📃Very ambitious proposal for @yieldbasis launch: 🔥60m pre-mint allocation of $crvUSD for 3 pools $wBTC - crvUSD, $cbBTC - crvUSD and $tBTC - crvUSD 🔥veCRV gets control of allocated $YB emissions 🔥20% of total $YB inflation under control of CurveDAO (veCRV) 🔥 $YB allocation to be used as voting incentives to veCRV/vlCVX to build up liquidity for crvUSD/USDC, crvUSD/USDT, crvUSD/pyUSD, crvUSD/USDf, crvUSD/frxUSD pools. Not sure how I feel about pre-minting so much crvUSD given that we don't know how close the real-world performance will be to the simulation results! Maybe YieldBasis could do some kind of bootstrapping program to obtain initial crvUSD liquidity for the three bitcoin pools (bonding, token sale etc..) $CRV $CVX

Never mind the 20%..... if $YB can deliver 5-6% on single-side #bitcoin deposits without any major drawdowns that would be enough to make it the most liquid-on-chain $BTC market, and $crvUSD one of the most liquid and traded stablecoins on Ethereum. Implications for $CRV can't be overstated ....

UPDATE #6: Big outflow of $CRV from exchanges today @ $11m..... someone is definitely buying the dip! This is the 2nd highest daily spot outflow since launch of CRV! 📊🔥 Btw, $ETH also seeing record spot outflows today @ $509m 🏆

UPDATE: Ethereum validator exit queue has started to grow again: +217k $ETH in just two days 📊📈🚀 Pretty obvious this increase is directly related to the price! At current prices that 217k ETH is ~$1b Generally speaking as the exit queue grows all LST pegs get weaker: $stETH has been depeged since mid-July, which is when the exit queue started to grow! If the exit queue gets past 1m ETH and continues growing at a rapid pace, there could be some major peg volatility for all LSTs which could impact many major #DeFi protocols like AAVE, Ethena etc... ⚠️ @robdogeth did a great post on the stETH peg and how looping-leveragooors are affected by the exit queue. Highly recommend read if you want to improve your understanding: $USDe $AAVE $CRV $LDO

I'm bullish on Ethereum and all, but doing demand/supply analysis without taking into account the staking exit queue is a bit misleading imo. Validator exit queue has started to increase again, so that's a substantial amount of $ETH that is becoming liquid on a daily basis..... 66k ETH to be more exact, ~$300m per day @ current price of $4500! If ETF inflows average $300m per day that should nullify most of these outflows, but still should be part of the analysis!

Ethereum ETF inflows today @ $1.02B (new ATH) Bitcoin ETF inflows today @ $178m $ETH @ $20k will flip $BTC in mcap, that's 0.18 on ETH/BTC The flippening might really be FUD 🌝 $ETHA $FETH $IBIT $MSTR

UPDATE #5: $6.2m in $CRV flew out of exchanges today 📊🔥 Moon🌕Math: In the next two weeks CRV annual inflation drops down to just 5.34% (315.6k CRV/day, $290k/day)..... so current daily outflows are more than 20x the daily emissions!! Even if average daily outflows drops to just $2m per day, that still 10x daily emissions at current price.🤯 Supply shock pretty much guaranteed at some point in the near future.... $CVX .... $crvUSD ....⚙️....

UPDATE #4:💥Boom... $10.3m in $CRV flowed out of exchanges today despite overall crypto market being down. Even more impressive are the weekly outflows @ $25m, which is the 3rd highest weekly outflows since the launch of CRV in 2020!!

Many Curve pools today showing 50%+ utilization and double-digit % base APRs from trading fees, and some of these pools have many millions of $ in liquidity. $sUSDe - #sUSDS 🔥 13.5% 📊 $CRV $CVX #DeFi

UPDATE #3: Yet another strong day of $CRV spot outflows from exchanges @ $7.5m 📊💪 Someone is definitely buying the dip ....