Friday the 13th: The Fourth Turning 🔁♻️
High borrow rates create expensive $crvUSD
Titanoboa
Exciting news for devs… Titanoboa officially shipped, bringing it into compatibility with last week’s Vyper 3.10 release.
Officially supported new features include deploying contracts directly using Titanoboa, Jupyter Notebook integration, and coverage.py support. Enjoy!
Reserve Protocol
If you missed it, we hope you are able to take a listen to our 𝕏 Space yesterday with Reserve Protocol regarding their launch on Base.
Reserve Protocol has a mission of helping people around the world fight inflation.
One might therefore fear the protocol will soon death spiral, given that Nobel Prize winners have declared inflation to be defeated, (excepting luxuries like food, energy, and shelter.)
Yet somehow, Reserve is going stronger than ever? Confusing…
The Fourth Turning
Such stability. Such balance. But at what cost?
The market cycles were written in the charts. We are predestined to suffer on a roughly monthly basis.
After a steady Sleeptember, rates are celebrating Up-tober.
And as a possible consequence of rate hikes, supply is reacdting quickly, contracting to dangerously low levels not seen since last week.
Beneath the hood, there may be another explanation… the market equilibrating with the launch of $sFRAX.
In this epicycle, we see the phenomenon of declining supply, all while more protocols embrace $crvUSD. Most recently, Pendle is hoovering up $crvUSD supply with competitive yields.
