Not at all. The system doesn’t allow new deposits when there isn’t a bond to back them, to keep from being undercollateralized — and ETH bonded was briefly lower. Quite a bit more ETH from stakers now.
I give you my vote for tBTC poll
Considering that tBTC is completely decentralized,open source and passed audits I think everyone will benefit when adding a pool tBTC/[renBTC/sBTC/wBTC]
exchanging for TBTC is very easy and secure, which is why I support TBTC pool
Against. It’s far too early, tBTC needs more time to demonstrate security and scalability.
I also give my vote for tBTC
I vote FOR tBTC integration
Really think tBTC is too early.
Saw this recently on the Aave thread but can the tBTC folks explain the multiple 10 BTC liquidations and the ‘Setup Failed’ transactions? What you all are doing to resolve this?
https://allthekeeps.com/deposits
Given all this, are you confident tBTC should be included in Curve so early?
Hey @StevieWonder, both of those are the protocol working as intended — I suggest you give the spec a read.
A signer went offline when a tBTC redemption was requested. The redeeming user requested a liquidation, and got their funds from the signer’s bond. If a situation like this happened with renBTC or WBTC, the user would be out of luck and need to seek legal recourse.
You’re welcome to read more about failed setups in the spec as well… but I’m not really sure what they have to do with Curve?
I appreciate that this stuff is new, but there’s nothing scary going on here. Custodial risk is on the signers, where it should be.
Not particularly concerned with WBTC or renBTC, this proposal is about tBTC.
I suppose the larger question is, don’t you think these systems should experience a variety of market conditions to ensure there is no systemic risk to tBTC?
I understand your desire to have tBTC propagated throughout the ecosystem but shouldn’t things systems be fully tested out in all scenarios first, before putting users’ funds at risk?
Are you fully confident this will not be an issue in the future?
This is exactly why we have a guarded release. This is a classic chicken and egg problem — how can you be sure of safety without market activity? How can you have market activity without safety?
That’s why we’ve set a graduated supply cap. You can never be fully confident a system is secure, and anyone who says otherwise is either inexperienced or dishonest.
Not particularly concerned with WBTC or renBTC, this proposal is about tBTC.
Haha you say that, but appear to be following me from forum to forum… is there an agenda?
I’m mentioning alternatives because liquidations show the strength of this model, not a weakness. This is a protection built into the protocol that’s above and beyond other options.
Not following you bud, been here for a while so may want tone down that narcissism.
Just want to evaluate and be crystal clear on the system risk tBTC introduces to a pool that have quite a lot of funds in. Thanks
To be clear, both of these pooled alternatives are for a new pool, and do not impact existing deposited funds. Hope that helps clear things up
Metapools help isolate the risk inherent to tBTC from the core pool without diluting liquidity. I think some more documentation on this topic will be out soon to explain it more fully.
I think think this is an interesting proposal. However all Curve needs is 1 failed pool for it to absolutely destroy all the fantastic work that Michael and the team have been doing.
Let’s re-discuss in 6 months once this solution is battle-tested.
So where this went? Is tBTC going to be included and roughly in what time frame?
It’s going to happen .soon
if you look at their github you can see progress happening
so how long after the voting ends it can be implemented?