Love the explainer. Thank you

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Nov 16, 2022Liked by Michael Feng

If the SBF tweet is worded like the tweet from chef nomi then look at chef nomi's code on github vs SBF code. There should be pretty glaring similarities.

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... Alameda farmed and dumped onto the global retail population

and it includes everyone who trusted their life savings on FTX all the

individuals as well as all the the projects and and the funds so I think this actually might

be the biggest crime in history in terms of the number of victims affected ...


... why should they sell them when they can put them into farms, you know take those LP tokens uh re-hypothecate them and lever up even more and so this was really about yield farming...

criminal mind:

... he didn't talk about how the yield comes from the opportunity cost of capital borne by stakers and LPS uh this exact same way it doesn't tradify uh he didn't talk about how yield farming is just an example of the composability overall of deal of defi and and that's the difference between that and the tradify world of spvs and paper certificates instead SBF he just thought of defi as a

giant Casino starting with being the mastermind behind the sushi swap debacle abusing cream governance to force fct to be used as collateral he just kept levering up while extracting billions of profits to fund his own personal ventures...

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great, candid sharing

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