Quick Take
Avail unveils the Avail Trinity.
DeFi Saver releases a LlamaLend dashboard.
Mike Nueder on the risks of LRTs.
Renzo hits $500m TVL.
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Ether is up 2% over the last 24 hours, hitting a peak of $3,200, a price last seen in May 2022.
Avail Unveils The Avail Trinity
Avail, a modular blockchain focused on data availability, introduced the Avail Trinity, a framework comprising of three key phases, including Avail DA, Avail Nexus, and Fusion Security. Avail Trinity is designed to enhance scalability, unification, and security for the rollup ecosystem. Avail DA provides a scalable and secure platform for data storage, leveraging validity proofs and data availability sampling (DAS). Avail Nexus enhances interoperability by serving as a unifying coordination rollup that includes a proof aggregation layer and a mechanism for sequencer selection. Fusion Security increases Avail’s cryptoeconomic security by leveraging native assets from other ecosystems, like Ethereum, to support Avail's consensus mechanism. Avail also secured a $27 million seed investment, led by Founders Fund and Dragonfly.
DeFi Saver LlamaLend Dashboard
DeFi Saver released a new interface for managing positions on LlamaLend, a lending protocol centered around crvUSD developed by Curve Finance. LlamaLend introduces isolated pools that integrate with crvUSD, alongside an innovative liquidation approach named the Lending-Liquidating AMM Algorithm (LLAMMA). The LLAMMA uses a soft liquidation process for collateral, converting it into crvUSD, instead of an abrupt liquidation, which can trigger a cascade of liquidations for large positions. The mechanism reverses the conversion from crvUSD to the original collateral when market conditions improve. DeFi Saver is a dashboard aggregator for managing assets across various protocols.
The Risks Of LRTs
Ethereum researcher Mike Neuder and Gauntlet CEO Tarun Chitra have co-authored an Ethresearch article on the risks associated with liquid restaking tokens (LRTs). Their study compares LRTs with bonds, L1 staking, EigenLayer AVS positions, and Liquid Staking Tokens (LSTs), examining factors such as liquidity, yield, duration, default risk, and how they fit into an investment portfolio. The article points out the risks of LRTs, including the increased complexity from layering protocols, additional slashing conditions, macroeconomic and market fluctuations, and operational risks. The paper aims to underscore the increased risk that accompanies the rewards offered by holding LRTs. The LRT ecosystem's TVL has surpasses $4 billion.
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