The classic signs of a bear/crab market are usually an increased number of hacks and rugs, blockchain and network problems and drama amongst web3 teams. We have seen them all this month, a cumulative loss of more than $280M on Fuse, Beanstalk and Inverse Finance exploits, Solana down once again and now blocking NFT minting bots manually at the L1 layer, Fantom on the brink of collapse due to a $50M liquidatable whale, and Jewel questionable leadership. This toxic weather is harmful to humble farmers, growing crops is getting more and more competitive.
The golden standard of 20% APR on stables from Anchor is finally over with their implementation of the dynamic earn rate, eyeing close to 10% APR by the end of July. The DeFi yield benchmark is quickly and radically reducing with SumCap’s long term value proposition further shining in this environment. Be safe out there.
Figure 1 - Portfolio decomposition by strategies deployed.
Figure 1 - Portfolio decomposition by strategies deployed.