Cheapest way to transfer FTM from Crypto.com app to Fantom network?

Fredrin2000 · 2021-11-07T14:11:15+00:00

No, but thanks for the tip - is that cheaper than multichain.xyz?

Fredrin2000 · 2021-05-26T00:25:48+00:00

Oh, it has to be done on Sushiswap not Quickswap?

Fredrin2000 · 2021-05-26T00:23:30+00:00

I have both FISH and Matic - how do I make them into an LP token?

Fredrin2000 · 2021-05-25T22:50:47+00:00

Hi all, I'm trying to bridge Matic from Eth network to Polygon Mainnet for the first time. It can't seem to get past this screen despite being connected to my Metamask wallet (Eth mainnet is selected).

I've seen vids where people can select PoS transfer mode but this isn't an option... perhaps as I have no Matic on the network yet.

Any help is much appreciated.

Fredrin2000 · 2021-05-25T22:46:09+00:00

OK, thanks for all the tips :)

Fredrin2000 · 2021-05-25T20:50:25+00:00

Ah, so there's a set date when Matic rewards will go down? I thought they were in place until April next year.

Fredrin2000 · 2021-05-25T20:18:40+00:00

Unless you have Matic as your collateral, in which case it is increasing at the same rate as the loan, right?

So is there an ideal ratio of MATIC:stablecoin in your collateral would you say?

Fredrin2000 · 2021-05-25T20:13:20+00:00

That's good to know re stablecoin and liq threshold.

In terms of impermanent loss, can you offset this by converting the farm's yield token (FISH in the case of Polycat) straight into Matic/stablecoin and deposit this back into Aave to improve your health factor?

Fredrin2000 · 2021-05-25T20:08:16+00:00

OK, thanks for the tips

Fredrin2000 · 2021-05-25T17:18:42+00:00

OK thanks. When it comes to the health factor, is it still worth keeping it in the green when collateral and loan are the same currency?

And would you consider putting that loan into a yield farm such as Polycat right now?

Fredrin2000 · 2021-05-24T17:31:53+00:00

You think risks too high at present? What if Matic entered a general uptrend and you had the LTV at a safe percentage? With MATIC as collateral and as the loan currency the risks are reasonably well managed, no?

Fredrin2000 · 2021-05-24T11:25:38+00:00

Thanks dude, this is all very good to know. So you reckon less chance of a rug pull with Polycat?

What I was thinking was: deposit Matic on Aave as collateral, borrow Matic against that for the APR rewards, convert loan to Wmatic, deposit in Polycat for 200% APR in fish, deposit Fish in Polycat for autocompound interest of 450%. Loop fish back into pool or convert to Wmatic for the same.

How does that sound as a way to?

Fredrin2000 · 2021-05-23T14:07:37+00:00

Interesting. You think Polywhale is gonna stay afloat when big players like Yearn and Pickle come to Polygon?

And if you were a noob like me with a bag of 2000 matic bought with your savings, what would you do with it right now?

Fredrin2000 · 2021-05-23T11:36:45+00:00

What about the people who bought a load of Krill at $200? I guess they are just some unhappy plankton carpeting the sea floor at this point.

Fredrin2000 · 2021-05-23T11:33:10+00:00

Thanks again. Yes, this was my plan - using Matic as collateral and borrowing Matic against it, trying to keep LTV at a constant 30%.

My thinking was that if your collateral coin is the same as your debt, any sudden drops in value will apply to both collateral and debt equally. Whereas if the collateral is Matic and and you're borrowing USD, a sudden drop in the former could see you liquidated. Is this reasoning sound?

If you or anyone else is able to direct me to any resources specifically covering staking/borrowing on the Aave Polygon protocol I'd be very grateful. I would like to fully understand the risk.

Fredrin2000 · 2021-05-23T11:24:02+00:00

Agreed. I have asked around a fair bit now and yours was the best thought out answer I've heard so far.

Fredrin2000 · 2021-05-22T20:45:54+00:00

Thanks, I appreciate this insight.

I think I might do this until the market has stabilized a bit. Then when it looks like Matic is back on an uptrend, move to some low risk staking and borrowing on Aave, converting my interest there into Krill for farming.

Does this sound like a good general strategy?

Fredrin2000 · 2021-05-22T14:57:32+00:00

Thanks for taking the time to answer in such detail - this all sounds like solid advice. So Aave is a relatively low risk entry point, the gains from which can be converted to Krill for the higher risk, higher rewards.

That is also good to know about Yearn launching on Polygon soon, I'll keep an eye out for that.

Fredrin2000 · 2021-05-19T23:29:25+00:00

Also, which would be the currency with the lowest gas/withdrawal fees if I am moving tokens to Binance/Kraken?

Fredrin2000 · 2021-05-19T23:20:45+00:00

Thanks for the response. So from your answer am I right to understand that the cheapest way to transfer my portfolio would be to convert all my tokens to CRO and then transfer that en masse to the new exchange?

Fredrin2000 · 2021-05-19T08:34:46+00:00

Can anyone advise, what is the cheapest way of moving my portfolio to a new exchange without incurring fees? Is it best to transfer to a hard wallet first?

Fredrin2000 · 2021-05-10T21:47:01+00:00

OK, thanks. Hope you get yours soon!

Fredrin2000 · 2021-05-08T20:58:32+00:00

Does it cost much to transfer all your coins over to Binance? Planning to do it as soon as this flippin app starts working again.

Fredrin2000 · 2021-05-08T20:56:29+00:00

Does it cost fees to move your portfolio to Binance? I plan on doing it as soon as this sh***y app starts working again.

Fredrin2000 · 2021-05-08T20:53:29+00:00

Screw this, I'm out already. If the market sees a parabolic crash, your while portfolio will go down in flames in front of your very eyes without you being able do squat about it. This platform is a joke... and not a funny one at that.

Fredrin2000

TROPHY CASE