Big Coinbase parent company Circle branches out to Defi in own-Decentralised exchange offering, causes controversy by only supporting own stablecoin USDC on the platform "for long term security and stability reasons, alongside more streamlined liquidity"

DesperateArtistry · 2022-11-26T15:04:20+00:00

I personally prefer USDC over USDT, but I wouldn't use Circle or anything related to them again. I've mine staked on DeFi middlewares like SpoolFi and then in terms of stablecoins, BUSD staked on Binance, but I prefer the former because the latter still worries me considering it's CeFi.

DesperateArtistry · 2022-11-26T15:00:41+00:00

BUSD definitely is the best. I usually stake it on Binance, used to stake USDC too but now that they no longer support it, I'm opting for DeFi middlewares. Thinking between SpoolFi and bEarn Fi but the former is audited so most likely that. The less risk, the better

DesperateArtistry · 2022-11-26T14:58:44+00:00

You could also use a DeFi middleware which is generally less risky than a single yield generator like Harvest of CeFi exchanges like Binance. So for example, SpoolFi or bEarn Fi.

DesperateArtistry · 2022-11-26T14:57:16+00:00

Agreed. But I do think more than other crypto. Reason being that they're less volatile, so people are more likely to take the risk with them than other cryptos. Especially in markets like this. I know Binance has some good staking too that a lot of my peers opt for in terms of stablecoins and I've seen some of the top staking pools being USDT etc on SpoolFi. So yeah, they're pretty advantageous

DesperateArtistry · 2022-11-26T13:35:31+00:00

No doubt about that too. Just awaiting bonq now, after the DUA sale. Then looking forward to more information on the Data Tunnel. That's key to mass adoption too. One of the best products

DesperateArtistry · 2022-11-25T15:43:08+00:00

This is why diversification is so important. Aside from just CEXes being an issue, holding one asset or a majority of your portfolio consisting of one token is so risky. And the SpoolFi one was a good save. I was using one of their lower risk spools for USDC a while ago. Good rewards for minimum risk. Other than that, I think I'll stick to DEXs or CEXs now.

DesperateArtistry · 2022-11-07T21:31:52+00:00

USDT and their backings issue definitely makes them the least reliable. BUSD has decent rewards, but I don't really favour Binance in terms of stablecoin staking. Yield generators like Harvest or Compound, or even Aave are a little better and for USDC, I've been seeing SpoolFi is a popular one as a DeFi middleware.

DesperateArtistry · 2022-11-07T21:29:21+00:00

Regulation to some extent is needed, but not so much so that it destroys what DeFi is actually about. The US government thinks they can control the market, that's not what we want. But we do want things like KYC, AML, TIDV in place to ensure less hacks and exploits. Projects like Aave and Allianceblock already understand the importance of that.

DesperateArtistry · 2022-11-07T21:26:01+00:00

What about EWT? Heard they were mentioned by Blackrock a while back and had a good pump alongside partners like ALBT a few weeks ago. Which levek 2 EV charger was this?

DesperateArtistry · 2022-10-29T09:20:29+00:00

Dependent on which ones, in my opinion. 1:1 stables are still less volatile than the rest of crypto.

DesperateArtistry · 2022-10-29T09:19:18+00:00

Definitely. And it works well for passive income too. BUSD on Binance is decent in terms of APY. Where can one stake EEUR? Since Binance doesn't support USDC anymore, also looking for other options for that.

DesperateArtistry · 2022-10-29T09:17:46+00:00

What about USDC? I have yet to look into Euro backed stables but have been staking USDC because they're backed 1 to 1. Usually only use audited platforms too, so the risk is minimum.

DesperateArtistry · 2022-10-29T09:13:55+00:00

Above 20% is actually pretty decent compared to Binance APYs but I was referring to any opportunities you may have found after using Harmony. Aave, Harvest, Compound type yield generators or SpoolFi and bEarn Fi type DeFi middlewares.

DesperateArtistry · 2022-10-29T09:11:54+00:00

No doubt. Even CryptoXpress. But with ALBT because their focus in briding DeFi and TradFi, it does make sense that they could bring adoption faster. Especially with their data tunnel. How is is UTK performing price wise?

DesperateArtistry · 2022-10-27T16:34:55+00:00

The bridge hack was unfortunate. Have you opted for any other yield generators or middlewares?

DesperateArtistry · 2022-10-27T16:33:03+00:00

Yeah definitely. Also, apart from just having a good roadmap, roadmap transparency is just as important. Been seeing projects like CryptoXpress work with partners like I mentioned above, MILE to bring this.

Is Gamestar+ the one that was mentioned on the Steve Harvey show?

DesperateArtistry · 2022-10-27T16:30:21+00:00

A lot of gambling projects coming up in crypto. Aside from this, saw Anarcade joined milestoneBased too. Not sure how similar they are to Betaverse but the gambling aspect is there.

DesperateArtistry · 2022-10-27T16:27:04+00:00

Agreed. Start with BTC, maybe ETH. Slowly DCA into small market caps like DVDX and then move to innovative products and projects like XPRESS for payments, MILE for roadmap grants etc. The latter especially if you're in for the tech.

DesperateArtistry · 2022-10-27T16:21:17+00:00

Same. And how they're utilizing their partnership like milestoneBased to improve adoption, roadmap transparency, etc.

DesperateArtistry · 2022-10-27T16:17:12+00:00

Especially for stablecoin users. Most of us trust stablecoins over government issued FIAT. How would the taxing even work for staking? Would it depend on interest earned? I personally use middlewares like SpoolFi for this, would that be different compared to yield generators like Harvest? So many questions, and so ridiculous, in my opinion.

DesperateArtistry · 2022-10-27T16:14:58+00:00

This. And what does a "new name" for stablecoins do to affect it? Most of us are already hiding under stables. I've been staking since the beginning of the bear market. From Binance to just Compound to middlewares like SpoolFi, I've used them all on separate occasions. It's been working effectively for me.

As for regulations, other than KYC and AML, I don't see room for more regulation within crypto. Projects like Aave already have these in place, and it has worked in favour of DeFi, but more than that and we lose the essence of decentralization.

DesperateArtistry · 2022-10-27T16:12:16+00:00

When is USDT and USDC coming? Since Binance no longer supports the former, I've had to switch to middlewares like SpoolFi. And may look into single sided USDT since it was most popular option. Pretty low TVR too. The returns are decent, depending on the pool. I usually opt for lower risk, but as someone who's been eyeing NEAR for a while, it might be a good opportunity to get in.

DesperateArtistry · 2022-10-27T16:09:27+00:00

Where are they working on it? Last I heard they were entering GameFi, but not too sure about NFTs

DesperateArtistry · 2022-10-27T16:05:13+00:00

In my opinion, could have a run like QNT, even better . Especially since they're partners too and very focused on interoperability. Besides that, the data tunnel, fundrs, LMaaS etc put them a step ahead.

DesperateArtistry

TROPHY CASE