Credit/Macro/Crypto Analyst, Former Credit/MA PM

Rose Choy

I have 20 years experience in credit and global macro both sell side (banking and trading) and buy side. Most recently managed multi asset and fixed income strategies. Crypto is my latest focus given huge inefficiencies and lack of quality research and insight. My crypto research will be through a trad-fi lens but with intimate knowledge in the crypto trading ecosystem.

A Quick Review of the Celsius Bankruptcy Filing

Ethereum Merge and Hard Forks- Pinching Pennies in an Efficient Market

DeFi Options Protocols Series (#1): The New "Robhinhood" Of DeFi?

Crypto

<ul>
<li>We compare the yields in some Ethereum based protocols and figure out what an effective USD denominated yield would be, which is more relevant for most investors.</li>
<li>On Curve and Convex, the ETH-stETH liquidity pool can pay liquidity providers (APY) close to 10% in USD terms which appears attractive.</li>
<li>However, this reflects systematic liquidity concerns among major trading crypto firms and could be a canary in the coal mine for the crypto space.</li>
</ul>


We compare the yields in some Ethereum based protocols and figure out what an effective USD denominated yield would be, which is more relevant for most investors.
On Curve and Convex, the ETH-stETH liquidity pool can pay liquidity providers (APY) close to 10% in USD terms which appears attractive.
However, this reflects systematic liquidity concerns among major trading crypto firms and could be a canary in the coal mine for the crypto space.


Yield Comparisons Across ETH Based Protocols