Taking a brief hiatus, we're hitting pause on the project for a few months - To those eager to continue this journey with us regardless, your patience is immensely appreciated. When we resume, our goal is to reboot with a vibrant, dedicated community at the heart of it all.
Hello guys. We are really grateful for all of your interest today! 🙏
Unfortunately, due to high traffic, our bot is having some hard times.😢
Please wait patiently for the reply; it will be back ASAP.
#Backlash
⚙️
Fyi; you already have the points if you have received the following reply!
" Welcome on board! Hurry up and pick up your 7 points! Tag your friends and claim more points. "
We really appreciate all of you folks!🩶⚙️🩶
Announcing the launch of Backlash Discord🎉
We are ready to welcome our earliest Community Members as we together build out the infrastructure of Defi’s Loan Derivatives.
Come on board, and Gear Up. It’s about to get interesting.⚙️
#Backlash
#Discord
After extensive user interview and research, we've made the decision to pivot directly to V2. While V1 was close to launch, we recognized gaps that needed addressing to truly serve our users. Although we explored current trends like isolation and customizability, our renewed
It was a big day today!
🥈Tier 2 waitlist has ended!
🥉Tier 3 waitlist was supposed to accommodate 1000 people; however, with everyone's eruptive interest, we are changing our plan to 1500 people!🔥
Join your tier 3 waitlist now!⚙️
Messages sent to all successful applicants!
For those who haven't received it yet, regrettably, we can't accommodate you this time. But as we grow, future chances may arise!
If you're keen on some feedback, just hit us up. Seriously, big thanks to each and every one of you 🩶
Application is closed!
We greatly appreciate everyone who submitted applications for the contributor role. Anticipate a DM from us shortly.
Although we may not be able to engage everyone, but for those who stepped forward, your efforts are deeply appreciated. Thank you 🩶⚙️🩶
🚨$GHO Short Position (Borrowing Position) Risk Analysis 🚨
If you've minted GHO on
@AaveAave
, especially if you've opened a leveraged position with GHO debt, or know someone who has, this is a must-read.
We're thrilled that 50+ people have expressed interest in becoming contributors! We're seeking bright members ready to grow our community from the ground up⚙️
13 questions, but only 4 mandatory - feel free to tackle the rest as you see fit!
GM ⚙️
It’s been a long time since we made a public announcement.
After pivoting our direction, it took us some time to decide how community could be aligned with the new version of backlash.
As the First step, We will introduce and share interest rate arbitrage
NEWEST EP, BACKLOOP by BACKLASH OUT NOW.
Check out on our official discord server.
Try it, and leave simple feedback for us, you can redeem your Backloop poap.
👇👇👇👇👇👇👇👇👇
We're thrilled that 50+ people have expressed interest in becoming contributors! We're seeking bright members ready to grow our community from the ground up⚙️
13 questions, but only 4 mandatory - feel free to tackle the rest as you see fit!
Application is closed!
We greatly appreciate everyone who submitted applications for the contributor role. Anticipate a DM from us shortly.
Although we may not be able to engage everyone, but for those who stepped forward, your efforts are deeply appreciated. Thank you 🩶⚙️🩶
Our Tier 1 waitlist has been completed!🔥
But don't be upset; we still have plenty of seats on our cruise!
Join tier 2 waitlist now, and don't miss out on anything anymore.⚙️
#Backlash
Big news! ⚙️
We will host Discord👏exclusive👏 AMA on Friday at UTC 3pm. We will feature different topics to answer your questions on the stage channel of our discord server.
Make sure to join AMA, non-fungible rewards may be waiting for you..🫢
Hello guys. We are really grateful for all of your interest today! 🙏
Unfortunately, due to high traffic, our bot is having some hard times.😢
Please wait patiently for the reply; it will be back ASAP.
#Backlash
⚙️
couple days ago i discovered
@hotnewcrypto
. quickly became one of my fav twitter accounts and oh man that telegram is on spot!
thanks to them i got to discover
@backlash_fi
under 60 followers and got on WL 1
if you wanna be early everything gib a follow and thank me later 🤝👽
The past 2 days of Backloop’s discord exclusive phase have ended, and
Backloop by Backlash is finally out now!
🔥🔥
For new updates on APY and risks, check out the posts below👇
#Backlash
#Backloop
#sDAI
#GHO
GM⚙️
We have posted interest rate arbitrages/strategies on our Discord server for the past few days.
Here is our weekly recap of what we have presented and the insight we gained.
To check the strategies, join our discord server here👇
Grand opening to the professional-level Backloop mute button design contest
Currently, Backloop does not have a music mute button on its page. The Backlash team has come up with some brilliant designs however we want to share the opportunity with you guys to be part of our
and GHO's growth was mainly driven by leveraging yield bearing assets as collateral and GHO as a debt.
Max Leverage ratio / APYs Based on our formula (sans slippage / depeg) :
▶️ wstETH 4.65x -> 11.29%
▶️ rETH 3.9x -> 8.42%
▶️ sDAI 4.3x -> 16.55%
Greetings to everyone I met during ETH SEOUL & BUILD ASIA⚙️
We appreciate everyone for joining our journey.
To be worth your time and effort, we are shifting up our gears to max speed.🏎️
Hold tight; we will be reaching out in a short while.🩶
#Backlash
#EthSeoul
#BuildAsia
[ Net APY risk 1/4 ]
The majority of GHO's collateral, around 31%, consists of wstETH, followed by wETH and wBTC. After that, we've got rETH and sDAI contributing 6.7% and 6.3%, respectively.
15/ Our team at
@backlash_fi
is building
@246_club
that will bring a new primitive to lending space leveraging Aave’s deep liquidity while maintaining a symbiotic relationship with Aave what we consider as the base layer. Stay tuned if you want to know more!
The net APY derived from borrowing GHO at Max LTV with each yield bearing asset as collateral is as follows :
▶️ wstETH : 2.43%
▶️ rETH : 2.16%
▶️ sDAI: 3.85%
Formula 👇
A few hours ago, a proposal was passed to increase GHO's borrowing rate from 1.5% -> 2.5%, and as of the time of this post, this will be reflected in 9 hours.
3/ Bond Liquidity Pool (BLP) compensates the interest on the deposited collateral at a rate higher than the original lending protocol. The BLP offers near-fixed borrow interest rates & dynamic deposit yield based on utilization. Yes, more gains for you! 💰
Since the 16th day of the proposal's introduction, about 1 million GHOs have been redeemed.
The borrowers does not seem to be reacting very elastically to the impending increase in GHO's borrowing rate, but that could change once it's implemented.
Sorry if we missed any of your inquiries earlier!
Our DMs are now open for all your questions, feedback, and if you're interested in user interviews, or simply just want to say hello.
Can't wait to chat with y'all :)
2/ Bonds redefined - Where protocols like Aave don't support direct bond acquisition, Backlash acquires the lender's rights by repaying the debt and migrating the loan to our protocol. Essentially, we’re buying bonds! 💡
'Gear 1' - our introductory medium laying out our bold vision for the loan derivatives infrastructure.
Stay tuned for more!
#defi
#bonds
#derivatives
#aave
ALPHA LEAK
Alright peeps, You will find downwards a lot of early-stage projects that ticked our radars 📠
They will be listed from oldest to earliest (which mean the earliest are the ones at the end of the tweet)
Have fun but as always, DYOR.
We will never be sponsored.
Act
One-Click sDAI <> GHO flash leverager is now available on our discord.
Want to check out what 3.8x leveraging looks like?
Try, leave feedback, and get yourself a poap!
Join our official Backlash Discord server here👇
#Backlash
#Backloop
#GHO
#sDAI
Now, if Aave's borrowing rate inches up from 1.5% to 2.5%, here's how the net APY would adjust:
▶️wstETH 11.29% -> 7.57
▶️rETH 8.42% -> 5.49
▶️sDAI 16.94 -> 13.02
GM GN to all the active followers rn
Plz Let us know if it's a good timing to announce smtg
Plz Let us know if it's a good timing to announce smtg
Plz Let us know if it's a good timing to announce smtg
Plz Let us know if it's a good timing to announce smtg
Plz Let us know
Bluechip, a stablecoin risk analysis team, suggests that the sDAI<>GHO position, which maintains an attractive APY, will likely continue to remain as a driving force behind GHO's selling pressure despite the rising borrowing rate. 👇
6/ Users are taking advantage of this low rate with the leveraged sDAI strategy.
Here, users deposit $DAI into
@MakerDAO
to earn 5%, borrow $GHO at 2.5% against the deposit, swap GHO for more DAI, and repeat the loop multiple times.
This further increases sell pressure on GHO.
[ Liquidation risk 2/4 ]
The most important and most directly damaging risk, liquidation, will not occur with an increase in the price of GHO, as the price of GHO is fixed at $1 on Aave Oracle. However, liquidation is still a possibility with volatile assets like wETH and wBTC.
One account, which accounted for around 400K of this, was a sDAI collateralized position, but this is still too vague to conclude that even the safest and highest yielding sDAI collateralized positions will cascade redemptions, or vice versa.
Thus, Net APY, which will dip with the increased borrow rate, could prompt borrowers to close positions. However, as for sDAI, a stable collateral<>debt combo, an APY north of 10% could still hold appeal for borrowers.
$GHO does not currently have a PSM, so the main scenario that could bring GHO to peg is if borrowers repay their GHO debt
-> borrowers re-purchasing GHO to repay their debt
-> increasing the demand and thus the price of GHO.
Better explanation 👇
7/ $GHO's stability also relies on users buying $GHO below peg and selling it for $1.
However, GHO buyers cannot redeem it for the underlying collateral. The only way they can exit is via on-chain liquidity pools. Without redemptions, users cannot engage in arbitrage.
Before diving into Backloop, a tip: Open a position with a wallet without any live position on Aave V3. Mixing loan positions with conflicting health factors can complicate closing your leverage.
Good news: GHO and the DAI underlying sDAI are both pegged to $1. This makes the position safer from the 80% liquidation threshold, especially when compared to volatile debt-collateral pairs.
DSR utilization% has crept up slightly from 24% to 28%
Still a fair distance away from the 35% threshold which is when the ESDR for sDAI permanently drops to ~4.3% APY