Peaked at #10 Off the board
Borrowing EURC on Aave to short euro
A user borrows EURC at 0.22% on Aave v4 on Arc, shorting the euro and bypassing MiCA rules.
Original post
I am currently living off a EUR loan; I borrow EURC at 0.22% from Aave v4 on the Arc chain: https://t.co/liL48uG47c
That rate is lower than inflation. I am shorting the Euro, which keeps falling (and will continue to fall) against BTC.
I live (and earn—or rather, save) in line with my ideology: "never trust the state or state-issued money."
It has been working for me in the long run.
Naturally, I bypass MiCA regulations, as the entire process is anonymous and requires no KYC.
EU bureaucrats don't like this and want to regulate DeFi!
Of course, no one knows the exact details, since it involves DeFi.
My Claude agent analyzed the smart contracts on the Arc/Ethereum blockchain and the mechanism for minting new tokens, then wrote a DeFi bridge for me from scratch that runs locally on my computer. I have no idea what European bureaucrats will do about that.
In any case, I would argue that the EU is becoming the world's largest financial totalitarian regime.
It is doing everything in its power to prevent you from easily escaping (including pressuring non-EU banks not to open accounts for you).
https://t.co/XxIIhLTcIC
https://t.co/QjdfFYDmlBQuoting @StaniKulechov: Disappointed by the European Central Bank’s (ECB) and European Banking Authority’s (EBA) responses to the MiCA consultation.
They are not only advocating for a prohibition on paying yield on stablecoins, but also for restrictions on CASPs providing access to DeFi, including protocols offering yield on non-MiCA-authorized stablecoins, without providing a clear framework for how access to DeFi shou
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From @Insider6900, @zydus88, @cryptowriter and others. Spam removed, with English and Chinese translations.
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