Activity on Voltz Protocol shows most traders expect ether staking yields to rise substantially after the merge. reports godbole17
, traders are actively betting on the expected bump in annualized percentage yield available for tying up ETH in the network.
"By being a Variable Taker, you're buying exposure to the variable rate and selling the current fixed rate on Voltz Protocol," Simon Jones, Voltz CEO and co-founder, told CoinDesk."With so many traders choosing to be VTs, this suggests the vast majority are expecting variable rates [staking yields] to increase substantially from where they are today."
The two-month-old Voltz protocol allows traders to create a market for any variable rate of return. Traders in stETH and rETH pools can swap fixed for variable return and variable for fixed return with leverage merely by depositing ether as margin. Trader do not need to hold stETH or rETH to enter the trade. Traders who swap fixed for a variable are known as Fixed Takers , while those who buy variable rate exposure are referred to as variable takers.
Variable takers can earn a 150% annual percentage yield by taking a levered bet through stETH pools,"If the stETH rate is higher through the pool's term than the fixed rate at the point of entering the pool, the trader will be in the money and will have successfully traded The Merge in one of the most capital efficient ways possible," theVariable takers dominate action in stETH and rETH interest rate swap pools.
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