Yesterday, an external fund manager overseeing Stream funds disclosed the loss of approximately $93 million in Stream fund assets.
In response, Stream is in the process of engaging Keith Miller and Joseph Cutler of the law firm Perkins Coie LLP, to lead a comprehensive investigation into the incident.
We are actively withdrawing all liquid assets and expect this process to be completed in the near term
To keep our stakeholders informed, we will provide periodic updates as additional information becomes available. Until we are able to fully assess the scope and causes of the loss, all withdrawals and deposits will be temporarily suspended. Any pending deposits will not be processed at this time.
Our decision to retain Perkins Coie LLP reflects Stream’s unwavering commitment to transparency and robust corporate governance.
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The first yield bearing, MEV recapturing, low funding rate by-design DEX
Secured by @eigencloud using @EthosStake AVS
Safe bridging with @noble_xyz, trusted by Circle and Market Makers
This is Stream, the end-all liquidity layer for perpetuals👇🧵
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12m of TVL within 10 hours of launch;
Time to see what the hype is about, Sonic.
Building with
@SwapXfi
@ShadowOnSonic
@stabilitydao
Just use Stream.
@AndreCronjeTech
It begins.
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Stream has surpassed 110 million of tvl
•Within 4 months
•Zero private deals
•Providing the best yields at 1 click
Sincerely thank you to every user and team that has supported us so far;
Stream shall continue doing the utmost to provide the best yields at 1 click for every one of you
Looking forward to rewarding organic users as much as possible
Huge shoutout to some amazing teams we have had the pleasure of working with so far
@ShadowOnSonic
@SiloFinance
@Trevee_xyz
@SonicLabs
@berachain
@MEVCapital
@AvaLabs
@MidasRWA
@reservoir_xyz
@stabilitydao
@elixir
@EnclabsFi
@GetYieldFi
@YieldNestFi
@eulerfinance
@InverseFinance
@FlareNetworks
@TermMaxFi
@term_labs
@pendle_fi
@spectra_finance
@WildcatFi
@hyperithm
@roycoprotocol
@SnakeOnSonic
@ResolvLabs
Just use Stream.
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Stream is happy to announce our launch on @avax!
Stream Avax vaults work by taking advantage of basis and carry trade opportunities on Avalanche, where the funding rate is higher than the cost to hedge exposure.
This allows for users to arb the rate without active management
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Happy to announce Stream has signed letters of engagement with various reputable firms, who will be handling our proof of reserves, >400m of our backing is public and transparent on chain,
In the mean time we have shared our books to various curators and are in the process of completing a transparency dashboard to make it easier for users to digest
Feel free to reach out with any questions regarding this process and we are more than happy to address them all!
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Excited to announce Stream is deploying to Berachain;
Excited to be build with some of the best;
@berachain
@KodiakFi
@Dolomite_io
@0xBeraPaw
@InfraredFinance
Ooga Booga.
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Today was an incredible test for all major protocols
Stream has functioned as intended, and remains in profit.
A full breakdown of how we managed risks and exposure will be published when the dust settles
For those particularly badly hit, we are also hiring!
Just use Stream
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Celsius. FTX. BlockFi. Hodlnaut. Voyager. Anchor. Vauld. What do these companies have in common, and why in a time of unprecedented interest rates are real DeFi yields so low? Here is a short 🧵 about how Stream will bring money markets to DeFi👇
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Not only has Stream surpassed 200 million of TVL but,
We are excited to announce we will be deploying to Plasma day 1
We believe there will be many opportunities for users to be able to generate the best yields possible for users on Plasma
Incredibly thankful to every team we work with every single user and member of our community who is with us today, we will continue to do the utmost possible to put you guys, our users first and generate the best yield for you at 1 click and we believe plasma will be one of the best places for building this out
Very hyped to see what the future has to hold, we value every one of you immensely :)
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Over the last few days, there have been a lot of questions about recursive looping, what it is, and why we use it.
Recursive looping is when a protocol loops its own asset to capture a spread in interest rates. For example, if you have an asset earning 15% that you can borrow against at 10%, on 1x you make 15% (no borrow cost), on 2x you make 20%, 3x 25%, 4x 30%, etc.
This increased yield then goes back to users either in the form of yield or our insurance fund. This allows users to earn more while taking on more risk.
DefiLlama has decided that recursive looping is not TVL per their own definitions. We disagree with this, but to be transparent to users the website now makes a distinction between user deposits (~$160M) and total assets deployed across strategies. (~%$520M).
To make this easier to understand for users and not show different numbers that are confusing, we have also updated our website.
We have signed letters of engagement with third party attestation companies and have shared access to our books. These things take time to do right, but we are moving as fast as we can to give users guarantees.
In the meantime, our dashboard has been updated with a breakdown of where funds are deployed to.
dashboard.streamprotocol.mon…
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Super happy to announce Stream is live!
We are currently offering :
~30% on USDC
~15% on ETH
~15% on BTC
+ Fixed weekly points
Straight to users, zero fees, zero VC’s
Study $HYPE :)
The best yields on the market with the push of a button;
Yield made simple;
Just use Stream
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Stream has surpassed over 500k of profits generated for users;
•16% on USDC
•12% on ETH
•7% on BTC
Fully liquid.
Just use Stream.
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Stream has launched on @Arbitrum!
Access capital-efficient USDC and ETH lending and perpetual markets in a single click!
Stream’s strategies are more efficient by taking advantage of carry trades, and on Arbitrum, gas fees can be slashed by 99% for users
streamprotocol.money
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Super excited to announce three new partnerships!
•We have partnered with @ShadowOnSonic to build on Sonic as we believe Sonic is the best place for builders atm; our liquidity pool can be found here for farmors
shadow.so/liquidity/0x5d4788…
•We have partnered with @roycoprotocol on Sonic to add extra USDC and gem incentives on top of already juicy xUSD yield
app.royco.org/verify?redirec…
•We have partnered with @GetYieldFi and @CurveFinance to begin building liquidity for lending market integrations while minimizing opportunity cost for farmors while earning points for both protocols simultaneously
curve.fi/dex/ethereum/pools/…
Best Yield at 1 Click,
Just use Stream.
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5m of Usdc cap filled within 20 minutes.
20m of TVL.
Yield made simple; Just use Stream.
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Zero fees, Zero VC’s, Zero TVL deals,
Zero bullshit.
25m of TVL within the first 5 days.
1 Click yield.
Just use Stream.
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Droplets are now live!
Earn droplets by using Stream's DMM product and contributing TVL
Check it out here!
app.streamprotocol.money
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Week 27 Results are in🎊
Stream users earned 14% annualized on USDC, 7.4% on ETH, and 6% on BTC
This is higher than Ethena, AAVE, and Thorchain yields this week
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3/ Stream has partnered with @berachain to allow for easier native deployments of Bera assets on the platform, as well as a share of all Bera-related platform fees going to BGT holders automatically.
Proof of liquidity x better liquidity = better experience
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Stream is happy to have launched on @SeiNetwork DevNet!
Sei V2 is a parallelized EVM that will allow for lightning fast transactions, high throughput all while being cross compatible
This has a variety of benefits for Stream, while Stream can support Sei V2's Ecosystem👇🧵
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Stream's vaults will be on @MovementLabsxyz!
Stream users will be able to take advantage of Movement's low transaction costs while earning competitive yield that aggregates the best possible delta-neutral trades
This is the future of DeFi management
We're excited to announce that @StreamDefi is coming to Movement!
Stream offers Delta Neutral yield-bearing vaults using their Decentralized Market Maker (DMM).
On M2, Stream can reach Move DeFi users and liquidity without rewriting a single line of code thanks to Fractal ⚡️
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$12.5M in TVL!
We are incredibly humbled by the positive reaction of the community to our public launch of the V1 product
We are excited to continue building out a better DeFi
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Stream is happy to launch on Rootstock!
Rootstock is an EVM-compatible smart contracts platform secured by BTC!
Users of Rootstock can deposit rBTC into Stream and earn one of the best yielding products on BTC.
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In order to qualify for the open Beta, you will need to follow our twitter and fill out a google form. This will not by sybil-able so please don't try you degens. Winners will be randomly selected but cross referenced.
Hit the 🔔 button to be the first to know!
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NOTICE: Yield at the moment is paused, and deposits for vaults are disabled, withdrawals will be processed as normal.
Strategies are currently paused as we look to move towards a more trust less execution system for our strategies, and as we work on an upcoming announcement
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Week 24 Results are in!
15% on USDC, 8% on ETH, 5% on BTC (All annualized)
Net deposits of ~$100k, mostly in the ETH DMM
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6/ Stream further optimizes for MEV / liquidations by integrating with @warlock_xyz, where MEV and liquidation fees can get recaptured and passed on to the protocol and users in the form of lower fees.
Sorry Jared!
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4/ Stream will be cross compatible with ETH, Berachain, OP, AVAX, and also @movementlabsxyz
Movement's focus on speed while using Move on the EVM is aligned with Stream's own focus on improving the user experience
All EVM addresses sign the same way, so why not accept all?
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We are happy to announce Stream's yields are powered by @MorphoLabs!
We use Morpho to borrow stables against BTC and stETH
We then run delta-neutral strategies, paying back Morpho lenders and leaving extra yield for our users, with Morpho users prioritized in the cap stack 🤝
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Stream Week 25 results are here!
In spite of aggressive market volatility, Stream has continued and has been largely unaffected.
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11/ We plan to launch our MVP V1 by end of June, this will be a multichain DEX with native yield
Liquidity will be provided by the DMM and MMs we have agreements with
Follow us to get updates and check out app.streamprotocol.money to start earning points today!
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Stream is happy to announce the closed beta of our DMM product, allowing for automated rate arbitrage!
Earn 20% APY on $USDC, 10% on $ETH, 5% on $wBTC, all real yield, no incentives!
If you're interested reach out to @OMS_ETH or check out our website!
streamprotocol.money/
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Earn additional yield with your stETH! Deposit into AAVE, take out a stablecoin loan, and arb the FFR using stream (currently 4%-4.5%) and the platform rate (2.3%-3.45%), a step by step strategy to additional income
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We are happy that our CEO @DiogenesCasares has been selected for the @thielfellowship Class of '24!
This has been a massive team effort, working non-stop to get to this point.
We are incredibly proud of our team, and excited to continue building!
Super happy to be joining the Thiel Fellowship Class of '24!
Thank you to our early backers who helped us push @StreamDefi out and build it from an idea into a cracked team. I look forward to building out DeFi products that can outcompete CeFi and bring mass adoption!
ALT https://www.businesswire.com/news/home/20240320742346/en/Thiel-Foundation-Announces-Next-Thiel-Fellow-Class
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10/ Our team is made up of industry veterans and engineers that are driven by the complexity of the product and the incredible value that Stream can provide to the space we are always hiring, reach out to @DiogenesCasares if interested!
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Stream 🫶 @templedao
They see the vision
Temple is proud to be one of the earliest depositors and supporters of @StreamDefi with $3M deposited on the platform
We look forward to seeing the product evolve over the coming months☀️
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1/ Stream leverages capital efficiency and cross margin to allow users to get higher leverage *without* soft liquidations, enabling lower funding rates for users
This creates a better product for both makers and takers
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Week 8 Update🎊
Yields on ETH-base vaults were 39%, 19% and 5% on USDC, ETH and wBTC respectively.
Yields on Arbitrum and Avax were slightly lower due to more cautious management on these new chains, meaning returns were approximately half of ETH this week. This will not be the case in future rolls.
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We are one week away from the launch of Stream V1!🎊
Here is all you need to know: Stream V1 is an automated vault style system that buys 4 week treasuries, allowing everyone to cash out and share transfer costs. If you want to withdraw before, we also do OTC transfers!
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Given our closed beta launch is in 2 days, lets go over how Stream is launching.
For our first epoch (4 weeks) it will be closed beta.
Next epoch (4 weeks) will be open beta.
After this second epoch, if all is well, we will open publicly on chain.
So PUBLIC launch March 13
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2/ On top of lower funding rates, Stream allows for users to earn yield on their collateral.
That means users paying funding rates to go long have their rates effectively lowered automatically, and market makers / users getting paid funding get a boost to what they are paid
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Stream is working on an update to its current DMM products! This will:
1) Increase returns between 60-150% depending on pair (efficiency adj)
2) Increase liquidity to 1 day window instead of 7
This solution is being tested, as we focus on an exciting new announcement...
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5/ Users from these chains and more will be able to deposit into Stream via the web app. In the background, the assets are converted to their native chain and bridged via @noble_xyz
Noble allows 1:1 liquidity on any asset while holding it in its native state
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7/ In order to enable capital efficiency and high leverage, our settlement layer needs to be lightning fast AND secured in the event of validator error.
To this end we integrate with @EthosStake which enables us to run our own Cosmos L1 secured by @eigencloud
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When launching an appchain, how do you manage bridge risk?
We manage bridge risk by using native asset issuance via @noble_xyz!
Noble works with entities like @circle, @OndoFinance, @fraxfinance and many others to allow for native issuance of their products on Cosmos!
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8/ Cosmos and our own in-consensus oracle system allows us to optimize, avoiding pain points and allowing:
1) Deposits and withdrawals to always be processed
2) The chain to not fail
3) The chain to be insured via slashing
4) No platform wicks that can zero you
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Update on performance of the DMM:
Currently projected APY at 1.2x leverage appears to be around 19% on USDC, just shy of our 20% goal.
To meet your goal next round we will adjust the leverage and also be using a Spark vault in order to earn airdrop points
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The intention was for these funds to always be used as an insurance fund, this is what internal communications have been saying for months, including @klyra's dated investor updates.
We agree we have not been as transparent as we should have been on how the insurance fund works. We are working to change this and make it more apparently
1) How / when fees are applied and with what methodology
2) What split of fees goes to insurance fund vs operations (has historically roughly 90-10)
3) We are also in the process of separating the wallets for each strategy and for the insurance fund. This takes time as you know given all the different positions across multiple chains that need to be unwound and moved.
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Site :
streamprotocol.money
Discord :
discord.gg/FhSNzBgZBf
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DEGENS, WELCOME TO THE GATES OF OUR DISCORD SERVER. PROCEED WITH JOY INTO RFR!
Note: Will answer questions and do AMAs here
discord.gg/QDCVeeRA
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9/ Stream also has its own liquidity system, where users can provide liquidity to perps traders.
Unlike other models, which necessitate either users or LPs losing for the other to win, Stream's model is hedged, and can be positive sum for all involved
This is the "DMM"
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Week 15 Results are here!
Net deposits of $1.8M, or 12% growth WoW.
Most deposits concentrated in USDC.
Total TVL now 19M
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How are Stream's yield products run? How do we beat the market?
This is a question we have gotten a lot recently. Here is a deep dive into what Stream vaults do to earn yield, the logic behind it, and how this allows us to outcompete competitors!
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Faster liquidations --> Safer systems
Internalized / "caught" MEV --> Less costly systems
I have been asked a couple times how the latency of liquidations helps with better LTVs and how it allows protocols to offer users more leverage so I thought I would break it down as simply as possible
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🚨Application process for Open Beta is HERE🚨docs.google.com/forms/d/e/1F…
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Six days until we launch our whitelisted beta! Really happy with our team for bringing us so far in such a short period of time! Shoutout to @JohnKosinski14, @Adonaieth
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The wait is finally over, and our airdrop is here! Our airdrop is based on two key factors: the total
amount and duration of deposits made.
The longer you hold your deposit and
the higher its value, the more
"Stream Points" you'll earn to claim your airdrop.
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By popular demand, Stream's front end now displays total value locked across chains alongside chain-specific TVL!
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Reminder if you deposited more than $10k you qualify for FREE Stream merch! Check our discord for more info, shipping is paid for!
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Stream leverages the security of Ethereum via @EthosStake!
To achieve capital efficiency & high leverage, our settlement layer needs to be lightning fast AND secured in case of validator error
Ethos enables this via EigenLayer, allowing us to easily deploy an L1 powered by ETH
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Bitcoin has a yield problem.
Retail cannot get yield on BTC, yet @coinbase, @galaxyhq and @ambergroup_io offer institutional clients yield on their BTC, often 4-5%, but retail users are denied access.
Stream democratizes access to BTC yield, here is how we do it!
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We have just initiated our first rollover! Deposits into the vault are still live but will be processed next friday! In total, new deposits totaling $1,315,288!
1,143,357.29746 USDC - $1,143,357 in USD
55.95749 WETH - $155,744 in USD
0.31217WBTC - $16,187 in USD
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Given news competitors are pausing their launches, we are going to take another week to brush up our front end, work on our security via penetration tests etc before we do our closed beta, as we want the protect to be pristine.
Target still mid march for public launch.
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