A Guide to Yield Farming on Ethereum – ethereumprice
A Guide to Yield Farming on Ethereum – ethereumprice
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Excited to share that we just got listed on StateOfTheDapps! (xpost /r/flowerpatch) If any of y'all are interested in supporting out indie mmorpg farming game, built from scratch on Ethereum, give us some love in the reviews! <3 (link to game in the comments)
Excited to share that we just got listed on StateOfTheDapps! (xpost /r/flowerpatch) If any of y'all are interested in supporting out indie mmorpg farming game, built from scratch on Ethereum, give us some love in the reviews! <3 (link to game in the comments)
Excited to share that we just got listed on StateOfTheDapps! (xpost /r/flowerpatch) If any of y'all are interested in supporting out indie mmorpg farming game, built from scratch on Ethereum, give us some love in the reviews! <3 (link to game in the comments)
Excited to share that we just got listed on StateOfTheDapps! (xpost /r/flowerpatch) If any of y'all are interested in supporting out indie mmorpg farming game, built from scratch on Ethereum, give us some love in the reviews! <3 (link to game in the comments)
The best place to swap & farm DeFi coins, offering Triple Yield for Liquidity Providers - powered by CRO https://i.redd.it/40scld56chm51.gif DeFi Swap went live on the Ethereum Mainnet today. DeFi Swap is the best place to swap & farm DeFi coins, powered by CRO. With DeFi Swap, Liquidity Providers (LP’s) are generously incentivized for contributing to liquidity pools with Triple Yield: Swap Fee Sharing: LP’s will be rewarded by sharing 0.3% of the trading volume of respective liquidity pools. CRO DeFi Yield: for LP’s who also stake CRO: LP’s can stake CRO to boost their yield by up to 20x and harvest the daily yield in as little as 30 days. Bonus LP Yield: for LP’s of selected pools: LPs will receive tokens redeemable for additional coins of participating DeFi projects How can I start farming? Start farming now at https://crypto.com/defi/swap and become a Liquidity Provider by using any WalletConnect-enabled mobile wallet (coming soon on Crypto.com DeFi Wallet) What are the launch incentives? Crypto.com will guarantee a minimum reward pool of 14,000,000 CRO for the first 14 days (1,000,000 CRO per day). What coins are supported?At launch, users can swap between any two supported tokens including some of the most popular Cefi and Defi tokens:
(Wrapped) Ether (WETH)*;
USD Coin (USDC);
Crypto.com Coin (CRO).
We will introduce more tokens in the future and welcome suggestions from the community via our web app & social media channels. What projects are supporting Bonus LP Yield? We will announce new partnerships in the coming weeks. Where can I check the yield levels? Please visit Crypto.com/defi/swap Useful Links:
Things I have learned along the way in Cryptocurrency spaces - My Guide to help others succeed
I thought I would write this up to help any newcomers or anyone interested in learning some new perspectives and ethics that keep me grounded and excited in this revolutionary era of crypto and decentralized currency we are currently living in. I am not by any means an expert but I do have my own code I stick by within this space. Hopefully this is enlightening for some, although some may think these points are common sense. Really this is my foundation that makes me feel comfortable and confident in my judgement when investing into great cryptocurrency projects...
Do your best to suppress the FOMO urges and mindsets and also try not to DOMO (dwell on missing out) these feelings are negative, self defeating and will just cause anyone a lot of irrational unnecessary stress. Who cares if Joe Blow dumped 300 hundred dollars into some random new "shit coin" and made millions! Good for him, it was a one off and this isnt about his future its about yours. Chanting "Coulda woulda shouldas" is not the disposition to have when wanting to invest in cryptocurrency.
Anytime is a usually a good time to start investing in cryptocurrency. Pick a good reputable exchange to start with and test it out.
Find projects you like. Look for the positive ethics and innovation behind the project and also who the creators and custodians of the projects are. Some of them are really interesting people who follow a code of their own ethics.
DD or Due Diligence applies to crypto/defi projects similar as it does to investing in the stock market. Investigate. Gather as much information on a specific project you are interested in is probably the biggest attribute to having success and watching your finances grow.
Is the crypto technology improving or innovating something that benefits people or the space?
Does the project promote positive community values and growth opportunity?
Are the management teams behind the projects talented and of good character?
Does the crypto have a good foundation to thrive off of as it grows?
These are the main things I look for when doing my DD on any crypto.
When you research your chosen projects dig deep and be cautious of crazy hype promotions or biased articles on "These next 3 big cryptos and defi will moon in 2021!!!!1" Trust your research and sound judgement based on the facts not on knee jerk emotions ****this is actually really hard for me sometimes because I get really emotional when it comes to things I am passionate about but having a logical mindset will reward you and then you can be emotional and cheer about it later when you see your gains.
Have a solid financial foundation when you decide to invest in multiple crypto. I tend to keep the majority of my capital in Ethereum as it is a proven product with a great track record that many other cryptos rely on...it isn't going anywhere. Stability is a helpful tool. That said, it is good to diversify and try fledgling projects for great opportunities and it doesn't matter how little you invest - testing the waters is a great way to get an idea of how the project will start to perform.
We hear this one a lot: "JUST HODL!" while holding is great so is variety and trading at certain times. Be on the lookout for indicators relating to the crypto market fluctuations such as a passing vote, public announcements from the managing teams and exchanges, new tech or software upgrades, even world events that could effect the value of the crypto you want to buy hold or sell. These are indicators or catalysts to always be looking for and will help you make better buying selling and trading choices with crypto.
"dont spend what you cant afford to lose" we see this a lot as well and while it is a good rule to follow, sometimes by taking risks we are greatly rewarded. So I say to this, yes follow that rule but also expand and evolve as crypto holder. This will mean taking some risks and then following the previous mentioned principles to mitigate that risk further.
Cutting losses. This is a tough one. Everyone has their own stop loss ideology or limit to which they feel they can tolerate. I would say if you were going to cut your losses do it for a reason that makes sense. A coin drops %30 percent today...that isnt a good reason. The reason is why did it fall that 30%, is it the market? Some sort of halving event, just the market is constantly ebbing and flowing. The point I am getting to is try to avoid rash decisions simply based on a percentage loss. Find the truth behind it and then act accordingly based on the facts. I have held through countless drops in the last several months and usually it just takes a bit of time to wait out the market re-calibrations and corrections as most of the time these bounce back and even better than before.
I think the most important rule of all is again, remember to have fun. Even when I see I am down for the week it just gets me excited for the next or even a potential buy opportunity on the dip. It is a chaotic up and down game. But if you can find some comfort and reason within that, then it can be really exciting and rewarding. Have fun and be passionate in the projects you believe will succeed, knowledge share and teach others things you have discovered. Passing on valid information can help others be successful and that is often a key component of a project becoming reliable and strong. Great crypto communities backing a good crypto project go hand in hand. support each other and drive for success this can and will most certainly create some MOONS in the process.
Good hunting to everyone and I wish you all great wealth in your endeavors! EDIT: just some food for thought regarding the crypto and defi markets today: It seems the defi and crypto markets are in the shit right now. I think there are several catalysts as to why FLM has dropped almost 50%, the problems with NEO/FLM and the postponed yield farming... plus there has likely been big sell offs of the "Free" FLM tokens and other holders followed suit, panic selling. This may lead to lowered volumes and less buying. There is also a connection to the drop in the rest of DEFI tokens (UNI especially) etc because of the KuCoin hack and a combination of lower yields on other DEFI apparently have people a bit bearish. (did some research on what was going on with the market taking a nosedive - if anything now is a good time to be buying in my opinion.) Things will look up though, I am pretty sure as it always does, its like riding the wave. I plan to hold my crypto regardless.
This Project is about to be huge. One of the only fair distributions I've seen. The Team communicates extremely well. The tokenomics make this thing have a bunch of potential. Yield Farming comes out tomorrow. Most Yield Farming dilutes holders, but this doesn't. There's so many reasons i'm excited about this thing but I'll share some of the resources below and you guys can DYOR. Y-Men ! We have great news for you. The official farming begins at block 10849177. This corresponds to around 9:30 pm CEST tomorrow give or take depending on the average block time of the Ethereum chain. The official name of the farming coin is MUTANT. Here are the pools available initially:
Eth 2.0 vs Polkadot and other musings by a fundamental investor
Spent about two hours on this post and I decided it would help the community if I made it more visible. Comment was made as a response to this
I’m trying to avoid falling into a maximalist mindset over time. This isn’t a 100% ETH question, but I’m trying to stay educated about emerging tech. Can someone help me see the downsides of diversifying into DOTs? I know Polkadot is more centralized, VC backed, and generally against our ethos here. On chain governance might introduce some unknown risks. What else am I missing? I see a bunch of posts about how Ethereum and Polkadot can thrive together, but are they not both L1 competitors?
What else am I missing?
The upsides. Most of the guys responding to you here are full Eth maxis who drank the Parity is bad koolaid. They are married to their investment and basically emotional / tribal in an area where you should have a cool head. Sure, you might get more upvotes on Reddit if you do and say what the crowd wants, but do you want upvotes and fleeting validation or do you want returns on your investment? Do you want to be these guys or do you want to be the shareholder making bank off of those guys? Disclaimer: I'm both an Eth whale and a Dot whale, and have been in crypto for close to a decade now. I originally bought ether sub $10 after researching it for at least a thousand hours. Rode to $1500 and down to $60. Iron hands - my intent has always been to reconsider my Eth position after proof of stake is out. I invested in the 2017 Dot public sale with the plan of flipping profits back to Eth but keeping Dots looks like the right short and long term play now. I am not a trader, I just take a deep tech dive every couple of years and invest in fundamentals. Now as for your concerns:
I know Polkadot is more centralized
The sad truth is that the market doesn't really care about this. At all. There is no real statistic to show at what point a coin is "decentralized" or "too centralized". For example, bitcoin has been completely taken over by Chinese mining farms for about five years now. Last I checked, they control above 85% of the hashing power, they just spread it among different mining pools to make it look decentralized. They have had the ability to fake or block transactions for all this time but it has never been in their best interest to do so: messing with bitcoin in that way would crash its price, therefore their bitcoin holdings, their mining equipment, and their company stock (some of them worth billions) would evaporate. So they won't do it due to economics, but not because they can't. That is the major point I want to get across; originally Bitcoin couldn't be messed with because it was decentralized, but now Bitcoin is centralized but it's still not messed with due to economics. It is basically ChinaCoin at this point, but the market doesn't care, and it still enjoys over 50% of the total crypto market cap. So how does this relate to Polkadot? Well fortunately most chains - Ethereum included - are working towards proof of stake. This is obviously better for the environment, but it also has a massive benefit for token holders. If a hostile party wanted to take over a proof of stake chain they'd have to buy up a massive share of the network. The moment they force through a malicious transaction a proof of stake blockchain has the option to fork them off. It would be messy for a few days, but by the end of the week the hostile party would have a large amount of now worthless tokens, and the proof of stake community would have moved on to a version of the blockchain where the hostile party's tokens have been slashed to zero. So not only does the market not care about centralization (Bitcoin example), but proof of stake makes token holders even safer. That being said, Polkadot's "centralization" is not that far off to Ethereum. The Web3 foundation kept 30% of the Dots while the Ethereum Foundation kept 17%. There are whales in Polkadot but Ethereum has them too - 40% of all genesis Ether went to 100 wallets, and many suspect that the original Ethereum ICO was sybiled to make it look more popular and decentralized than it really was. But you don't really care about that do you? Neither do I. Whales are a fact of life.
VCs are part of the crypto game now. There is no way to get rid of them, and there is no real reason why you should want to get rid of them. They put their capital at risk (same as you and me) and seek returns on their investment (same as you and me). They are both in Polkadot and Ethereum, and have been for years now. I have no issue with them as long as they don't play around with insider information, but that is another topic. To be honest, I would be worried if VCs did not endorse chains I'm researching, but maybe that's because my investing style isn't chasing hype and buying SUSHI style tokens from anonymous (at the time) developers. That's just playing hot potato. But hey, some people are good at that. As to the amount of wallets that participated in the Polkadot ICO: a little known fact is that more individual wallets participated in Polkadot's ICO than Ethereum's, even though Polkadot never marketed their ICO rounds due to regulatory reasons.
generally against our ethos here
Kool aid. Some guy that works(ed?) at Parity (who employs what, 200+ people?) correctly said that Ethereum is losing its tech lead and that offended the Ethereum hivemind. Oh no. So controversial. I'm so personally hurt by that. Some guy that has been working for free on Ethereum basically forever correctly said that Polkadot is taking the blockchain tech crown. Do we A) Reflect on why he said that? or B) Rally the mob to chase him off?
Also Parity locked their funds (and about 500+ other wallets not owned by them) and proposed a solution to recover them. When the community voted no they backed off and did not fork the chain, even if they had the influence to do so. For some reason this subreddit hates them for that, even if Parity did the 100% moral thing to do. Remember, 500+ other teams or people had their funds locked, so Parity was morally bound to try its best to recover them. Its just lame drama to be honest. Nothing to do with ethos, everything to do with emotional tribalism. Now for the missing upsides (I'll also respond to random fragments scattered in the thread):
This isn’t a 100% ETH question, but I’m trying to stay educated about emerging tech.
A good quick intro to Eth's tech vs Polkadot's tech can be found on this thread, especially this reply. That thread is basically mandatory reading if you care about your investment. Eth 2.0's features will not really kick in for end users until about 2023. That means every dapp (except DeFI, where the fees make sense due to returns and is leading the fee market) who built on Eth's layer 1 are dead for three years. Remember the trading card games... Gods Unchained? How many players do you think are going to buy and sell cards when the transaction fee is worth more than the cards? All that development is now practically worthless until it can migrate to its own shard. This story repeats for hundreds of other dapp teams who's projects are now priced out for three years. So now they either have to migrate to a one of the many unpopulated L2 options (which have their own list of problems and risks, but that's another topic) or they look for another platform, preferably one interoperable with Ethereum. Hence Polkadot's massive growth in developer activity. If you check out https://polkaproject.com/ you'll see 205 projects listed at the time of this post. About a week ago they had 202 listed. That means about one team migrated from another tech stack to build on Polkadot every two days, and trust me, many more will come in when parachains are finally activated, and it will be a complete no brainer when Polkadot 2.0 is released. Another huge upside for Polkadot is the Initial Parachain Offerings. Polkadot's version of ICOs. The biggest difference is that you can vote for parachains using your Dots to bind them to the relay chain, and you get some of the parachain's tokens in exchange. After a certain amount of time you get your Dots back. The tokenomics here are impressive: Dots are locked (reduced supply) instead of sold (sell pressure) and you still earn your staking rewards. There's no risk of scammers running away with your Ether and the governance mechanism allows for the community to defund incompetent devs who did not deliver what was promised.
Wouldn’t an ETH shard on Polkadot gain a bunch of scaling benefits that we won’t see natively for a couple years?
Yes. That is correct. Both Edgeware and Moonbeam are EVM compatible. And if the original dapp teams don't migrate their projects someone else will fork them, exactly like SUSHI did to Uniswap, and how Acala is doing to MakerDao.
Although realistically Ethereum has a 5 yr headstart and devs haven't slowed down at all
Just because it's "EVM Compatible" doesn't mean you can just plug Ethereum into Polkadot or vica versa, it just means they both understand Ethereum bytecode and you can potentially copy/paste contracts from Ethereum to Polkadot, but you'd still need to add a "bridge" between the 2 chains, so it adds additional complexity and extra steps compared to using any of the existing L2 scaling solutions
That only applies of you are thinking from an Eth maximalist perspective. But if you think from Polkadot's side, why would you need to use the bridge back to Ethereum at all? Everything will be seamless, cheaper, and quicker once the ecosystem starts to flourish.
I see a bunch of posts about how Ethereum and Polkadot can thrive together, but are they not both L1 competitors?
They are competitors. Both have their strategies, and both have their strengths (tech vs time on the market) but they are clearly competing in my eyes. Which is a good thing, Apple and Samsung competing in the cell phone market just leads to more innovation for consumers. You can still invest in both if you like. Edit - link to post and the rest of the conversation: https://www.reddit.com/ethfinance/comments/iooew6/daily_general_discussion_september_8_2020/g4h5yyq/ Edit 2 - one day later PolkaProject count is 210. Devs are getting the hint :)
Paid revenant protection clans promote more Rule-breaking than commission staking & they use anti-competitive tactics to protect their regime.
** Note that this isn't a thread focused on occupying revenant worlds with a clan, rather about those who offer paid protection services. Tl;DR (all sections elaborated on, surf through bolded/underlined headers): -Paid protection promotes anti-competitive tactics to protect these worlds, focused on "boring" pkers on these worlds into leaving, or by making them less profitable to raid. -Paid protection leaders often RWT with proceeds, whilst running a service that generates high amounts of GP (in the form of alchables) into the RWT market -Paid protection allows for low barrier entry of gold farming (don't have to deal with pkers, don't have to learn vorkath, zulrah etc) -Paid protection breaks the pker>resource collector>resource collector hierarchy by discouraging pking on these worlds on multiple levels -Paid protection can be considered against the spirit of the game for ironmen, a common user of these services -Paid protection is encouraging a creep towards maximizing gp generated into the game by rapidly replacing the skulled crossbow worlds where people protect each other, into craws protection protected by dedicated raggers/pkers for a group of worlds. Most drops are convertible directly or indirectly to cash, inflating the economy at rates comparable to pre-eoc EP% system & dupes (math elaborated on towards the end of the post). Anti-competitive things protection clan chats do to discourage pking activity on worlds they're protecting 1)What they call 'Nsing', short for non-stopping. This essentially means gearing up in toxic staff of the dead black d'hide ice barrage with gloves making their risk under 100k, causing them difficult to deal with whilst risking much less than pkers visiting these worlds. The idea is that they're being paid by their cc to frustrate & bore you into leaving worlds they protect. Roundup on why this tactic is difficult to deal with & discourages encounters with worlds they protect: a)They protect range to discourage ranging. b)They pre staff of the dead spec at home fill their special bar with pool & then staff of the dead spec a minute later to discourage meleeing for their tenure at the battlefield c)They reduce accuracy of magic attacks with wielding dragonhides whilst casting, though the main reason is that it provides very cheap protection whilst still being able to hit ice barrage or blood barrage on other peoples' d'hide (try it, you'll be surprised how often it hits on a clump of people). The only times you'll see NSers in robes is when they're using moonclan because they don't want to risk black dragonhide either. d)Pkers are being venomed & frozen the entire time, making people attack these worlds dependent on anti-venoms+ & often making it difficult to get close to them and melee them, though they're staff of the dead speced anyways. e)Pkers are not at all being rewarded fighting these people, they risk very little and take a very long time to kill due to the above. f)NSer’s Phoenix necklaces are reliably broken because melee/range damage is being heavily reduced, while mage is more inaccurate vs dhide, making it possible to offensively tank (no tick delay on attacks when a phoenix necklace is broken). Side tangent: SOTD should be rebalanced such that melee can still be useful in team fights because as it stands P2P clan fighting at mid & top levels has been reduced to barraging eachother with toxic staff of the dead whilst wearing dragonhide until one side gets bored and leaves. High-level fights are often completely void of robes unless it's a planned fight with rules against it, or one side is dominating to the point where they're facing little threat whilst wielding robes. Magic accuracy should also be rebalanced such that casting in low mage bonus vs high mage def is much less accurate, and perhaps compensate with making higher magic bonus more accurate on higher mage def. But that's a story for a different thread. 2)Fining the people who pay for their service when they lose too much on death. This limits incentive of pkers coming to these worlds to kill these pvmers, and is often predatory towards pvmers. As a side-note it also acts as an additional source of money as fines are often invoked due to lack of PvP skill of the people paying for these services. Weapons intended to be protected on death are lost due to being smited, or ancient maced by teams. This leads into the next point. If these fines aren't paid, the purchaser of the service is disallowed to complete the rev cave time they purchased. In the case of less courteous clan chats, they wait until the purchaser buys more time and scam the next buy-in because they didn't comply with the rules. 3)As customers of these clan chats increasingly lean towards being gold farmers, overall PvP skill tends to drop. This has led some of these clan chats to disallow pvming with skulled rev weapons entirely, only allowing you to skull if your protected item is a salve amulet(ei) (a protected item that if pkers smite or mace, gives the pkers killing them receive negligible gold). This is to limit the incentive of pkers coming to these worlds to kill these pvmers. 4) It’s becoming more commonplace for streamer pkers to be hunted, ragged and threatened IRL if they attack these ‘protected worlds’. Dino_xx, a revenant pking streamer was recently sent in-real-life threats after repeatedly attacking some of these worlds. Sparc_mac was also recently targeted by a coalition of protection clans, whilst telling him to “off total worlds”. Essentially when he streams, these total world protection clans all get into the same cc to have massive numbers and go after Sparc Mac, and other groups attacking their worlds. Streamers and entry-level clans are most preyed on because it is fairly easy to acquire their locations and worlds. This not only discourages the streamers and people looking to pk with the streamer, but also hinders entry-level clanning if that clan decides to attack pvmers on these protected worlds. They get targeted and ragged until they agree to stop pking on the total worlds and some of the non-total world protection clans. Leaders & customers often RWT the proceeds To understand why it’s so lucrative for citizens of some countries to gold farm on Runescape, you’ll have to understand how much playing runescape earns compared to a regular minimum wage job in their country. In january of 2020, the minimum MONTHLY wage for Venezuelans was increased by 67% to…. the equivalent of $3.61 USD. Gold farming on Runescape can earn you that in just 2-3hours of protected revenant cave pvming. This is a vastly superior method of working a traditional job in some settings, increasing the incentive of learning to gold farm revs and other npcs. There are 2 hubs of RWT in these clan chats. 1) The most obvious scheme of how these clans are involved in RWT is the pvmers being mostly venezuelans paying their buy-in, generating the cash, and selling the gold. 2) The less obvious avenue of RWT is that the ranks of the clan often convert their share of the buy-ins (often called the ‘pot’) into real life cash so that the time investment of protecting pvmers on Runescape can rival working a traditional job. A portion of pvmer buy-ins are being RWTed by ranks, the proceeds of the pvmers killing revs mostly gets RWTed. The entirety of these paid protection clans have gold farming for real life cash at the centre and purpose of their operation. Paid Revenant Protection clans allow for low barrier of entry of gold farming. People looking to make a living pvming on Runescape have to consider mastering mechanics of the NPC they’re looking to farm. Vorkath and Zulrah are methods that can be out of reach for some players looking to make a living playing runescape due to inexperience at Runescape or inexperience at playing games at all. With the current state of revenants, you can be very nooby and just click on the revs without having to think about taking damage or preparing for any sort of complex mechanics that bosses traditionally have. This massively reduces the barrier of entry to gold farm on Runescape, and contributes to people teaching others who’ve never even played games how to get involved. The lack of pkers attacking these worlds because of the anti-competitive methods mentioned above also contributes to reducing dangers involved in being in the wilderness making high end gp/hr. Paid Revenant protection breaks the wilderness “food chain” The traditional hierarchy of activity in the wilderness usually manifests itself as pkers>resource collector>resource. In the case of revenant protection clans, this gets fundamentally broken by the fact that pkers are protecting the resource collectors, and other pkers are increasingly discouraged to kill these resource collectors (related to the anti-competitive section). Ironmen are using protection services despite being an interaction restricted mode A large portion of the remaining non-gold farming service purchasers are ironmen looking to get relatively easy resources, cash and revenant weapons. This can aid in bypassing cash grinds (battlestaves,dragon/rune pieces etc), resource grinds(planks, bars for darts, manta ray, super restores, bolt tips, magic seeds) and facilitate late-game pet hunting with the farmed revenant weapons. It’s so lucrative that it’s an excellent alternative for ironmen to level up construction, crafting and smithing from the drops whilst obtaining other important resources, weapons and cash. Ironmen tend to condense towards higher skill total protection and are commonly price gouged because there are no other viable alternatives for solo players in the current state of revenant caves. Ironmen & even normal accounts not purchasing the services have also been crowded out of revenant caves. Almost all of the worlds, including the new ones added during the corona pandemic are occupied by protection clans, leaving little space for a solo player to farm revs. For ironman specifically, there is no longer a viable way to “earn” the rev weapons without purchasing protection or having a group of people dedicated to protecting you, both of which some consider against the spirit of the game-mode. Revenant protection clans increase the efficiency at which gold is generated Revenants have always been a massive contributor to Runescape gp inflation. Let’s take a look at the item drops. I’m going to classify the drops into different categories: Uniques, Direct GP, Indirect GP, No GP. Uniques Amulet of Avarice, Craw’s bow, Viggora’s Chainmace, Thammaron’s Sceptre These don’t currently contribute much to GP inflation, but there is a scenario where they can be a significant contributor - the Thammaron’s Sceptre is an example of this. The Thammaron’s Sceptre is a fairly unorthodox weapon compared to other staves people use to PK with. However, recently it was changed so that it could be dismantled for 7.5K ether. This leads to a scenario where ether could drop, causing less people to dismantle ethereum bracelets and alch them instead, injecting more gold into the game rather than the ether alternative. I don’t think this scenario is that impactful given the rarity of rev weapons, but at a certain price point these rev weapons become Indirect GP. The amulet of avarice is also approaching alchable price (45k), due to having little popularity in its use of skulling, and the lack of skulling on protected worlds in general. If that happened, it would be a slight addition to the direct gp category. Direct GP(including alchables) All ancient items that are tradeable for gold (this is the bulk of the value of expected drops from revs) Rune armour, ethereum bracelets, rune warhammer, dragon weapons, dragon armor. Indirect GP Coal, runite ores, adamant/runite bars, yew/magic logs, black dragonhides, onyx bolt tips are all typically made into an alchable item as the final product. The exception to this is adamant and runite darts. No GP Mahogany planks don’t inject gp into the game, but they deny gp from exiting the game via replacing plank making (logs+gp). Uncut dragonstones are No GP, but a 2-3k price drop will make glory amulets alchable. Blood, law, death runes are No GP but deny money from exiting the game via shops. This leaves manta rays, magic seeds, super restores (4), dragonstone bolt tips, revenant cave teleport as the only rev drops that don’t, or won’t contribute to rapid gp inflation. After the initial rev release, most worlds had a few people pvming on them, often solo or in groups of other skulled crossbow pvmers that would protect each other. Protection clans started popping up and holding worlds to sell protection on, killing/ragging pkers that went to their worlds and making sure people who weren’t paying couldn’t pvm on that world. In the past 6 months, almost every single world has been taken by a type of revenant killing cc. These typically come in 2 flavours: 1) self-protection - a group of people pvming skulled with crossbows who hit people not in their cc, but are generally ineffective against experienced pkers. 2) paid protection - the type we’ve focused on until now, the ones that protect craws bows/viggora’s maces while they pvm. Not only has almost every single world been saturated with tenants who claim to own those worlds, but they are rapidly converting from self-protection to paid-protection, maximizing the amount of gold that can be generated per world. The gp/hour of skulled rune crossbow(self protection) ranges from 500k-2M/hr (rough estimate), depending on range level and saturation of the world. The gp/hour of unskulled craws bow(paid protection) increases to a staggering 3-3.5M/hour. As these self protections worlds continue to convert to paid protection worlds, the amount of gp/world being pumped in, continues to increase. A saturated paid world typically shelters about 8-12 pvmers, we’ll call it 10 to make the math easier to follow, and use the 3m/hour figure to see how much each of these worlds are pumping out. There are currently 150 P2P servers. These servers are about 35-50% paid protection, with the vast majority, or all of the rest being self protected worlds. We’re going to use a conservative estimate of 35% paid protection, 50% self protected, 15% unoccupied to calculate how much is currently being generated per day. A single world, if saturated 24hours would generate 3m(gp/h) * 24(hours in a day) * 10(amount of pvmers) = 720M GP Estimating a current 52 worlds being paid protection (35%, rounded down) that’s 37.4B per DAY being generated into the game from just paid worlds, the majority of it being cash convertible. If 75 of the servers are self protected, using a very conservative 1m/hr & 10 pvmer saturation, that brings in an additional 75 * 1m * 24 * 10= 18B per DAY For the sake of simple math, we’re just going to assume that the rest of the worlds are completely vacant 24/7, obviously not being the case. A very conservative estimated of 55B (likely, most rwted) is being injected into the game from revs per day, and that number is going to continue to increase as paid protection worlds continue to take over self-protected worlds. If every P2P world were paid-protection, there would be more than 100B being injected into the game per day from only rev caves *note that this does not include skulled craws pvming that some paid services offer, which is 4.5-5.5m/hour. Every day that the current state of revenant caves is allowed to continue, our relative gp buying power is diluted as more and more gp enters the game. Proposed Solutions Here are some potential solutions that could minimize the mounting adverse effects of revenant cave pvming, without doing too much harm to team/clan activity. Remove Skill total worlds from being pvmable in the revenant portion of revenant caves, perhaps in the same manner as done on w45 deadman (only ether and ethereum bracelet drops), or they could be made untargetable/just not be there at all. These worlds currently make up almost half of paid pvm worlds and are the main setting for toxic staff rag mage vs any pkers who try pking the pvmers. They provide the biggest imbalance of pkers being able to access the world relative to people being able to pvm. They generate the most gold by far due to being much less accessible by pkers looking to raid them. Make paid revenant protection (revenant racketeering?) punishable. This is a very easy solution to implement and will knock out most of the gold farmers. People won’t feel comfortable using the ccs, making the ccs, or maintaining the ccs if it is clearly against the rules, much like commission staking. There are too many pieces to starting a revenant protection service for a paid protection service to operate underground. Make ragging less feasible, likely focused on nerfing toxic staff, nerfing maging with negative/low mage accuracy vs hides & removing phoenix necklace mitigating buffered damage during a phoenix necklace break. There should also be a set delay on when you can attack after a phoenix necklace is broken, making them only useful to be defensive and not a way to heal without suffering tick delay from food. A minimum risk of 150-300k could also be added to enter revenant caves These solutions aim to reduce most of the gold farmed money being pumped into the game, whilst giving a place for small man teams & clans to pk without being ragged for raiding the wrong world. We’ll likely see a restoration of a mix of skulled crossbow worlds and worlds of solo unskulled blowpipe and craws. A minimum risk to enter the cave would also encourage more people to bring craws over rag blowpipe, giving teams something worth raiding worlds for. Feel free to post your feedback, I’m curious to hear what others think about the current state of the revenant caves & your own potential solutions.
Current Hashrate much lower than reported (Ethermine)
Hello to all, i am a big newbie and i want to make an investment into buying a mining rig. So i tried to farm with my gaming pc just to see how is it done and then buy my rig. I have a GTX 1070 and with a little tweeks with MSI afterburner i have ~29 MH/s reported hashrate. Ethermine pool with claymore miner and i mine Ethereum. Although Ethermine's pool give me a current arroun 20 Mh/s......... 30 % lower!!!! Ok i know that you lose some from fees and some from network latancy but i have no stale shares.Also why my reported hash rate got to zero 3 times? Why there is this big gap? If i buy a rig with 6 5700xt that i want ~ 300Mh's will i have the same problem? Also btw, electricity cost is about 0.07$ .What are your opinion? Should i invest in buying this rig? https://preview.redd.it/tll4i25d9an51.png?width=1233&format=png&auto=webp&s=972eb4389488f15b88fe9c73b4b387329e0308a3
Necessary Disclaimer: no rule breaking intended. No price manipulation intended. I only want to share verifiable facts/links and my analysis. If I am doing anything against the rules please let me know and I will do my best to fix it ASAP. I trade crypto, including LINK, and I am currently short on LINK. This is not financial advice; this is just for my own record and to start a discussion for anyone who might want more transparency around LINK.
I believe there is a lot of misinformation, uncertainty, and unanswered questions about the LINK token, the Chainlink ecosystem, the SmartContract parent company. I also believe that LINK's current price is unjustified based on fundamental factors like usage/business case/current customers/future potential. So I'm raising some points and asking some questions. What is this post? Why should I care? How do I use it? Read or skim it. It's about the LINK token, the Chainlink ecosystem, and the parent company SmartContract. It's about why I believe the price of the LINK token may be currently driven mostly by hype and not backed by standard market fundamentals like usage/economics. Update 9 AUG: reorganizing, rewriting this post and moving supporting data/sources into "appendix" comments below on this post. The previous versions of this post and my comments elsewhere were too emotionally charged and caused more division rather than honest, evidence-based, productive discussion and I sincerely apologize for that. I have now rewritten it and will continue to update it.
Threshold signatures, staking, on-chain SLAs: How real are these, is there a roadmap, how will this benefit users, is there any evidence of users currently *wanting* to use chainlink but needing these features and actively waiting for Chainlink to launch these? Staking: for there to be a valid incentive for users to stake LINK, it has to return around 5% annually because anything substantially under that would have users putting their money elsewhere (https://www.stakingrewards.com/cryptoassets) (not counting speculative capital gains in terms of LINK's price, but price gain per token/coin applies to all other crypto projects as well). Currently, for stakable cryptos, around 30-80% of their total supply is staked, and a good adjusted reward is on the order of 5% as well (some actually negative, some 10%+). The promise of staking incentivises people to buy and hold more LINK tokens (again, many other crypto projects have staking already live). That 5% reward will ultimately have to come from the customers who pay Chainlink oracle nodes to use their services, so it's an extra 5% fee for them. Of course, in the near future, the staking rewards *could* be subsidized by the founders' reserve wallets. Threshold signatures: addressed below in a comment. On-chain SLAs: [TODO] Here's supposedly Chainlink's agile/project planning board. (TODO: verify that it is indeed Chainlink's, and then analyse it) https://www.pivotaltracker.com/n/projects/2129823
I manually traced EVERY single inbound transaction/source of funds for the above 4 (not counting #1 as 10 LINK is negligible). 2 & 3 are 99.99%+ genesis-funded, being ACTIVELY topped up by a genesis wallet, last tx 4 days ago, 500,000 LINK. #4 has been funded 36 times over the past year and a half (that's 36 manual exports and I did them all). They all come from the 0x27158..., 0x2f0acb..., and https://etherscan.io/token/0x514910771af9ca656af840dff83e8264ecf986ca?a=0x1f9e26f1c050b5c018ab0e66fcae8e4394eb0165 (another address like the 0x2f0acb that I went through and checked EVERY SINGLE inbound source of funds, and it's also >99.9% genesis-funded - one tx from Binance for 6098 LINK out of a total ~6,560,000 inbound LINK from genesis wallets), and two other addresses linked to Binance (0x1b185c8611d157a67d9a9d5261b0d2bd52c0bb78, 10,000 LINK and 0x039ac18afe298747c51c85e7c8f0d67c327f3883, 1,000,000 LINK) The 0x039ac... address funded the "Chainlink: Aggregator" address with 127,900 LINK, and the 0x1b185... with about ~9,600 LINK). So yes, it's technically possible that someone not related to Chainlink paid for the ETH / USD price feed because some funds do come from Binance. However, they only come from two distinct addresses. Surely for "240+" claimed partnerships, more than TWO would pay to use Chainlink's MOST POPULAR price feed? That is, unless they don't pay directly but to another address and then Chainlink covers this one from their own wallets. I will check if that's in line with Chainlink's whitepaper, but doesn't that throw doubt on the whole model of end-users paying to use oracles/aggregators, even if it's subsidized? I provide you this much detail not to bore you but to show you that I went through BY HAND and checked every single source (detailed sources in Appendix B) of funds for the OFFICIAL, Chainlink-listed "ETH/USD" aggregator that's supposedly sponsored by 10 DeFi partners (Synthetix, LoopSpring, OpenLaw, 1inch, ParaSwap, MCDEX, FuturesSwap, DMM, Aave, The Force Protocol). Yet where are the transactions showing that those 10 partners have EVER paid for this ETH/USD oracle? Perhaps the data is there so what am I missing? This ETH/USD aggregator has transferred out ~76,000 LINK to I guess the data providers in increments of .33 LINK. It has 21 data providers responding. I will begin investigating the data providers themselves soon. And those middle addresses like 0x1f9e26... and 0x2f0acb...? They have transferred out hundreds of thousands if not millions of LINK to exchanges. And that's just ONE price pair aggregator. Chainlink has around 40 of these (albeit this one's one of the more popular ones). SNX / ETH aggregator is funded 100% by genesis-sourced wallets, only 3 inbound transactions: https://etherscan.io/token/0x514910771af9ca656af840dff83e8264ecf986ca?a=0xe23d1142de4e83c08bb048bcab54d50907390828 Some random examples (for later, ignore these for now) *********** https://etherscan.io/token/0x514910771af9ca656af840dff83e8264ecf986ca?a=0x039ac18afe298747c51c85e7c8f0d67c327f3883 bought 1,000,000 LINK from Binance in Sept 12 & 15, 2019. (one of the possible funding sources for the ETH / USD aggregator example above) This address got 500,000 LINK from 0x27158... and has distributed them into ~5-10,000 LINK wallets that haven't had any out transactions yet https://etherscan.io/token/0x514910771af9ca656af840dff83e8264ecf986ca?a=0x5bcf3edc0bb7119e35f322ba40793b99d4620f1e ************** Another example with an unnamed aggregator-node-like wallet that was only spun up 5 days ago, Aug 5: https://etherscan.io/token/0x514910771af9ca656af840dff83e8264ecf986ca?a=0x2cbfd29947f774b8cf338f776915e6fee052f236 It was funded 2,000 LINK SOLELY by the 0x27158... wallet and has so far paid out ~500 LINK in 0.43 LINK amounts to 9 wallets at a time. For example, this is one of the wallets it cashes out to: https://etherscan.io/token/0x514910771af9ca656af840dff83e8264ecf986ca?a=0x64fe692be4b42f4ac9d4617ab824e088350c11c2#tokenAnalytics That wallet extremely consistently collects small amounts of LINK since Oct 2019. It must be a data provider because a lot of Chainlink named wallets pay it small amounts of LINK regularly. It has transferred out 20 times. The most recent transfer out: https://etherscan.io/token/0x514910771af9ca656af840dff83e8264ecf986ca?a=0xc8c30fa803833dd1fd6dbcdd91ed0b301eff87cf which then immediately transferred to the named "1inch.exchange" wallet, so I assume this was a "cash-out" transaction. It has cashed out via this address a lot. Granted, it also has transfer-out transactions that haven't (yet) ended up in an exchange wallet, eg https://etherscan.io/token/0x514910771af9ca656af840dff83e8264ecf986ca?a=0x88e5353a73f38f25a9611e6083de6f361f9b537b with a current balance of 3000 LINK. This could be a user's exchange wallet, ready to be sold, or could be something else. No way for me to tell as there are no out txs from it.
LINK overall transaction, volume, and tx fees
This is to understand how much $ moves through the LINK ecosystem through: nodes, data providers, reserve wallets, wallets linked to exchanges, others. A typical aggregator node tx (payout?): https://etherscan.io/tx/0xef9e8e6dd94ebe9bbac8866f18c2ea0a07408ced1aa77fa04826043eaa55e772 This is their ETH/USD aggregator paying out 1 LINK to each of 21 addresses. Value of 21 LINK ~= $210. Total eth tx fees: .233 ETH (~$88.5, ~42% of the total tx value. If LINK was $4.2 instead of $10, the tx fees would be 100% of the value of the tx). Transactions like this happen every few minutes, and the payout amounts are most often 0.16, 0.66, 1.0, and 2.0 Link. Chainlink’s node/job listing site, https://market.link, lists 86 nodes, 195 feeds, 801 jobs, ~1,080,000 job runs (I can’t tell if this is over the past 2 months or 1.5 years). Only 20 nodes have over 1000 job runs, and 62 nodes have ZERO runs. Usual job cost is listed as 0.1 link, but the overall payout to the nodes is 10-20 times this. The nodes then cash out usually through a few jump addresses to exchanges. Some quick maths: (being generous and assuming it’s 1mil jobs every 2 months = ~6mil link/year = $60,000,000 revenue a year. This is the most generous estimate towards link’s valuation I’ve found so far. If we ignore the below examples where on multi-node payouts the tx fees are more than the node revenue itself, then it’s almost in line with an over-valued (but real) big tech company. For example, one of the latest CHF/USD job runs paid 0.1 LINK to 9 addresses (data providers?) - total $14.4 payout - and paid 0.065 ETH ($24.5) in fees. That’s a $10.1 LOSS on a $14.4 revenue: https://etherscan.io/tx/0xa6351bab810b6864bfebb0f6e1e3bde3c8856f8aac3ba769dd2e6d1a39c0d23f Linkpool’s (one of the biggest node operators) “ETH-USD CryptoCompare” job costs 0.1 link and has 33 runs in the past 24 hours (once every ~44min), total ~78,000 runs since May 30 2019 (once every ~8min). https://market.link/jobs/64bb0845-c4e1-4681-8853-0b5aa7366101/runs (PS cryptocompare has a free API that does this. Not sure why it costs $1 at current link prices to access an API once)
Top 100 wallets (0.05% of ~186,000 total) hold 83% of tokens. 8 wallets each hold over 1% of total, 58 hold over 0.1%. Of these 58, 9 are named exchange/lending pool wallets. For comparison, for Tether (TUSD), the top 100 wallets (0.006% of ~1,651,000 total) hold 35.9% of the supply. 3 addresses hold over 1% of the supply and 135 hold over 0.1%. Of these 135, at least 15 are named exchange/lending pool wallets. LINK’s market cap is $3.5B (or $10B fully diluted, if we count the foundedev-controlled tokens, which we should as there's nothing preventing them from being moved at a moment's notice). Tether’s is $6.9B. Tether has 10 times more addresses and less distribution inequality. Both LINK and Tether are ERC20 tokens, and even if we temporarily ignore any arguments related to management/roadmap/teams etc, Tether has a clear, currently functional, single use case: keep 1 USDT = $1 USD by printing/burning USDT (and yet as of April 2019, only 74% of Tether's market cap is backed by real funds - https://en.wikipedia.org/wiki/Tether_(cryptocurrency))). Given that Chainlink's market cap is now 50% bigger than Tether's, surely by now there's AT LEAST one clear, currently functional use case for LINK? What is it? Can we *see* it happening on-chain?
Chainlink’s actual deliverable products
"What do I currently get for my money if I buy LINK 1) as an investor and 2) as a tech business/startup thinking of using oracles?” Codebase (Chainlink’s github has around 140-200,000 lines of code (not counting html/css). What else is not counted in this? Town crier? Proprietary code that we don't know about yet? How much CODING has Chainlink done other than what's on github? Current network of oracles - only ~20 active nodes - are there many more than the ones listed on market.link and reputation.link? If so, would be nice to know about these if we're allowed! Documentation - they have what seems like detailed instructions on how to launch and use oracle nodes (and much more, I haven't investigated yet) (TODO this part more - what else do they offer to me as an end consumer, and eg as a tech startup needing oracle services that I can’t code myself?)
Network utilization statistics:
Etherscan.io allows csv export of the first 5000 txs from each day. From Jul 31 to Aug 6 2020, I thus downloaded 30,000 tx from midnight every day to an average of 7:10am (so 24 hour totals are 3.34x these numbers if we assume the same network utilization throughout the day). (Summary of all LINK token activity on the ETH blockchain from 31.07 to 06.08, first 5000 txs of each day (30k total) shown Appendix A comment below this post.) If we GENEROUSLY assume that EVERY SINGLE transaction under 10.0 LINK is ACTUAL chainlink nodes doing ACTUAL work, that’s still under 0.1% of the LINK network’s total volume being used for ACTUAL ecosystem functioning. The rest is speculation, trading, node funding by foundedev wallets, or dumping to exchanges (anything I missed?) Assuming the above, the entire turnover of the actual LINK network is currently (18,422 LINK) * ($10/LINK) * (3.34 as etherscan.io’s data only gives first 5000 tx per day which averages to 7:10am) * (52 wk/year) = USD $31,995,329 turnover a year. Note: the below paragraph is old analysis using traditional stock market Price/Earnings ratios which several users have now pointed out isn't really applicable in crypto. I leave it for the record. Assuming all of that is profit (which it’s not given tx fees at the very least), LINK would need a PE ratio (Price/Earnings) of 100 times to justify its current (undiluted) valuation of $3.5 billion of 300 if you count the other 65% of tokens that haven’t been dumped by the founders/devs yet. For comparison, common PE ratios are 32 (facebook), 29 (google), 37 (uber), 20 (twitter on a good year), 10 (good hedge fund returning 10% annual).
Thoughts on DeFi & yield-farming - [TODO]
Why would exchanges who do their due diligence list LINK, let alone at a leverage? 1) that's their business, they take a cut of every transaction, overhyped or not, 2) they're not safe from listing openly bearish tokens like EIDOS (troll token that incentivized users to make FAKE transactions, response to EOS) https://www.coindesk.com/defi-yield-farming-comp-token-explained The current ANNUAL yield on liquidity/yield farming is something like 2% on STABLE tokens like USDC and TETHER which at least have most of their supply backed by real-world assets. If Chainlink LINK staking is to be successful, they'll have to achieve at LEAST that same 2% at end-state. IF LINK is in bubble territory and drops, that's a lot of years at 2% waiting to recoup losses.
SmartContract Team & Past Projects
Normally I don't like focussing on people because it leads too easily to ad-hominem attacks on personality rather than on technology/numbers as I've done above, but I came across this and didn't like what I saw. Steve Ellis, SmartContract's current CTO, co-founded and worked in "Secure Asset Exchange" from 2014 to 2016. They developed the NXT blockchain, issued 1,000,000,000 NXT tokens (remind you of anything?), NXT was listed end of 2013 and saw 3 quick 500%-1000% pumps and subsequent dumps in early in mid 2014, and then declined to . SecureAE officially shut down in Jan 2016. Then at some point a company called Jelurida acquired the rights to NXT (presumably after SecureAE?), then during the 2017 altcoin craze NXT pumped 300 times to a market cap of $1.8 BILLION and then dumped back down 100 times and now it's a dead project with a market cap of $13 million. https://www.linkedin.com/in/steveellis0606/ https://trade.secureae.com/ https://coinmarketcap.com/currencies/nxt/ https://www.jelurida.com/news/lawsuit-against-apollo-license-violations As an investor or business owner, would you invest/hire a company whose co-founders/CTO's last project was a total flop with a price history chart that's textbook pump-and-dump behaviour? (and in this case, we KNOW the end result - 99% losses for investors) If you're Google/Oracle/SWIFT/Intel, would you partner with them?
Open questions for the Chainlink community and investors:
Network activity: Are there any other currently active chainlink nodes other than those listed on market.link and reputation.link? If so, is there a list of them with usage statistics? Do they use some other token than LINK and thus making simple analytics of the LINK ERC20 token not an accurate representation of Chainlink’s actual activity? If the nodes listed on the two sites above ARE currently the main nodes, then
PR, partnership announcements: Why is the google tweet still pinned to the top of Chainlink’s twitter? Due to the frequently circulated Chainlink promotion material (https://chainlinkecosystem.com/) that lists Google as one of the key partners, this tweet being pinned is potentially misleading as there isn't anything in there to merit calling Google a "collaborator" or "partner" - just that blockchains/oracles *can* use Google's APIs (but so can most software in the world). Is there something else going on with the SmartContract-Google relationship that warrants calling Google a partner that we're simply not aware of yet?
By buying LINK, what backs YOUR money: If you have bought and currently hold LINK tokens, how comfortable are you that the future promise of your investment growing is supported on verifiable business and technological grounds versus pure, parabolic hype? If after reading this post you still are, I kindly ask you to reply and show how even one of the points I provided is either incorrect or not applicable, and I will edit my post and include your feedback in the relevant section as I have already done from other users.
What have I missed? Of course not 100% of what I've said is infallible truth. I am a real human, and I have plenty of biases and blind spots. Even if what I've provided is technically correct, there may be other much more important info that I've missed that eclipses what I've provided here. Ask yourself: if the current hype around LINK is indeed valid and points to a $100/$1000 future LINK price, then Where’s Chainlink’s missing financial/performance/usage evidence to justify LINK’s current valuation of $10+?
For your consideration, I have provided evidence with links that you can follow and verify, and draw your own conclusions. I have made my case as to why I believe the LINK token is currently priced much higher than evidence supports, and I ask you to peer-review my analysis and share your thoughts with me and with the wider LINK/crypto community. Thank you for your time, I realize this is a long post. All questions and feedback welcome, feel free to comment or PM. I won't delete/censoblock (except for personal threats, safety considerations etc). I am a real human but I am not revealing my true identity for obvious privacy/harassment reasons. (If anyone is wondering about my credentials ability to add 2+2 and work with basic spreadsheets: I have previously won a math competition in a USA state, I won an English-speaking country's physics olympiad, my university education is in mathematical physics/optimization engineering, and I worked for a few years in a global manufacturing company doing data analytics, obviously I'm not posting my CV here to verify that but I promise you it's the truth) I’m not looking to spread neither FUD, nor blind faith, nor pure hype, and I want an honest transparent objective discussion. I personally believe more that LINK is overvalued, but my beliefs have evolved and may continue to do so as I research more and understand more about Chainlink, LINK, Ethereum, DeFi, and other related topics, and as I incorporate YOUR feedback. If you think I haven't disclosed something, ask. As always, this is not financial advice and I am not liable for anything that may happen as a result of you reading this!
Warning, long post from my mornings contemplation. See https://twitter.com/markjeffrey/status/1300175793352445952 (Mark Jeffery 30 mins) for a video explaining DeFi. This is my attempt at explaining DeFi. I’m still learning this stuff, so any corrections are welcomed. Links are provided for information, none are recommendations, nor referral links. Do your own research (DYOR) before investing :) I’ll try not to shill YFI too much... Not all platforms use the same mechanics as I describe, but I think I’ve covered the most common ones. Stable coins Crypro currency that is intended to maintain a level value. Normally with respect to USD $. Some rely on a trusted third party who has actual USD sitting in a bank account (USDT aka Tether, USDC…), others are trustless (DAI) Maker Lock collateral into the smart contract. Then DIA can be generated, and used for other things. DAI is designed to match the USD, and is completely trustless. You must have more value staked than the DAI removed (at least 150% over collateral) or you will get liquidated. BTC on ETH Bitcoin can not be directly used on the etherium chain. So, there are a number ways to make the value availble. Most involve trusting a 3rd party and the most common is wrapped BTC wBTC. Notes WETH (Wrapped ETH) is used by some contracts to use ETH (direct use of ETH is not possible in some contracts) Unlinke WBTC, WETH is trustless as evrythign is done on the etherium blockchain (I think). Lending You deposit a valuable token onto a pool on platform, someone else borrows it. They pay interest to the pool. You get a proportion of the pools interest over time. When there is high demand for a particular token, the interest rate increases dynamically. e.g. look at the interest rate model and click on the figure for https://compound.finance/markets/USDC Borrow rates increase lineally as more of the available pool is loaned. 2% at zero and 12.5% when the pool is emptied. Earnings are lower than the borrowing rates because: There is more in the pool than borrowed. The platform takes a cut. e.g. 50% of the pool is borrowed, the borrower pays 7.25%, but the lenders only get 3.38%. 3.38/0.5 = 6.76%, so about 0.5% of the interest is being taken by compound. Different pools have different interest rate functions, DAI has an inflection point to maintain a buffer https://compound.finance/markets/DAI The interest rate increases slowly to 4% until 75% of the available pool is loaned out. Then it’s much more expensive to borrow e.g. 16% APR at 90% utilisation. When lending a single token into a single pool, you should always get the (slightly ?) more of same token back. How lending works You deposit ETH, you are given a token back as proof of participation in the pool (cETH for comound.finance). The exchange rate for cETH to ETH is NOT fixed. Rather is changes over time. As the ETH interest is paid into the pool the cETH becomes more valuable compared to the initial deposit. e.g. you deposit 10 ETH, and get 499.52 cETH. In a months time, you repay the 499.2 cETH cETH and get 10.1 ETH back. You have just gained 1%. Taxes In many jurisdictions, converting ETH to cETH would be classed as a taxable event (DYOR ! ) Lego Bricks The cETH represents your ETH, so it has value. This means it can be used for other things... Lego bricks is taken to mean that all these things fit together and you can sue them in different ways. How borrowing works You need to be over colarteralised to borrow from most platforms. So, if you deposit 10.0 ETH into a smart contract, you (currently) have $4,000 of collateral to work with. The platform may then let you borrow a % of your collateral in other tokens. So, you can borrow $2,000 of USDC, to buy more 5 ETH. Then when ETH price goes up you sell $2100 back to USDC and repay the interest. Now you have 10.x ETH. This is a form of Leverage, when the price goes up, you win. However, if the ETH price goes down, you risk being Liquidated. This means part of your collateral will be sold at the (lower) market price to repay your loan. There will likely be a penalty for you. (e.g. @ ETH = $300, 7.33 of your ETH is sold for $2,400, your USDC loan is repaid, and you keep the remaining 2.67 ETH and the 5 ETH you purchased. Shorting Deposit $8,000 collateral, Borrow 10 ETH and sell for $400 each. If the price drops to $380, buy 10.1 ETH and repay the loan and interest. You have just made $162 profit. However, if the price goes up you will still need to buy 10.1 ETH. Flash Loans A technomage creates a single transaction that borrows lots of money. Then within the same single ~13 second block uses it to do lots of complex things to hopefully make a profit. As it’s all within a single block, collateral is not required. See https://mobile.twitter.com/nanexcool/status/1297068546023993349 for a transaction that made ~46,000 USDC profit (without collateral) If this post is introducing you to the possibilities of flash loans, you are very unlikely to ever do one in the near future. I think Aave is the most common source for flash loans. Simple farming lending: Simply put you token in which ever platform offers the largest interest rate. Moving to the best option costs gas (and attention). Complex lending farming Some platforms offer tokens in return for using a platform, so simple APR comparisons aren’t sufficient. If the additional platform token has high value it can distort the market. E.g. when COMP was initially offered, it was profitable to:
Place collateral on compound.finance
Borrow BAT at 30%
Lend the BAT back to the same platform at 15%
Collect the COMP accrued due to interest paid and interest earned.
Sell the COMP on the open market.
This technique was made less favourable by compound changing the distribution model so smaller pools (like BAT) couldn’t be exploited in this way. DEX Decentralised exchanges range from ones that operate with depositing assets, trading with an order book and then withdrawing, to simple interfaces that allow you to swap tokens. of the latter, the most popular is uniswap. Liquidity provision The swap based DEX’s rely on liquidity providers (LP). Here you deposit equal values of two tokens e.g. USDC and ETH. Then any time someone wants to swap USDC for ETH on the exchange, they add USDC and remove ETH from the pool. Each time someone does a swap, they pay a fee to the liquidity pool and you get a share. Impairment loss However, if the price of one asset goes up, the pool with stabilise to have less of it. So you see an overall increase, but not as much as if you had just hold’ed. See https://twitter.com/ChainLinkGod/status/1270046868932661248 for an example. Hopefully, the fees accrued are greater than the losses. https://twitter.com/Tetranode/status/1300326676451057664/photo/1 Stable coin pairs If you restrict yourself to similar things (e.g. USD stable coins, or different versions of BTC on Ethereum), then the impairment loss is much reduced. Curve.finance focuses on such like for like pools and allows multiple tokens in a single pool. Complex farming liquidity pools Taking advantage of governance token rewards for using certain exchanges / pools. This can be done to boot strap liquidity and / or allow a decentralisation of the governance of the DEX. The tokes received have value because of expected future income, or governance rights (which may be exploited for future income) Yearn Yearn is a group of smart farmer protocols that allow pooling to reduce gas costs and benefit from smart developers / contracts. The simplest EARN take tokens / stable coins and place them in the highest yielding platform for that token. https://yearn.finance/earn The yCRV vault provides USD stable coin liquidity within curve for trading fees, but also lending fees via Yearn pools for each stable coin (oh and it gets CRV governance tokens…). Other vaults use more complex strategies. The collateral is used to generate stable coins that then generate income from interest rates, Liquidity provision fees, and accrual of governance tokens. Some governance tokens are sold, others are used to optimise the rewards from other platforms. For example, see this video on the Link Vault (Mark Jeffrey 13 mins). https://twitter.com/markjeffrey/status/1300175793352445952 I expect the ETH vault may be similar, but may include Maker to generate the stable coins (rather than borrowing on Aave). This video is a good intro on curve / yearn products (DeFIDad 31 mins) https://www.youtube.com/watch?v=yP-4pJpKbRU All of these steps can be done by yourself, however, gas costs would be significant unless you have a large amount invested. Yearn, and vaults pay fees to the YFI protocol. YFI YFI is the token for yearn. There are only 30,000 issued. So, you can not earn them, you can: 1) Stake them for governance rewards 2) place in a yYFI vauly to gain more FYI 3) Use them as long term Ventrue capital funds within a DAO (coming soon (tm) ). YFII, YVFV etc. Forks of the YFI with different tokens / fees. YAM, Sushi, YFII, etc. To be completed… Synthetix To be completed... Finally: This is not financial advice. There are multiple risks which get larger as more moving parts are added. Errors and omissions expected. Do you own research. Comments and corrections welcomed
My favorite 6 low market cap crypto with good devs, development , so great potential:
POA: 5 mil, less than 2 cents, 380 mil supply, more and more dapps on this network are occuring POA Network is an Ethereum-based platform that offers an open-source framework for smart contracts. The project is an Ethereum sidechain that uses Proof of Autonomy as its consensus mechanism, relying on a set of pre-selected validators to secure the network. The validators' identity will be public.Its purported benefits are the flexibility to code in Ethereum standards with the benefits of scalability and interoperability in blockchain networks.The POA Network will allow organizations to build their own networks with their own validators and developers to deploy DApps. https://coinmarketcap.com/currencies/poa/ Phantasma (SOUL) - you can currently buy it for 7 cents on Uniswap, 100mil supply, + PAY TX FEES + DEPLOY SMART CONTRACTS + MINT #NFT + BLOCK PRODUCER SELECTION + VOTING + EMAIL + CHAT + COSMIC SWAPS https://coinmarketcap.com/currencies/phantasma/ DISTX - 11 cents - 50 mil supply -platform for token sale. Top 200 DISTX token holders receive a share of 2% of all tokens from token sales running through the DistX platform. Platform goes liveon 28th of October https://coinmarketcap.com/currencies/distx/ Walletreum (WALT) = 4 cents on uniswap, 50 mil supply, crypto-asset management tool for a real-world application with Lending, Borrowing (SAFE CREDITS), WALT Farming, OFF-Chain swapping with Zero fee (Inter-platform), and Solution to price depreciation for both lenders and borrowers in a bear market with the help of "ALGON." crypto Oikos (OKS) - 2.7 cents, 100 mil supply, available on tron link or Oikos platform which is fully functional and will be upgraded in 2 weeks for beter experience. Tron based synthetic asset platform that provides on-chain exposure to fiat currencies, commodities, stocks, and indices, collectively known as Synths (Synthetic assets), which are backed by Oikos Network Tokens (OKS) locked into a smart contract as collateral. https://coinmarketcap.com/currencies/oikos/ Bidao (BID) - 2.6 cents, 4 bil supply which will be reduced on 20th Oct, probably to 2-3 billion.So this is higher market cap but more solid crypto with crazy amount of parnerships and also listed on europe 500 top companies....Looks something like maker agnostic trustless stablecoin and decentralized finance ecosystem. Moreover the Bidao® Token can be staked to earn extra rewards https://coinmarketcap.com/currencies/bidao/
Not sure why this wasn't posted before: Olaf Carlson on Eth's crazy gas situation. DeFi choked every Dapp sector out, but Polkadot welcomes them.
For any new guys, Olaf Carlson runs the biggest crypto VC fund, Polychain Capital. He is bullish on Polkadot. https://www.youtube.com/watch?v=92Bx7otttNY&t=2975s Text: Interviewer - "Let's talk about the fee issue on Ethereum. At the moment a simple trade on Uniswap can cost something like $40 and more complex transactions for yield farming are even more expensive. Do you think Ethereum will scale in time to retain all its market share in DeFi considering that the explosion is already here and already pushing Ethereum's limits?" Olaf - "In short, I don't think it will be able to scale fast enough. Whether that just slows down the market or whether aspects of the market go to other chains its too early to say. DeFi is very exciting for Ethereum but in a weird way is actually really really bullish in my mind for systems like Polkadot or Dfinity that are from an engineering perspective just candidly far ahead of Ethereum. They don't have the network effects, users, wallet installs, or anything that Ethereum has, but Polkadot is live and working and scalable right now, today. And so I do think we'll see a lot of DeFi migrate from Ethereum to Polkadot in maybe the short term. Long term I'm hopeful that Ethereum can scale and upgrade and change. But that all said, what's much more exciting to me about these new systems launching that have either better scalability features or like Web Assembly or WASM based virtual machine compatibility so you can write programs in many different programming languages all of these sorts of features are exciting not just to narrowly compete in DeFi. It's exciting to me because it will enable new types of applications that simply aren't possible on Ethereum today. Much in the way that Ethereum enabled all sorts of applications that weren't possible on bitcoin. Today we know that what's exciting about Ethereum is not that it narrowly competes with bitcoin's value proposition but rather expanded the scope of what was possible for the entire crypto universe. And we got things like stablecoins, things like lending contracts, ICOs, DeFi. And I think that systems like Polkadot are going to once again expand the universe of what is possible. Its not a zero sum game where its narrowly like which chain is gonna win DeFi. I think that's a very myopic view and it shows a lack of imagination about how many different types of applications these smart contract type structures will affect. So I'm very optimistic about scalability across the entire ecosystem but I'm less confident about the short term timeline of Ethereum. I just think that DeFi is moving way faster - like by over ten times at least - maybe closer to 50 or 100 times faster than Ethereum core protocol development. And I see no reason for that to change. I don't think Ethereum core protocol development has ever been fast and I don't see any reason to think that it will get faster. And DeFi has always been fast and I don't see any reason that it will get slower. So you add that combination of factors and yeah I do think that you will see applications migrating to more scalable chains. [...] I'm having conversations now with teams that have yet to launch on Ethereum that are saying should we launch on Ethereum or should we launch on another chain? Because the fee situation is completely - its really bad - like I don't think... it's not like this is a bump in the road. It is existential for the entire landscape of applications we're talking about. Right now you have to be transacting at least a thousand dollars per transaction for any of this to make sense from a fee perspective. And I would say that's the absolute baseline [...] more realistically you have to be using five or ten thousand dollars to really accept the kind of fees we're talking about. And a lot of people are using five or ten thousand dollars but obviously that's pricing a huge number of people out of this market." Some examples: Due to insane gas prices, Trial of the Gods card minting and trading will be deferred until the release of Immutable X I tried to buy 2 cards, worth $0.24 each. After gas, my transaction is $6.80! Hi, new player using Metamask to buy a couple dollars worth of cards on the marketplace, but everytime the gas price is something of >$15. $25 fee to buy a $2 card $50 transaction fee to roll the dice Minimum bet is now 3 ether to reduce gas cost as a % Overall, all the fees came up to about $140. Fees for Coinbase was about $2 and the fee to create the bet was like $130 Some dapps like God's Unchained and Augur are looking into L2 solutions, but those come with massive risks from a company perspective. See the Lightning Network's astounding lack of adoption as the primary example. Other dapps are just calling it quits:
Incorrect Assumption #2: Scalability wouldn’t be a problem This was an explicit assumption in our presentations: usability was more important than scalability, and given that there were so many deployed L2 solutions on the market (like xDai), as soon as scalability became a problem we would all move there. This turned out a deadly assumption: as soon as we had our email sign-in solution ready, gas fees on Ethereum made the whole process unworkable.
Reading between the lines: Even if L2 solutions were perfect today, most (non DeFi) dapps are still dead if they stay on Ethereum. Users need to pay upwards of $20 to enter and exit that L2, and I'm not sure if that's changing anytime soon. Gas fees are just not viable for the vast majority of dapps until Eth 2.0, and the part of Eth 2.0 that brings scalability is not happening until 2023~
"First of all, we need the help from the community to spread the word about Sashimi — how fair it is built, how innovative the features are, and how awesome the community is. Secondly, the product will speak for itself as Sashimi DEX, investment and vaults will create enormous value to the community. And let’s get sashimi listed on more exchanges so that people get to know about it." (Zhuling)
2Q: Can we expect any big exchanges listing Sashimi soon? Many exchanges require some sort of payment or token gift, how will we promote Sashimi to othenew exchanges without a dev team fund?
"If you look at the recent DeFi token listing on big exchanges, they were all free. The key is that they need to make sure the project is mature and safe,which Sashimi is, and the project has a large community (we are building that with you). So it could be a matter of time for Sashimi to be listed on big exchanges." (Zhuling)
3Q: As APY drops from each block reward reduction, how will Sashimi continue to incentivize current and new users?
"Yeah, I hope this is answered in today’s update. Sashimi 1.0 does not have any revenue generating mechanisms, instead it incentivizes users to provide liquidity to Uniswap (as opposed to Sushi sucks up Uniswap liquidity) and distributes tokens to users. We are currently focusing on providing revenue generating services, such as AMM swapping, investment, and vaults. All these services will charge a transaction fee or create interest, which will be distributed back to token holders. This will make sashimi token highly rewarding to its holders and hence will increase APY. "(Zhuling)
4Q: Will there be staking options enabled after Sashimi2.0 is released to incentivize holders?
5Q: What are the edges of Sashimiswap, over contemporary other swaps.
"Compared to other Swaps, SashimiSwap innovatively introduces Sashimi Investment to make use of the idle liquidities. While maintaining sufficient liquidity to ensure low slippage for swapping, the remaining liquidity will be deployed to lending protocols to gain additional income. This is a game changer to increase the utilization rate of liquidity provided. Via smart contract, it also ensures all the funds are secure and immune to human manipulations. Secondly, with Sashimi Vaults, user’s funds will be deployed smartly to farm in other protocols. For example, certain pairs can be used to double farm Uniswap, Sushi and at the same time to get Sashimi rewards. There are so many new protocols coming up, Sashimi picks the secure protocols to farm. Hence provide users additional revenue." (Zhuling)
6Q: How long will the Aelf developer team continue to support the project [SashimiSwap] without any team rewards, and why?
"I entered the blockchain industry in 2013. As an experienced blockchain practitioner, I saw many problems in the industry. The underlying performance, governance, development and other issues of the blockchain encouraged us to create Aelf. However, we found that if we only work on the main network, there may be a lack of users and traffic. You know, Microsoft didn’t just make Windows, they made a very successful application called Microsoft Office. We build SashimiSwap simply for the initial traffic of Aelf, and at the same time we also provide a value-added opportunity for ELF holders, who can provide liquidity to access Sashimi." (Haobo)
7Q: In terms of transaction costs and speed, how did AESwap fare in the test runs compared with Ethereum and Binance Smart Chain?
"We can do zero fee, but AESwap will pay 0.3% of the fee to the Aelf main network, which will be determined by the Aelf community." (Haobo)
8Q: The amount of attention Sashimi is receiving is not commensurate with its merit. Any plan of marketing for enhanced visibility? This is an honest project supported by a reputable team. It’s painful to see this project losing to projects with dubious expertise and reputation.
"Thank you for your kind comments! Let’s all push hard to spread the words and let more people try out Sashimi! In the future, why not the community make a proposal for the community to get donations for helpers to market Sashimi to the market. The DeFi game is still at early stages — future focus will be on more rewarding features, user experience and less fees. I believe it’s not yet clear who is the winner until we all fight hard." (Zhuling)
9Q: In my opinion, Sashimi started strong by not having a pre-mine nor developer allocation. Unfortunately, the pace of copy-forks of Uni/SushiSwap is high. Going forward, what will set SashimiSwap apart from other copy-forks? We are already aware of ‘historic’ reasons like a) named team from Aelf, b) no pre-mine, no developer allocation, c) integration with AESwap. Is there more?
"I believe the Sashimi 2.0 annoucnement has covered that. To recap, Sashimi has moved from a fork of Uni/Sushiswap to a fully fledged DEX with liquidity farming, with innovation investment capability to tap into idle liquidity, a vault to help users farm in other venues and lastly also a Sashimi bar to incentivize sashimi staking. Sashimi is equivalnt to Uniswap + Sushi + YFI in 2.0. The team has put a lot of thought on how to make sustainable tokenomics and reward users for their positive behaviors."(Zhuling)
10Q: It is my humble suggestion that we have developer-advocates or at least one developer that could shed some light on the progress being made regarding SashimiSwap (i.e. 0xMaki’s daily updates for SushiSwap regarding tech, new hires, marketing efforts etc). We understand that Aelf is backing this project and Aelf has no legal obligation to provide the community with updates, but it would be great for the community if one person from Aelf could be allocated to such a role (or hired from the community?). Will Sashimi consider being more integrated with its community in this manner?
"The past few days the tech team has been super busy with Sashimi development (as you can see so many features coming up for Sashimi 2.0). We definitely would love to be more integrated with the community. We were a bit quiet as the team was working day and night to build and have to keep in stealth mode as the investment feature is brand new in the space!" (Zhuling)
11Q: As developers, is there any way we can contribute to Sashimi? We see 3rd party web interfaces being built for Uni/SushiSwap. What is Aelf/Sashimi’s policy towards non-employee devs contributing to the project? How can we do so?
"Yes, we welcome developers to propose new works on sashimi governance platform. Right now there’s no developers share (even the aelf team does not own any developer rewards). However, we would love to call for the community to donate to fund 3rd party developers, while aelf team keeps its commitment with no expectations of rewards — we just like to build interesting stuff." (Zhuling)
1Q: Will sashimi 2.0 use the same token as sashimi 1.0 or will it be a new token?
It’s the same token. Just the protocol has more fun features.
2Q: When will 2.0 come out?
Less than a week. The codes are being audited by an international security company.
3Q: Will 2.0 have a cross-chain ability?
Not at the current release. That will be a future feature.
4Q: What is the final total supply? Currently showing 51m on CoinGecko.
Max at 100mil, with a reducing inflation model.
5Q: Would you consider a save and borrow facility like compound?
Yes. So far this will be done through Sashimi Investment to deploy assets directly into compound or Aave.
6Q: The investment section looks like a public cryptocurrency fund. How does the contract make sure the investor suffers low risk? All the fund are from Vault. If there is a loss, it is no longer a Vault.
Great question. The contract only allows assets to be put under lending protocols and hence principals are protected.
7Q: How to deal with liquidity exhaustion problem when too much token are invested?
Only a certain amount of idle liquidity will be deployed with the precondition that the pool already has sufficient liquidity with low slippage.Aelf mainnet will be audited soon.
8Q: NFT are very big right now is this something which we could support like property deads bonds stocks art in investments??
Those can be supported by SashimiSwap in the future. But for now, let’s focus on supporting all ERC20 tokens and liquidity.
9Q: Why do we need a double farm? To incentivize investors and increasing liquidity?
Double farming is to get attention from Uniswap users and potentially let them try out SashimiSwap, and you get higher APYs in this way.
10Q: Who is gonna pay for the extra Sashimi for double farm?
Think about this as an incentive to get more users to move from Uniswap to Sashimiswap.
11Q: Will you migrate our LP tokens to the new SashimiSwap tokens?
This will happen soon and more instructions will be shared in coming days.
12Q: Can you elaborate on how the investment feature works? So, for example, a $1000 WETH investment will farm an x amount of SASHIMI. In return, you will also get xLP which you can stake on other projects?
Let’s take this question when Investment is ready to use on the website. It will be very soon.
How YFI came out of nowhere to become the fastest coin to reach $1B and the fastest coin to ever get listed on Coinbase
Note: As mentioned to the original 624 Reddit subscribers, there will be $YFI based Exclusive Original Content released here by myself and others from time to time. These kinds of interactive Deep Dives with a Q&A with fellow Investors / Beta Testers right afterwards is a rare thing in Crypto, and will only be found with this level of immediacy, social interaction, permanence, depth, and complexity of analysis and feedback on a platform like Reddit. A lot of projects have low innovation, just copying something that someone else has already done, but with small tweaks to things like variables in Smart Contracts. A few rare projects have genuine innovation, providing genuine value to investors and users by providing attractive new products that simplify a lot of things in this space. Even rarer are the Unicorns that not only have innovation, but they have innovation in spades, oozing out of every pore. $YFI is one of these types of Unicorns. The scope of products and rapidity of release of new revolutionary products of this project has been simply unmatched in the short history of Crypto. Since 2009, the world of crypto has never seen anything like this lightning fast pace of development spanning such a wide scope of products - optimized automated yield farming and lending that relentlessly hunts the best yields, crypto insurance on Smart Contracts, a revolutionary Stablecoin idea that essentially makes a USD altcoin "smart" with built-in yield farming capabilities for the first time, to name a few - all built by a genius Smart Contract Builder who provided the world the first Fair Launch token. Key to wrapping your head around the advantages that the yEarn Finance ecosystem has over - well, every single other option out there at this time - are the concepts below:
CeFi vs. DeFi
Smart Contract Stacking
The power of a Talented and Diverse DAO
To discuss these concepts, and to educate beginners, we have to understand what the terms above truly mean. This post doesn't discuss any particular products and their advantages, only the systemic advantages that are available only to $YFI. This project seems to attract the smartest and the highest risk taking of crypto investors, and an important thing in truly understanding all of the risks involved, is that you have to know the terms and concepts first. Even veteran crypto and DeFi users may be thrown for a loop by some of the innovative products and concepts that keep coming out of the YFI Labs. This project is going through an expansion phase, where the scope of everything and the reach of the various released products is increasing (Insurance, A truly pegged Stablecoin, yETH Version 2, ySwap, yLiquidate, etc, etc..) You know that there's some motherforker or twenty that is now just avidly waiting for every piece of code that Andre drops onto GitHub, so that they can be among the first to copy it verbatim then claim it as "their own variation" because they changed some variables and titles. Yawn. From the definitive glossary for the DeFi space - yet another $YFI innovation - I'll list their definitions below. These may not be their final definitions when I finish any V1.1 edits to it, but they're good enough for now, and at least 3 or more YFI Dev Team members have read, reviewed, or edited these definitions. I've also invited my fellow Beta testers to provide comments to my RFC on this subreddit and in the Governance forum (among the documentation volunteers). Yes, this is how early DeFi investors are in the development and maturation of the DeFi space. Anyone reading this right now is so early into DeFi's evolution that the terms used for this space are literally still being finalized by the community. I've given a little bit of a sneak peek into how technical documentation is somehow self-organized in a powerful DAO such as this one. In this example, it starts off with a call for help on Twitter to improve our documentation by tracheopteryx. Interested and qualified volunteers show up (or don't) when such a call is made. Your writers and editors have spent many a moment pondering off into space debating whether this term really means this or that, or if the term was either succinctly described, or fully sufficient. It's a usually thankless and anonymous job, that is critical in providing enough relevant information to its users and investors. [Note: Just like anything you see related to the $YFI project: You can help us improve this documentation - any of it - if you see errors or better ways of describing this information.] All terms are shamelessly plagiarized from myself and my fellow writeeditors - u/tracheopteryx and Franklin - from the draft definitions in our new DeFi glossary: https://docs.yearn.finance/defi-glossary 1. CeFi vs. DeFi CeFi - Centralized Finance. In terms of cryptocurrency, CeFi is represented by centralized cryptocurrency exchanges, businesses or organizations with a physical address, and usually with some sort of corporate structure. These CeFi businesses must follow all applicable laws, rules, and regulations in each country, state, or region in which they operate. DeFi - DeFi, or Decentralized Finance, is at its root a set of Smart Contracts running independently on blockchains such as the Ethereum network. Smart Contracts may or may not interact with other smart contracts and even other blockchains. The goal of DeFi is to enhance profitability of investors in DeFi through automated smart contracts seeking to maximize yields for invested funds. DeFi is marked by rapid innovative progression and testing of new ideas and concepts. DeFi often involves high risk investing sometimes involving smart contracts that have not been audited or even thoroughly reviewed (a review is not as comprehensive as an audit, but may be also be included as part of an audit). Due to this and other reasons, DeFi is conventionally considered to be more risky than CeFi or traditional investing. Comment: DeFi is higher risk, partly because it moves so fast. A lot of yams, hot dogs, and sushi can get lost when you move so fast that you can't even bother to do a thorough audit before releasing code. The cream of the crop projects will all have had multiple audits done by multiple independent auditors. Auditors are expensive. At such an embryonic stage, most projects can't afford to have one audit done let alone 5. But if you can live with that higher risk intrinsic in DeFi and be willing to be a part of "testing in prod," then financial innovation can truly blossom. And if you let your best and brightest members of your community focus only on doing what they do best, then they don't have to bother to try to grow a business like a Bezos, Musk, or a Zuckerberg. Innovative entrepreneurs in this mold such as Andre, don't have to even try to do this business growth on their own because the DAO sets it up so that they don't have to do this.The DAO both grows the business while supporting and allowing these innovators to simply innovate, instead of trying to get nerds to do backroom deals to gain market share and access to new customers. It turns out that nerds are much more productive when you just let them be a nerd in their labs.
Composability - The measure of the usability and ability of a product to be used as a building block (or "money lego") in the construction of other products or domains. A protocol that is simple, powerful, and that functions well with other protocols would be considered to have high composability. Comment: The maturity of the cryptocurrency ecosystem and the evolution of composable building tools in the DeFi space now make new products and concepts available. $YFI would not have been possible only 2 or 3 years ago; the tools and ecosystem simply weren't ready for it yet. This is why only now are you and many other now hearing about YFI. In 2018, Andre began providing free code reviews to Crypto Briefing. Andre had to learn to walk before he could run, and the composable tools needed to work on embryonic ideas in his head were simply not ready or available then. By reading and reviewing so many Smart Contracts he learned to recognize good code from bad code at what was still a very early stage in Smart Contract development in 2018, only 3 years after ETH's launch in July 2015.
Smart Contract Stacking
Smart Contracts - A digital contract that is programmed in a language that is considered Turing complete, meaning that with enough processing power and time, a properly programmed Smart Contract should be able to use its code base and logical algorithms to perform almost any digital task or process. Ethereum's programming languages, such as Solidity and Vyper, are Turing complete. Comment: Smart Contracts have actually gotten smarter since ETH launched in July 2015. It's because Smart Contract builders needed to learn Solidity and how it functions and interoperates before they could spread their wings as designers. With more time and experience under their belts, the early SC builders that stuck to it have gotten much better. In Andre Cronje, we may have been witness to the rise of the next Satoshi or Vitalik of crypto. There is a reason that a couple of days ago, I counted 6 of 41 YF clones - nearly 15% - among the top gainers on the day. Success breeds copycats showing a ton of flattery. A smart contract is so smart, it can be used to be stacked upon other smart contracts such as at Aave or Maker. True innovation takes time, sacrifice, blood, sweat, and tears. It does not come without cost to those doing the innovating. There is not a single project in DeFi, CeFi, or even all of cryptocurrency that can claim the breadth and diversity of innovation and product reach that is found in the $YFI ecosystem. As a tech investor and professional nerd who's been involved at Research Labs and around product development and testing since before the year 2000. Prior to that I've ready widely and keenly to keep up with technological changes and assess investment potential in these disruptive changes nearly my whole life. The amount of innovation shown in this project is breathtaking if you're a Tech or FinTech researcher. It's being released at a ridiculously rapid pace that is simply unmatched in any private or government research lab anywhere, let alone at any CeFi or traditional financial institution one can name. The only comparable levels of innovation shown by this young project is typically only seen during periods of epochal changes such as The Renaissance or times of strife and war, such as World War II. Unless you've been in the industry and working with coders:I don't think those that haven't been around software development and testing can understand, can truly grasp that no one, no group does this.This isn't normal. This rapid-fire release of truly innovative code and intelligent strategies would have to be comparable to some of the greatest creative periods of human ingenuity and creativity. It's truly on par with periods of brilliance seen by thinkers like Newton, Einstein and Tesla, except with software code and concepts in decentralized finance. When the history of FinTech writes this chapter in its history, $YFI may need its own section or chapter. Don't forget all of these financial instruments we take for granted all around us, all had a simple start somewhere, whether it was an IOU system of credit, insurance, stocks, bonds, derivatives, futures, options, and so on...they all started off as an idea somewhere that had to get tested sooner or later "in production." One brilliant aspect of $YFI Smart Contracts is that they're built as a profitable layer atop existing DeFi protocols, extracting further value from base crypto assets and even primary crypto derivatives. $YFI is built atop existing smart contracts to create further value where there was none before, and help maximize gains for long term investors.
The Power of a Talented and Diverse DAO
DAO - Distributed Autonomous Organization. The first DAO was started in 2016. According to Wikipedia's definition, it is an: "organization represented by rules encoded as a computer program that is transparent, controlled by the organization members and not influenced by a central government. A DAO's financial transaction record and program rules are maintained on a blockchain." When implemented well, a DAO allows for real world experiments in decentralized democratic organization and control, with more freedom of action and less regulatory oversight for DAO controlled projects and products when compared to legacy corporate structures and organizations. Comment: yEarn Finance has shown us what a properly motivated and sufficiently powerful DAO can do in a short amount of time. There's many reasons why this project with an already profitable business model is the fastest original project in history to ever reach a $1B marketcap in any market - traditional or crypto - accomplishing this amazing feat in less than two months. There's reasons why this is probably the fastest coin in history to get listed on Coinbase in less than 2 months. The power of a sufficiently talented and diverse development team and community is stunning in its power, speed, and ability to get things done quickly. There are risks aplenty with parts of this project, but $YFI is now seen as a "safe" place in DeFi, because you know you that as far as yield farming you probably couldn't do it better yourself unless you took a chance on unaudited code with anonymous Devs, or you were doing the trading equivalent of throwing darts blindfolded and somehow won, except that you even more improbably kept doing that over and over and winning. Summary: There's reasons why YFI has been called the Bitcoin of DeFi and the Berkshire Hathaway Series A of crypto. I've listed some of the reasons above. The confluence of these 4 factors has helped lead to explosive growth for this project. This isn't financial advice as I'm not a financial pro but make no mistake: as a Crypto OG around crypto since early 2013, who was deeply involved in multiple community projects as an early organizer, and who was a small investor during the DotCom era investing in early giants that went on to be gorillas, I don't say this lightly that the $YFI project is lightning in a bottle and a diamond in the rough. What $YFI allows, when all is said and done, is the rapid fire implementation of great ideas that have gone through a rapid Darwinian evolution, where only the best ideas are implemented. Thoughts and ideas are powerful things. The valuation of this coin and ecosystem has to, itmusttake into account that this nascent financial innovation hub and ecosystem actually works and allows the best of these ideas to actually blossom rapidly. You just don't find too many gems like this.
SashimiSwap is currently an interoperable Full Stack DeFi Protocol on the Ethereum blockchain. It is a high-performance cross-chain financial exchange. SashimiSwap incorporates innovations in programmable tokens, financial management, and governance. SASHIMI is the Token of SashimiSwap, which is 100% distributed through liquidity mining with no pre-sale, pre-mining and team shares. SashimiSwap Core Products:
Exchange: AMM-based Decentralized Exchange. This exchange has similar workings to Uniswap where any ERC-20 token can be swapped for another ERC-20 token.
Investment: An asset management platform built in SashimiSwap Exchange, it will invest idle funds through different financial products. Read more about it further down the post
Farms: Liquidity mining platform used for liquidity incentive, with the new "double farming" feature. By providing liquidity into the liquidity pool users can earn SASHIMI tokens.
Vaults: An aggregate financial platform which invests the assets staked by users through different platforms.
Proposals: Community decides the development direction of SashimiSwap based on the Governance Platform. This is the backbone of the community voice.
Sashimiswap Exchange adopts the AMM model (Automated Market Maker), which is widely used in decentralized exchanges such as Uniswap. The method is to use CFMM (Constant product market maker) model to establish the trading market. Through the fixed product function x * y = k, according to the available quantity (liquidity) of each token to determine the price range of the two kinds of warrants. On SashimiSwap Exchange, the following two features are provided:
Add/Remove Liquidity: Users inject two types of tokens with equal value in the transaction pool to obtain the LP token, which represents the redemption voucher of the assets added by the user to the transaction pool, allowing users to redeem his assets at any time.
Swap: Users are allowed to exchange any ERC-20 token for another ERC-20 token through the transaction pool. At the same time, users need to pay a transaction fee.
2.2 SashiniSwap Staking
Website: https://sashimi.cool/staking SashimiSwap offers staking to incentivise the holding and locking of tokens. Users can lock their tokens for any desired time without time locks. When locking Sashimi tokens, the tokens are converted into xSashimi (these tokens work as a redemption voucher). The amount of xSashimi at time of initial conversion will be the same as the amount of Sashimi Tokens put into the platform. Over time, Sashimi tokens are bought back from the platform via multiple means: Investment, Trading Fees, and Vaults and is an automatic process performed by smart contracts. Bought back tokens are made available to the stakers on the Sashimi platform. Over time, the amount of available bought back Sashimi will increase. However, the amount of xSashimi will stay the same in a users account; this makes xSashimi worth more over time. When the user decides to withdraw his/her tokens from staking, the available xSashimi will yield more Sashimi tokens in return than originally put in. Important notice: during the staking process it will seem like no tokens are earned, however, this is only true on the surface. Look for the current xSashimi:Sashimi swap ratio above the staking module. This ratio increases over time making your investment worth more over time without visibly looking so. Example: a user has put in 1000 Sashimi tokens and received 1000 xSashimi tokens back. At the time of convertion 1 xSashimi is worth 1 Sashimi. After a week of staking, xSashimi has become worth 1.028 Sashimi. The user decides he is happy with this yield and decides to stop staking. By converting xSashimi back to Sashimi, he will now receive 1028 Sashimi tokens back.
2.3 SashimiSwap Investment (Built-in platform on the Exchange)
Sashimiswap Investment is a built-in asset management platform on SashimiSwap Exchange. Some assets in the transaction pool will be managed through SashimiSwap Investment, and some assets will also be invested in SashimiSwap Vaults. The profits obtained from financial management will be used to buy back SASHIMI. Users can obtain bought-back SASHIMI by staking SASHIMI (staking SASHIMI will obtain a certain amount of xSASHIMI as redemption voucher), allowing users to redeem the staked SASHIMI at any time.
2.4 SashimiSwap Farms
Website: https://sashimi.cool/farms SashimiSwap Farms is SashimiSwap's liquidity mining platform. Users can stake LP token to get SASHIMI rewards. Currently, users can only stake Uniswap's UNI-V2 LP token in SashimiSwap Farms. In the future, LP tokens of other DeFi platforms such as SLP will be available. After SashimiSwap Exchange goes live, it will support staking of LP token in the transaction pool, that is, SALP. SashimiSwap Farms can realize double farming, that is, users can obtain a double income by staking one asset, or directly stake in SashimiSwap farms for mining to obtain SASHIMI reward. The LP token staked by the user in other platform will generate xLP token through the LP Token Bar, which will be mined in SashimiSwap Farms platform to obtain the SASHIMI. The original LP token will return to Uniswap Farms, SushiSwap Farms and other platforms for mining under the highest yield, and the mining income will be used to buy back SASHIMI, which will be distributed to LP token stakers.
2.5 SashimiSwap Vaults
Website: https://sashimi.cool/vault SashimiSwap Vaults is SashimiSwap's aggregate financial platform. Vaults invest the assets staked by users through other DeFi products. According to APY, safety factor, financing cycle and other factors, SashimiSwap Vaults will automatically make the optimal investment. This can help users to get the highest yield without any contract operation. Farming profits will be used to buy back SASHIMI, which will then be distributed to stakers on a pro rata basis.
2.6 SashimiSwap Proposals
Website: https://snapshot.sashimi.cool/#/sashimi Sashimiswap Proposals is the governance platform in the SashimiSwap ecosystem. SashimiSwap welcomes community members to actively participate in building the ecosystem. At present, users who stake SASHIMI-ETH UNI-V2 in SashimiSwap farms can participate in the governance (add proposal and vote). Rules:
4.1 Distribution of the Exchange's transaction fees Transaction fees: The transaction fees for swapping on SashimiSwap are 0.3% of the token value of the transaction. Distribution rules: 5/6 of the transaction fees will be distributed to users as their rewards for adding liquidity. The remaining 1/6 will be used to buy back SASHIMI, which will then be added to the Sashimi Bar and distributed to the SASHIMI token stakers. Note: Currently, all of these transaction fees are used as the rewards for liquidity providers (LP). 4.2 Tokenomics of SASHIMI SASHIMI is the Token of SashimiSwap and will be allocated 100% based on liquidity mining with no pre-sale, pre-mining and team shares. 4.2.1 SASHIMI Token Information Token Name: SASHIMI Total Supply: 100 million (Note: All data may be subject to adjustment through governance) 4.2.2 Distribution of SASHIMI The SASHIMI token will be 100% distributed to LP token stakers through liquidity mining. The SASHIMI rewards are allocated to each transaction pool of SashimiSwap Farms based on the specified proportion. In the transaction pools, the SASHIMI Token is allocated to users in proportion to their staked LP token. 4.2.3 SASHIMI Release Model In the initial stage, 1000 SASHIMI are distributed per block. The distributed rewards will be halved according to the rules shown in the figure below until the total amount reaches 100 million. Note: There will be some deviation in the block height at which the rewards are halved .
5. Liquidity Migration Mechanism
The LP token promised in SashimiSwap will be gradually migrated in the future. The migration will redeem the LP token on Uniswap and start a new transaction pool on Sashimiswap Exchange. These new transaction pools will be almost the same as those on Uniswap. After the migration, the converted liquidity will be injected into the SashimiSwap transaction pools, and the transaction fees generated will be shared in the SashimiSwap ecosystem.
Decentralized VPN network @OrchidProtocol launched an additional Chainlink oracle live on mainnet to aggregate bandwidth pricing from Orchid providers. This allows users to easily estimate the cost of network services, ensuring they pay a fair market price.
Given their successful testnet implementation of the Chainlink-powered ELA/USD price feed, blockchain platform @ElastosInfo integrates additional Chainlink price feeds on its ETH sidechain to power an upcoming money market dApp.
Cross-chain DeFi platform @ReefDeFi will use Chainlink's ETH and DOT denominated Price Reference Data to power their smart asset management tools, such as automated portfolio rebalancing and yield farm optimization based on changes in asset prices.
DeFi-powered NFT project @aavegotchi is integrating Chainlink VRF as its source of provably fair randomness. Chainlink VRF will help determine an Aavegotchi’s unique characteristics, generate unpredictable game scenarios, randomly select DAO jurors & more.
@Theta_Network & Chainlink collaborate to solve click fraud w/ universally connected smart contracts. Proving user activity wasn't adversarial bots prevent theft of funds & correctly sends payments for better content to publishers that deserve to be paid.
We're excited to help support the larger blockchain community's open-source development by contributing financial resources to @gitcoin's Grants Round #7. Chainlink strongly believes in supporting the open-source ecosystem that we are all building together.
Learn how Chainlink provides developers with a variety of live oracle solutions that can be easily integrated, including decentralized price feeds, provably fair random numbers, & access to any API. Learn how to enhance your smart contract today with these features.
Decentralized Finance continues to grow, and increasingly solutions are needed that can scale, incorporate outside data, ensure privacy, and promote financial sovereignty. Learn how Chainlink and Oasis are joining forces to bring oracles to the Oasis Network and learn more about how adding confidentiality and scalability to DeFi applications of today can enable an entirely new and more accessible class of DeFi applications, including the ability to Tokenize Data itself, on the Oasis Network.
Who are Shipchain Partners? Why are they important to Ship Token Holders?
Back in 2017, during the ICO craze, a new website was enough for a token to gain value. In August 2020, these delusional times are fortunately behind us (although doubt is permitted when observing YAM yield farmers...) and the crypto startups that haven't gone bankrupt yet either sold their own tokens to generate a revenue (did someone sneeze 'XRP'?) or did what any legit startups in the world usually do and hope to succeed at: focus first on product and business development. So, for the ones with a functional and commercialized product like Shipchain who launched its Track and Trace web and mobile platform and is about to move these transactions to its own sidechain which went live just a couple of weeks ago, using SHIP as the network native utility token, what token holders need to focus on are both the different developers willing to deploy their dapps on the Shipchain Sidechain *and* the current and future customers/users of these dApps. But make no mistake, utility tokens are not securities. There aren't any dividends directly linked to company's profits. A *utility* token will gain value only when demand for it exceeds the available (free to sell) circulating supply and while speculation of the incoming/future demand does represent a buy pressure of its own, the only sustainable way for the token value to grow on longer time frame is for the token to be effectively... USED ! Knowing that one needs to hold and use SHIP to vote/chose reliable validators, to deploy dapps on the Sidechain and/or to pay gas for transactions ran on that blockchain (feature coming in Loom's next update), the real significance to tokens holders is how many dapps are deployed and how many transactions are each of them performing on the Shipchain Sidechain. The purpose of this article is to go through each customers already publically announced by Shipchain to understand their needs, their purpose and their relative size in the logistics industry, which will help potential investors to evaluate the current and future demand for the SHIP token. Have a great read! CaseStack provides supply chain management (SCM) services, including warehousing, transportation, and supply chain management software (SCMS) to consumer packaged goods companies (CPGs). CaseStack works with some of the world's largest retailers, Fortune 50s, and brands, such as Target, Duracell and Amazon. CaseStack is a subsidiary of Hub Group, #3 ranked world-class supply chain solutions provider that offers multi-modal transportation services throughout North America, including intermodal, truck brokerage, dedicated and logistics services. A publicly traded company with $4 billion in revenue CaseStack is partnered with ShipChain by integrating tracking and tracing on ShipChain's blockchain based platform. "By integrating with the more than one million loads CaseStack transports every year to major retailers, there is opportunity to implement both ShipChain’s platform and driver rewards program. KeepTruckin provides drivers with the number one rated Electronic Logbook App for iOS & Android. For fleets, KeepTruckin's web dashboard automates log auditing, IFTA reporting, vehicle location tracking, and more. KeepTruckin is presently in use by 400,000 drivers and 13,000 fleets A ShipChain and KeepTruckin client is able to Pick up and deliver shipments in your organization with full transparency provided by the blockchain from the convenience of a smartphone. Monitor in-real-time, tracking updates simultaneously between web and mobile for any moving shipments. Upload signed documents, handling procedures, inventory lists, and shipment images with just a few taps. Share key shipment information and updates with the recipient through the life of the shipment. This integration allows KeepTruckin's GPS data to be added to the ShipChain ecosystem to provide a truly end-to-end track and trace. Distichain connects manufacturers, wholesalers, distributors, retailers, insurers, logistics providers, and banks through legally binding and financially supported smart contracts within a highly secured environment. Distichain smart contracts clearly define roles and responsibilities of buyers, sellers, service providers, and Distichain. The smart contracts backed up by blockchain trade finance secure credit given by sellers, eliminating all default risk. Integration of logistics, banks, and insurance companies eliminate intermediaries and minimize cost. ShipChain and Distichain plan to offer their services together on a larger, joint platform. Distichain’s technology will bring in their established marketplace to companies of all sizes, along with the documentation pertaining to different shipments to be stored on the blockchain. ShipChain will then track and trace the shipment with visibility heightened via blockchain technology through its delivery. Once the shipment has been tracked, payments are handled via Distichain’s system. ScanLog - Scandinavian Logistics Partners AB is a fully independent Swedish logistics company focused on international and global transport solutions for Scandinavian exporters and importers. Scanlog offers complete international freight forwarding and logistics solutions using all transportation modes: air, sea, road, rail, single and multimodal. Scanlog, which has been rapidly expanding its global reach, finds relevance in the ShipChain platform because it can help monitor Scanlog’s trucks – from the pickup point to the destination. ShipChain uses blockchain technology at its core and its flagship solution – the smart contract – helps bring transparency and visibility to supply chains, with the company running a successful pilot trial program partnering alongside Perdue Farms. ShipChain’s software can be fully integrated with most of the transportation management software (TMS) systems in the market, and can seamlessly track freight across any mode of transportation. Zinnovate International is a fast-growing IT and management consultancy company with its roots in empowering global logistics companies to realize the full potential of their IT portfolios. They were awarded The Best Management Consultancy in the Global Logistics Industry at the Business Worldwide Global Corporate Excellence Awards 2017. They offer systems, services and consultancy experts in three crucially essential areas ERP, BI and Integration. “Zinnovate is determined to maintain its industry front seat position and continues to team up with leading technology providers to deliver ‘unfair advantages’ to forward-thinking logistics companies,”says Zinnovate International CEO, Håkan Nilsson. “On behalf of the global team of Zinnovate, represented on all continents, we are extremely proud to support the visionary leaders of ShipChain.”. ParcelLive is a real time parcel tracking IoT service that allows you to track the location, condition and security of your shipments almost anywhere on the planet. The ParceLive sensors, developed by the UK-based IoT innovator Hanhaa, will be inserted directly into shipments, where they remain for the duration of the delivery. Once the device is activated, the sensors report their location, condition, and security to the user in real-time. The integration of ParceLive’s trackers into the ShipChain platform will allow both services to advance their common mission of increasing transparency and lowering costs for consumers. Under the new partnership, ShipChain will integrate ParceLive’s tracking technologies into its shipping and logistics system. The microsensors will enable customers to monitor temperature, moisture, light, impact, tilt, and GPS location to ensure quality control and monitor shipment progress. GTX Corp is a technology licensee that develops miniaturized Global Positioning System (GPS) tracking technology for a wide variety of consumer branded products. ShipChain will use GTX’s temperature enabled NFC smart tags to track temperature-sensitive shipments. The tag requires no scanners, or wires, and records temperatures based on customer-defined intervals and durations. In addition, GTX offers other NFC products that ShipChain will utilize to optimize its Track and Trace Platform. Significance to Token Holders: Ethereum in its current state (1.0) got clogged by a fairly reasonable peak of interest in Crypto Kitties and is today overwhelmed by the growing interest in DEFI + a couple of Ponzis. Let alone concerns from the industry on sensitive data storage and privacy, the prospect of tracking on Ethereum hundreds of thousands of shipments with a live GPS localisation every 5 km for each of them isn’t quite encouraging (eg. 1 mio drivers using the Keeptruckin app, each driving 2500 km per week on average, could trigger up to 800 transactions per second on the Shipchain network, this is x50 more than Ethereum’s current capacity). The Shipchain platform is all about blockchain transactions. Each customer who uses the ShipChain blockchain platform, triggers multiple transactions on that platform. Each transaction requires the use of ShipChain tokens to secure the platform thus placing organic demand for more tokens. It’s all about supply and demand.
The name shows that the solution works for mining on the farm’s central processors. Stable, fairly popular program; Ethereum GPU mining software. It is the GPU processors installed in the video cards that are most often used to work with Ethereum. The described programs, for the most part, use the power of video cards. Chicago Gem Shop– Shop gems online with Ethereum. 5. 1000 EcoFarms– Online store to buy fresh farm products in ETH. 6. Laptop Power Bank– Buy laptop power bank for ETH. 7. Peddler.com- Buy anything from this e-commerce store for ETH. 8. FlokiNet– Cloud hosting and domain seller. 9. QHoster– Hosting and VPS service. 10. There’s always a get-rich scheme in cryptocurrencies. Thousands of investors lost billions of dollars on Bitconnect, a pyramid scheme offering monthly returns of 40% or more that collapsed in ... Share on Facebook Share on Twitter Pinterest Email Ethereum’s decentralized finance sector, or DeFi, has seen explosive growth over the past few months. And one of the major dynamics driving this recent growth has been the rise of what’s called yield farming. Farm shrimp on the blockchain and sell them for Eth! ... Ethereum Game. Web. EN. Collect. Like. Share. 24Hr Users 0 Total Unique Users 10,700 ... and enjoy dapps with ease. Explore 3,000+ dapps built on Ethereum, EOS, Tron, Klaytn, NEO, Steem, IOST, TomoChain, and more. Subscribe to our newsletter. Subscribe.
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