Rain started tapping the window right as a new permissionless market popped up in the Alpha Zone.
Tiny one, barely any liquidity at first, rates jumping around like nobody was really pricing them. I almost scrolled past.
@TermMax
Misread the curator vault next to it—thought the range orders were still wide open, but they’d already tightened overnight.
Those managed ones just sit there steady. People drop in, rates barely twitch.
The open ones fill fast when someone chases a gap, then empty just as quick once the edge disappears.
Watched a few wallets bounce between both.
They load the fixed-rate side when the floating markets elsewhere start looking expensive, then flip out the second the basis tightens.
Activity spikes. Actual sticking around doesn’t.
Honestly not sure if more of these open markets will smooth the rates out or just make the swings sharper between fixed and floating.
Still got that damp spot on the windowsill where the rain’s coming in.#termmax
Tiny one, barely any liquidity at first, rates jumping around like nobody was really pricing them. I almost scrolled past.
@TermMax
Misread the curator vault next to it—thought the range orders were still wide open, but they’d already tightened overnight.
Those managed ones just sit there steady. People drop in, rates barely twitch.
The open ones fill fast when someone chases a gap, then empty just as quick once the edge disappears.
Watched a few wallets bounce between both.
They load the fixed-rate side when the floating markets elsewhere start looking expensive, then flip out the second the basis tightens.
Activity spikes. Actual sticking around doesn’t.
Honestly not sure if more of these open markets will smooth the rates out or just make the swings sharper between fixed and floating.
Still got that damp spot on the windowsill where the rain’s coming in.#termmax