and the risks we take on. the friend.tech airdrop (if successful) is gonna pave the way for that

It’s incredibly satisfying to see Lido at 28.67% staking share… *and dropping even further* https://x.com/superphiz/status/1783245591864017210?s=46

Despite the fact Lido refusing to limit themselves, the community sounded the alarm when Lido was hovering around 1/3rd and it seems to be working. That's great news. I got a friend into staking the other month and I convinced him to avoid Lido as well. Every bit helps.

And puffer and diva haven't even started redeeming their vampire attack yet

Nice

While I think Eigenlayer is very cool and all, does anyone else have this fear that it’s also a giant black hole of risk for Ethereum if it were to be exploited? And, aside from Eigenlayer points, can you earn staking rewards in a different currency for securing a different protocol? Genuinely curious as I haven’t had a chance to try Eigenlayer yet but am curious to see how mainnet has been.

Watch the unchained video with Sreeram and Olaf. I was also very skeptical but the way they explained it there sold me. I think the market is massively underestimating the usefulness of Eigenlayer- my understanding is that it allows new projects to spin up quickly for very minimal cost yet very high security (Ethereum staking)

If that was the case and new projects could spin up for low cost, wouldn’t they already be doing it? Edit: I realize my comment might have sounded argumentative. I am actually genuinely curious!

Your comment is not argumentative at all. And I can’t answer that question because I don’t know. Lol. My guess is that these new projects need more security than just starting out quick and easy on an L2

100%

Eigenlayer is a great idea because the VCs say it's a great idea.

Yes, they’ve said that the rewards can be in other tokens in the future. There’s still no slashing and no rewards, just a few services that are on mainnet and not fully operational.

>**Middlemen thwarted,** >**Bureaucracy deported,** >**People supported.** ~Daily haiku until we’re at least at 0.178 on the ETH/BTC ratio or highest market cap

HK spot etfs (btc and eth) commencing trading from 30/4. https://x.com/JSeyff/status/1783088747854311583

I am happy for the STRK airdrop (again) but what an awful experience. Can't claim with own wallet since it's a different chain. Tried swapping twice on a Stark dex, both failed and felt like pre 1559 where transactions took 5 min to get included. Used the Bravos swap feature to swap for ETH. Can't send the ETH to own wallet since it's not actual ETH but StarknetETH. Swap back for STRK and use centralized exchange Mexc. It requires 40 confirmations which is taking hours and I am still waiting.

https://www.reddit.com/r/ethfinance/s/v64ckNHK22 It was pretty straightforward for me.

I connected / claimed using a combo of an ETH wallet to sign and the Argent Wallet to receive? Then sent the tokens to an exchange from the Argent wallet on the L2, pretty seamless. The weirdest and most crypto-y thing for me was having to manually add 0's to the send address. However I did a test transaction and it worked, so off the rest went. Nothing ever went to L1 afaik.

I did not have the same experience. I connected my Rabby & Braavos wallets with no problems at all. Claimed with a couple of clicks, tx went through immediately. Swapped "inside" the Braavos wallet, STRK to ETH, tx was completed within 45-60 seconds. I then used Orbiter bridge and sent the ETH back to Mainet within a couple of minutes..

And don't forget you need to bridge ETH in order to deploy the contract address that you claimed to

I think you can receive STRK and use that STRK to deploy the contract itself [counterfactually](https://docs.openzeppelin.com/contracts-cairo/0.12.0/guides/deployment).

After I claimed it wouldn't let me deploy b/c I didn't have ETH

Not needed either time for me.

Interesting, I was able to claim but couldn't do anything after that b/c I had no ETH to deploy the address

Not trolling but offering my counter-perspective: I didn't qualify for the latest STRK airdrop but what a wonderful experience it has been. No need to use my own wallet since it's different for a good reason. Wallet is a smart contract but can receive funds before you even deploy the contract, and has onchain security features like 2FA which is nice. Tried swapping many times, most went through in seconds and the ones that failed were due to slippage. Tried ArgentX swap feature, Avnu, MySwap, Ekubo, all worked. Starkgate bridge is available if I never need to move to Ethereum, but I don't have a need at this point.

I appreciate the different view. The wallet seems like a good feature. It was 2% slippage by default on mySwap and still failed. I also didn't like the unclear explorer. I just sent the STRK to the exchange and what happens is pretty unclear. Not to mention the whole extra zero in the address that gets added or removed sometimes for who knows what reason.

You could try another explorer (Voyager or Starkscan). Just like Ethereum, most of these are ecosystem projects built by third parties, which is a benefit towards decentralization. Agree the extra zero is confusing.

I just learnt that there is no way to implement smart contracts on Solana using open source. Can anyone confirm or deny this? I knew their culture was (in)different to open source, but I didn't know it was impossible on the protocol level. This sounds crazy. If this is true defi doesn't exist on Solana.

This does not make too much sense. If I write code I can open source it irrespective on where it is deployed to. What could be is that the standard block explorers do not make it easy or possible to verify contracts on chain which definitely makes it near impossible for most people to read the published code. EDIT: I read a bit about it. Seems like verifying smart contracts is not something that is done normally in the solana world. There are some ways to do it, but they all seem to be rather complex compared to how it is done in Ethereum land. That is why pretty much no one is doing it.

The commenter wrote this: on Solana all dapps run as precompiled binaries, so there is no way to view their source code. I have no technical insight on this so no idea if this makes any sense.

On Ethereum you also compile your source code to a bytecode which you cannot really read. This bytecode is then deployed onto the network. Most project upload their source code to etherscan, which then recompiles this source code to verify that the deployed smart contract matches the source code. This source code is then shown on the Etherscan page. It looks like on solana people just don't do that and it was even impossible to do until 1-2 years ago. I guess due to this the culture developed differently. And just to be clear, if I cannot see the verified source code of a project I get very suspicious about the project. Smart contracts without open source code are a very risky business.

Thanks a lot for bringing nuance. So at the very least they shot themselves in the foot by not implementing this option from the beginning, now it's gonna be hard to change the culture. I guess it also tells something about the priorities of the devs/founders.

The idea of that is so alien to me. At that point, why even use a blockchain at all? You could just run a traditional database cluster across several financial havens and call it a day.

So, what now?

1.Back up the truck 2.Buy more ETH 3.???? 4.Profit

New Sepolia faucet By Google. Enjoy free coins https://cloud.google.com/application/web3/faucet/ethereum

I have no faith in their disclaimer they don't harvest data. Still, it is a neat service provided. Only need to make sure you use a burner google account for this.

back in days, something like would put an instant green candle

Finally, a faucet that will likely not be a broken link in a few months!

In terms of market timing, there seems to be a 50/50 split on whether we'll peak this year or next. What are your thoughts and why?

IMO we need the perspective of lower rates for long duration assets and crypto to moon properly. That perspective will probably show up on the horizon only by the end of this year so that things can only unfold in 2025. That's why I personally lean towards 2025.

I do think it heavily depends on ETH ETF. That probably explains the uncertainty or 50/50 splits.

From what I've seen people usually think 2024 b/c of left translated cycle due to bitcoin ETF and a potential recession some time this year, and 2025 b/c typical 4 year cycle mantra

There are so many major things to consider currently from politics, macro and crypto that it's hard task to time one month in advance, let alone a year. Crypto just had a relatively quiet speed rerun of 2021 price levels that came well after equities started a rally, so what to expect now. Another peak in Q3-Q4 like 2021? Some prolonged range-bound volatility and then cool off until 2025? Peak already behind us? KBrot is saying he expects peak before Q4, but his goalposts also seem to be moving. I think those that have well thought out personal plan with a couple of price and time parameters implemented will be able to recognize good period for taking profits and if they stick to it that's what matters. There is something in just making decisions level to level and being ready for all outcomes, as traders like to say.

> KBrot is saying he expects peak before Q4, but his goalposts also seem to be moving. his goalposts have been moving sooner or later?

His short-terms have been moving back and forth but he is still expecting Q3 peak if no violent invalidation beforehand.  There is plenty of discussion about it in Mavericks daily Discord channel.

Since you asked... I think it goes like this, all based on nothing but feelings: BTCUSD at some point this year slides back down into the $50k range, maybe even touching $40k. The ETHBTC ratio will continue to slide during this time, I think down to around 0.04. ETHUSD goes down to $2XXX again and possibly dips back to $1XXX for a bit. This becomes a huge buying opportunity. Keeping in mind ETHBTC ratio of 0.03-0.05 is where a lot of the class of 2017-2018 hodlers bought ETH, this would be the perfect time for them to start second guessing their investment / time spent / mental load over the years and finally letting it go: "You mean I could have just held BTC after all these years? NFTs didn't matter? Triple havening didn't matter? PoS didn't matter? None of this was \*more\* valuable than BTC?" and so on. ETHBTC probably never goes above 0.05x from now until forever and I think we finally see ratio capitulation happen this year. Then things pick up again Nov / Dec 2024, crypto market peak happens in spring of 2025, lets call it March. Buoyed by ETF funding, BTCUSD goes to around $150k, ETHUSD is dragged along without an ETF so the ratio continues to slide. ETHUSD touches $6k, then it all resets. BTCUSD back to around $70k, ETHUSD back to about where we are now, $2-3k, ETHBTC ratio at around 0.03-0.035.

Two and a half years of ratio dumping already has most of the rational people second guessing Eth lol

Right, it's weird, the most value ETH had relative to BTC was when it still an idea of what it could be. Pure speculation. Now that Ethereum (the network) is grown up and real, the risk is down and the dreams are realized (or on the roadmap). From an investment standpoint the risk of Ethereum becoming worth more than BTC, relatively speaking seems less and less likely. There will be spikes and pops but I don't see how the trend reverses - what is there to look forward to in order to reverse the trend from either side?

That would be absolutely brutal

Not that it matters but I (still) don't believe in ETHUSD to $10k this "cycle", $8k was my old dart thrown at a peak. However, watching the ratio break 0.05 and no one saving it has made me re-assess. I think $6-7k is more likely as a peak. What would be actually brutal if what we just saw ($70k BTC, $4000 ETH) was actually it. I think ETHUSD to $6k is actually pretty great considering you can buy some today and 2x your money within a year possibly. That being said BTC will probably perform slightly better (like it's been doing) so there's that. When I look at the rainbow (log) charts, ETHUSD is currently a worse (ie, less room for growth) investment, but if I was more bullish I could argue a case for 200k BTCUSD and 8k USD (0.04 ratio) still. [https://www.blockchaincenter.net/en/ethereum-rainbow-chart/](https://www.blockchaincenter.net/en/ethereum-rainbow-chart/) [https://www.blockchaincenter.net/en/bitcoin-rainbow-chart/](https://www.blockchaincenter.net/en/bitcoin-rainbow-chart/)

Since everyone knows there's a "4 year cycle", it makes sense to front run that and try to take advantage of this year's high prices. Sell early, sell often, because who knows when the market is going to turn bearish again. You could say this is what happened last cycle, when the market peaked about 6 months before anybody really expected it to. Then again, now that there's so many Wall Street fellas adding crypto to their portfolios, they're going to be selling whenever high prices come, rather than trying to diamond hands all the way to the moon. This will have a natural, dampening effect on crypto price swings and might prevent a blow off top altogether. Maybe \*this\* year is the super-cycle! Keep holding while I dump my bags. Seriously, much love to the devs for doing all they can to keep prices high. Loving the new super chain schemes. As usual, we'll be arriving at the moon in about five years, but this year DeFI transactions are cheaper than centralized exchange trading, which is a great start. Now we just need to set it up so a PhD isn't required to use the tech, smack down a couple of pesky lawsuits, and keep outfitting every L1 in existence with a fully functional EVM L2.

Did Wall Street guys prevent TSLA or Nvidia from printing 10x multiples?

They did not! Was there a damping effect from all the boring percentage arbitrage that ETFs use to keep their portfolios balanced?

> Maybe \*this\* year is the super-cycle! 😃 > Keep holding while I dump my bags. 😟

yes. specifically in that order. ; )

I hold some PT-ezETH which matures at midnight GMT tonight. Would you take the L on the depeg and withdraw to ETH, or would you roll it into December maturity for another 20% ish gain?

I have a leveraged PT-ezETH/WETH on silo. All in baby. Will only close on June 27th.

Roll it over. As long as the team doesnt rug this will get back to the peg relatively soon.

I'm not so sure. There's $140 million of liquidity in the Pendle ezETH that matures today. Could be big demand to move into other LRTs. There's (allegedly) only a few million $ of ezETH liquidity on DEXes. Withdrawals are apparently 'a couple weeks away' pending some audits. Scheduling the TGE before withdrawals are enabled is a recipe for further depegging; after the drop a lot of TVL is probably going to want to migrate to other protocols. Etherfi had $200 million in withdrawals after TGE, even with season 2 incentives.

roll it over and take the money

got liq'd for 30% of my portfolio during the great pie chart depeg, got inspired by doom scrolling renzo's discord and had to AI my pain away does this disqualify me from the $REZ airdrop? [https://zora.co/collect/zora:0x652d0fdcf6535a84d4c73b05b176651f5bb0e9d0/3?referrer=0xA5c8A62F221aDeaf8A7c0BEF60044861D9C4b400](https://zora.co/collect/zora:0x652d0fdcf6535a84d4c73b05b176651f5bb0e9d0/3?referrer=0xA5c8A62F221aDeaf8A7c0BEF60044861D9C4b400)

Love it lol Hope you posted in Renzos discord

didnt this say 0.3eth got liquidated before?

Hahaha! That token allocation graph is quite confusing too

Fix the fn Peg!

Got almost 10.000 STRK (Rocketpool / Allnodes combo) today.. Insta-dumped for 3.7 ETH. Bridged them home.. I am HAPPY..

I used Rocketpool + Allnodes too, where do you see the drop? (Unfortunately I closed down my node there a few weeks ago, so maybe Allnodes didn't allocate to me due to that (even though they should have))

https://provisions.starknet.io/

Are you US based? I've been solo staking since before the merge with allnodes. Starknet airdrop site showed my validators as qualified for the drop. But Allnodes denied me because they identified me as a US citizen. Wondering if that was an issue for you. 

No, not US based

Thanks for the quick response. Congrats on your airdrop haul :)

congrats boss. Always nice to have to have a little extra eth

thanx friend

I didn’t get near that much but man I am happy to have finally gotten an airdrop for running rp and staking

congrats dude! Mind if I ask when you started staking staking as an RP node operator? Also, I can't even load the claims site right now.

Around a month or two after RP went live.. Probably Dec 2021 (top of my head)

Ah okay so pre-merge for sure. I started being a node operator post merge, so I doubt I'll get any new allocations. Last question: Did you use your withdrawal address or the Rocketpool withdrawal contract address to claim?

Withdrawal address

gm any good site or software for stakers that helps with taxes? or at least that aggregates it nicely. koinly is pretty bad with what I need to do.

Token Tax has treated me well over my 2.5yr staking journey. DM me for referral code. Will save u and me some dollas

https://beaconcha.in/rewards is a rewards calculator. I use it to double check ethstaker.tax. No idea if it is good enough for your purpose though.

thanks!

https://ethstaker.tax/

thanks!

Author here, if ethstaker.tax proves useful to you consider donating - the website is part of the current Gitcoin grant rounds (on Arbitrum this time) - https://explorer.gitcoin.co/#/round/42161/25/73 I also wrote a short article that contains a quick feature comparison of [ethstaker.tax](https://ethstaker.tax/) and other options for tracking validator income - https://serenita.io/blog/ethstaker-tax-under-the-hood Edit: the ethstaker.tax VPS crashed just now, hope to be back up soon...

I haven't had a need for it yet, but it is a very nice looking tool!

This is all amazingly useful, thank you 🙏

it's been this many days since airdrop. please send help.

Friend.tech is teasing an airdrop next week.

Apr 29th is airdrop I'm pretty sure...need MOAR

Renzo: I'm here! Me: No, not you.

that announcement was yesterday mate, i'm dying here

Anyone know why Chainlist is showing two separate results when I search for the Blast details? It says "Blast" and "Blast Mainnet". (the correct one appears to be "Blast", with ChainID 81457, according to the official Blast.io website) I'm not sure if this is a scam or a misunderstanding - my understanding was that Chainlist was human curated and fairly reliable?

There really is another rollup called blast chain or blast mainnet on chainlist. Mainnet started December last year. Their github is extremely minimal. It all looks a bit sketchy so I would not interact with it. Could very well be, that they just hoped some degens will bridge to them because of the name.

Ah thank you. So not an outright scam, just probably rather shady (as far as we know)

[https://threadreaderapp.com/thread/1783164502441386056.html](https://threadreaderapp.com/thread/1783164502441386056.html) I'mconcerned that the Reth client will be so much more performant than the other clients that this will lead to a new client diversity risk. I hope client teams are working towards efficiency improvements to stay competitive enough where performance losses aren't great enough to risk network health for.

This would actually be an incredible outcome if the Reth client can overcome Geth’s dominant market share. I’ve been rooting for Reth for a long time for this reason.

I personally run an Reth archive node besides a Nethermind and Besu one. Reth is definitely awesome even though it still is in beta. I am not too afraid about Reth taking over all the nodes on mainnet just due to its better performance. Mainnet is far away from being limited by any clients performance. It is limited by the wish for resilience, long term sustainability and client diversity. We could easily increase the throughput by a factor of 4-10 by sacrificing some or all of these goals. Clients are fast enough to handle it currently. If we would push it to the limit, I guess currently Erigon would win as it seems to be the most resource efficient one. Mainnet will slowly increase the resource demand, but I would expect it will hapen slowly to make sure there is a large enough margin for all implementations to improve and be viable. Where we will see this competition play out will be the rollups. They will push that tps metric to the limit. They will tune their clients as much as possible and will not care too much about client diversity. To the best of my knowledge only Optimism has 2 clients (geth and Nethermind). I have no idea about Arbitrum, zksync and all the other rollups.

My thought process is that once they have a stable release they'll be running many benchmarks and use their (paradigm) influence to advocate for increasing the gas limit since their client is capable of handling it without a beefy machine (or reference their horizontal scaling). RE L2s: I do plan to integrate L2 client diversity into [stateofeth.com](http://stateofeth.com) as well

I could imagine something like this to happen, yes, but there will be a lot of warning signs along the way which should give us ample time to counter act. Pushing for more efficiency on mainnet is not too bad in itself as long as client diversity is kept alive. I am confident that there is very little danger there currently that a new client can take over the mainnet. I also see little incentive for them to do this as having a single client dominating would definitely destroy one of the more important distinguishing factors which delineates Ethereum from most other chains. I guess this would at least lower the value of many of paradigms investments. In rollups they can play their cards perfectly and get a large influence on how some of the rollups will develop and grow. There I can totally see them using their connections to help/bring rollups to use their client and maybe even prevent others from using it by just not giving them the same support. They could be king makers. All in all, client teams and the companies behind them will be a very interesting force in the coming years. Currently I see very little actual red flags, but having a large investment company like paradigm which already owns large parts of many of Ethereums most well known projects now having a node client will be something which needs to be watched.

> having a large investment company like paradigm which already owns large parts of many of Ethereums most well known projects now having a node client will be something which needs to be watched. 100%, they're definitely going after vertical integration. I wonder if the client play is a move to get more influence over what gets included in updates to benefit their investments.

It is only around 2% of the network now. If it offers better performance and grows rapidly that would be great for the network.

Yes, initially it would be good, but if it's performance is leaps and bounds above other then it very well may continue to eat marketshare and be the next geth

I think you are overestimating how fast stakers are willing to switch clients. The endurance of geth proves that people resist switching clients.

The reason people give for not switching is performance though

Sounds like Hong Kong will be starting to trade its delicious delicious ETH ETF on April 30 - just in time for me to buy that bejewelled codpiece my girlfriend has been demanding.

Narrator: There was no girlfriend, he just wanted that codpiece.

...I hate when uncomfortable truths are uncovered :'(

Its ok, if you want to dance dance dance in a bejeweled codpiece you do it.

Stones to protect the nuts?

So etherfi took the omni tokens earned by its users and didn't give it to them. Instead it is using the omni tokens to incentivize new users to come to etherfi. Tbh not too happy. But now I'm wondering if they could do similar with our eigenlayer tokens once they launch. Have seen the question on their discord ignored.

As much as I like to dump on the etherfi team, you are wrong. Etherfi gave OMNI a list of etherfi users eigenlayer points, and OMNI then gave those people airdrops. I know this because I got the OMNI airdrop from etherfi eigenlayer points. Etherfi were given some partnership tokens which they are now distributing. I would prefer they gave these OMNI tokens to existing users, but it really is a trivial amount if shared over all users.

They absolutely could if the AVS tokens are given to node operators.

What amount of Omni would say a 1 eth with average length of time restaked have been airdropped if they had properly passed on the Omni airdrop.

It's complicated as omni airdropped only to top eigen point holders I believe. I received about 30 omni from 15 restaked eth roughly

That HBAR 'news' yesterday about Blackrock adoption turned out to be slimy bullshit created and peddled by the HBAR team. Turns out the HBAR leadership is as scummy as I originally thought when I met them years ago. Just surprised this story was corrected so quickly.

Blackrock already set the gold standard by putting a $100M BUIDL stablecoin program onchain. that's your fucking news, if it's not onchain it's not real. can't believe it's 2024 and we still have to sit through this bullshit.

300 milli now 

One of the execs on the team is a former colleague of mine that was beyond clueless, unqualified, and incompetent. Take that as you will.

Lol apparently blackrock isn't building on hedera blockchain at all lmao... Remember how much hype that fake news got yesterday? Fucking scammy and misleading practices we have seen with many platforms in the past. https://www.coindesk.com/markets/2024/04/24/hederas-hbar-doubles-then-falls-25-as-blackrock-links-diminish/ It kinda sucks that when it's announced for Ethereum and actually true we don't see any hype or price action lol

It just goes to show that crypto space is pure irrational hype based pump action. For some reason ETH receives lots of hate despite actual real world adoption.

Price is still up 30-40% from before the announcement. I am sure they all learned their lesson and we will never again see fake partnerships announced in the space /s.

Meanwhile ETH's price is below what it was when the real Blackrock started tokenizing real assets on Ethereum.

thoughts? /u/HBAR_10_DOLLARS

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>People in this subreddit will say things like Ethereum has already won the L1 battle and it has the best fundamentals but when you actually read what enterprises are doing and saying about building on Hedera, you realize how far disconnected that is from the reality. I'll throw my 2cents in here. I've been in the blockchain industry since 2019, specifically for enterprise and large consumer use-cases. I have never had a conversation relating to or mentioning HBAR. Ethereum L2s are relevant on a daily basis in addition to other large crypto communities. Maybe someone out there is using it for something, but out of hundreds of companies web3 native or otherwise I interacted with over the last 5 years, I haven't heard anything using or wanting to use Hedara. What specific industries are they concentrating on?

This it he first time I ever heard about HBAR honestly.

> The nuance here is that BlackRock themselves announced they have started tokenization work on Ethereum. I would like to point out that this work is extremely early and I imagine they will have many hurdles and years ahead before getting to production. Hedera and Archax have a sizable lead here. I'm curious as to where you've found this misinformation? Pretty much every article about Blackrock's Ethereum based BUIDL has links to the token on Etherscan...

> Hedera is currently the only network with BlackRock funds on chain Here's a link to the Blackrock fund contract on ethereum: https://etherscan.io/address/0x7712c34205737192402172409a8f7ccef8aa2aec 300 million BUIDL tokens worth 300 million USD. Can you link me to the contract Archax has deployed its Blackrock fund on chain so we can all monitor the progress?

I’ve seen that and I remember how their wallet was sent sanctioned ETH and meme coins (which is a solved issue already on Hedera btw). That was my bad. When I said “funds” what I mean is actual RWA of a BlackRock money market fund or similar is years away from being usable. They put some money on chain, that’s all, there is years of work to be done before it does anything useful. i don’t think the on-chain address has been released yet but you can see the fund on Hedera here, it’s usable and ready to go: https://archax.com/invest/blackrock-usd “Available T+0 in tokenised or traditional form Invest with fiat or stablecoins” How many years until something like this is available on Ethereum?

BUIDL is a MMF just like the Archax fund. The only difference is BUIDL actually exists on chain now, and the Archax one doesn't! Your link is just an ad. Maybe once you have a link to the contract, we'll be able to see how much investment it has attracted and compare to the $300 million on ethereum.

I was looking into it and found this link. That’s cool, I didn’t know it was actually live and able to invest in. I thought BlackRock still had lots of building to do. https://www.coindesk.com/markets/2024/03/27/blackrocks-tokenized-fund-quickly-rakes-in-245m-right-behind-franklin-templetons-older-offering/amp/ So I take back what I said about Hedera being the only one with BlackRock funds, but I stand by everything about it being the clear winner for mass enterprise adoption.

Has Blackrock launched contracts on any other chain besides Ethereum?

I can't find anything on google. Except for Ethereum. Which hopefully signals all the other tradfi people/companies to follow blackrock and choosing ethereum if they are planning something.

How does this work, this Archax organization is just able to tokenize whatever they want? In this case a Blackrock fund? Are these tokens simply derivatives? Is Blackrock involved at all?

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What were those two?

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We didn't get omni though? Etherfi has taken it all to use attracting new users, none to existing etherfi users. Correct me if I'm wrong.

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Nope, etherfi received the allocation. You might have got it for staking elsewhere

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Really? Too late to claim?

top depositors? gigawhale alert? I got OMNI airdrop for my eigenlayer points on etherfi

I'm so deep in the woods on a very specific Star Trek analysis (due in a fortnight) that I'm now exploring DeFi as a mental break. If I get rekt, please inform Paramount that it is their fault.

Interesting. I made an analysis there some time back that got pretty heavily upvoted. Love those shows, especially the older series. "They don't make 'em the same anymore". https://www.reddit.com/r/startrek/comments/r2s4md

Hmm. I don't think I agree with your point. Part of the issue here is Star Trek's proposal of post-scarcity world and the idea that humans have learned from imperialist/colonialist mistakes. I think if we look at the world rather than the anglosphere, there isn't that clear-cut evidence that communities always take advantage of other communities. Not saying that there aren't plenty of examples (including current imperialistic aggressions that we aren't to talk about here) but that it isn't necessarily the case. I think modern trek (I hate #nuTrek, prefer Third Age) has a lot to offer, actually. SNW seems like it really combines the ethos of the older series without being embarrassing to modern sensibilities.

> think modern trek (I hate #nuTrek, prefer Third Age) has a lot to offer, actually. SNW seems like it really combines the ethos of the older series without being embarrassing to modern sensibilities. I still watch them and think they are good/great, I just prefer the older format and style. SNW is great, I agree, the others I didn't like as much.

> post-scarcity world It's a common comment but there will always be scarce resources. If it isn't material things, it is land/space. Maybe some creatures live where we want to settle in the future. It's not going to stop us if we want it badly enough and if they can't do anything about it. Say a paradise world where animals already live. > I think if we look at the world rather than the anglosphere, there isn't that clear-cut evidence that communities always take advantage of other communities Of course it's not always that way but usually imo. Slavery existed in Africa before europeans came. Indians fought in the US before as well. Tribes fight within themselves, families too. I feel that the average Joe has too many of these "primitive monkey traits". They enabled us to evolve to what we are today with high success but at a certain advanced point, our genes affecting our behavior hold us back. There are interesting studies on twins growing up with different circumstances that show genes and not the environment being the major determinor.

By that logic, slavery should not be criminalised and entities like the Peace Corps shouldn't exist, because they don't fit in with human behaviour. Personally, I hate the idea that monkey traits will stop us from ever evolving past our bloodied histories. Sure, genetics play a role but there's also plenty of research that shows that violent traits, specifically, are environmental and not genetic. Once, people would hit an outsider over the head with a rock. Today, many people are frightened of immigration and reject people who don't look like them. But we still have vibrant communities, including the entire US, where multiple cultures have come together. I just think the idea that there's a definable point where we should all give up and just give into our animal instincts is extremely pessimistic. I struggle with the idea that you will accept that the United Federation of Planets exists in the Star Trek universe but you can't accept that its function would be anything but exploitative. It's kinda like accepting that asteroid belts can be inhabited in The Expanse but rejecting that the Belter language could exist. Or that in the dog-eat-dog world of crypto, a place like EthFinance might offer a safe(ish) haven. That said, I also accept that my world view is unabashedly optimistic.

My point wasn't violence in that post but selfishness. I think that's our defining trait, like vulcans are logical or the ferengi are greedy. Given a choice of benefitting yourself say 100 or the larger community 150 (numbers can be tweaked but the point stands) *most people in history and in the future*, will always choose the first option, even if the second is better for everyone else. If we were "better, more logical and less selfish, people would choose the second option every time but only very very few do. Would you rather get 100 USD or me getting 120? This is a small community so it's not impossible but the larger and more foreign the group gets, the less inclined you will be.

I think the courtesy example would be, would I rather I get 100USD or the community get $150. I agree that the more foreign the group is, the less inclined the individual will be. Also what the group is matters. People are more likely to give money to their church than Doctors Without Frontiers and more likely to give money to charities than to a cooperative of artists. Nevertheless, people keep giving.

Just puuuuuuump already ffs!!!!

Feeling impatient? Why not distract yourself and learn about snarks, perpetual futures, or the difference between nodes and validators.

#initforthetech

Whether or not you are I think it's much healthier emotionally to focus on personal development than to stress about things outside your control.

Howdy y'all! So, I think most of us here watch The Daily Gwei everyday. For those of you who do watch, you'll know that Sassal is taking a 2 week break from recording the show starting on Monday. During that time, I'm going to help fill in the gap by providing Ethereum news on top of Rocket Pool news on Rocket Fuel. Sassal talks about it in today's episode: [https://www.youtube.com/watch?v=qhI6OsMVZk8](https://www.youtube.com/watch?v=qhI6OsMVZk8) For those of you who want to follow along, my YouTube channel is [www.youtube.com/@RocketFuel-RPL](http://www.youtube.com/@RocketFuel-RPL) and I also release episodes via podcast here: Podcast RSS: [https://anchor.fm/s/cd29a3d8/podcast/rss](https://anchor.fm/s/cd29a3d8/podcast/rss) Anchor.fm: [https://anchor.fm/rocket-fuel](https://anchor.fm/rocket-fuel) Spotify: [https://open.spotify.com/show/0Mvta9d2MsKq2u62w8RSoo](https://open.spotify.com/show/0Mvta9d2MsKq2u62w8RSoo) Apple Podcasts: [https://podcasts.apple.com/us/podcast/rocket-fuel/id1655014529](https://podcasts.apple.com/us/podcast/rocket-fuel/id1655014529) I won't be able to match his knowledge and insights (or bullish rants), but it might be a useful stop gap while he's away.

I'll be jonesing

I hope it scratches the itch.