The Business Model of LSTs: Banks, Bribes, and LSTaaS | Adrian & Vance
Bell Curve
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The Importance of Targeting Fees Around Validator Profitability
I kind of love this idea of targeting, you know, or centering fees around validator profitability. I think that could be an interesting avenue, especially with firms like rated that are getting into this and closely partnering with you guys. It's such a difficult problem though, because you like how do you even civil resistance defend your DBT set from the professional node operators if they see that the margins are different? And I think that the, this is why designing a staking router fee markets is such a, so for maker it's actually simpler because it just has to solve for, let's say quote unquote return on equity for the bank. What that objective function is, it has
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