PiggyBank Takes a 15% NAV Hit After Unwinding a Failed LAB Hedge Trade

TLDR: PiggyBank closed its LAB hedge after negative funding rates made the strategy too costly to maintain. The protocol expects NAV declines of 15% for USDC, 12% for SPYx, and 9% for JitoSOL. Locked LAB tokens valued at $1.35 million will remain excluded from NAV until the August unlock. ZachXBT criticized the trade and renewed [...]

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