@monteluna
Can someone call Ameen and tell him @letsgethai was fine?
Turning off the p rate was stupid. It captured vol perfectly fine.
When eth crashed, HAI also crashed and spiked rates. That was the point. It incentivized people to buy HAI or borrowers to think about their loan positions.
The complaint was it took a while for rates to come back down, but it was actually totally fine since the rates were a fraction of perpetual options.
You had a bond with a rate and spot market, and turned it off because a few people didn't read how HAI works. It was actually generating me a ton of cash just buying HAI on every dip and selling once it got to the target price. It was only a matter of time before people figured out how it worked.
https://x.com/i/status/2044518998348571078
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