If you’re reading this, you likely use Metamask and have bridged to different L1s, and couldn’t fathom not knowing what chain you’re on. You need to buy the chain’s token for gas, set your wallet to the correct RPC, etc.. It’s impossible to not be aware of the L1 you’re…

In crypto, when we judge how an investment is performing we tend to just look at spot price. Down = bad, up = good. When we judge whether or not we should LP into something, we tend to think in terms of “impermanent loss”. If you are holding a token…

When you trade an interest rate swap (IRS) on Strips, there are two rates being swapped. Floating rate: the current funding rate at the referenced exchange. This rate is created independently of Strips and is a product of market action at the cited exchange (to learn more about perpetual funding…

Strips evolving into v2 After the first two months of beta launch on mainnet, Strips was able to collect a vast amount of feedback from various market participants. During our beta mainnet operations, the team realised the importance of evolving the whole project, which is why we are embarking on the next iteration of…

Funding rates are what keep perpetuals prices close to the underlying spot price. Typically funding rates for perpetual futures that track the same thing (eg ETH perps, BTC perps) are somewhat similar. But there’s been a large discrepancy on the funding rate for Binance and FTX BTC perps on Strips…

Negative-yielding debt (NYD) refers to any bond where you are paying the borrower for the privilege of lending them money. A completely backwards economic concept that is a recent phenomenon in the history of documented finance. There was estimated to be over $17 trillion of NYD as of 2019, but…

Strips has been building nonstop and is excited to announce details of Strips v2. We are enhancing the infrastructure that underpins Strips’ markets with the most cutting-edge technology DeFi has to offer and expanding our product suite in the process. Here’s some of what’s coming with Strips v2: Fixed-Term Interest…

Who watches the Watchmen, and what’s the funding rate for the markets that track funding rates? Funding rates are a critical component of perpetual futures contracts. Normal futures have an expiration date which forces them to converge with the underlying price of the asset they track. Since perpetual futures have…

The Fed Funds Rate (FFR) is probably the most talked about interest rate in finance. When you hear the media say “the Fed is raising rates” this is what they’re referring to. It’s the rate the Federal Reserve (Fed) sets a range for when it says it’s lowering or raising…