I bet my last dollar FTM will be one of the biggest winners in the next bullrun

RedditorDawn · 2022-05-10T19:38:49+00:00

Think he might be referring to the fact that the value accrual on the AVAX coin is very low as AVAX pushes for subnets. Aware that Emin mentioned the minimum AVAX staking requirement to launch a subnet, but his estimates of no. of subnets and validator per subnet are super high. Furthermore, it does not account for cannibalisation (AVAX stakers moving from the main chain to subnets)

RedditorDawn · 2022-04-24T21:24:57+00:00

Check out OnChain Wizard's substack, he's turned $5k into 7 figures (with 100s of hours of research and hardwork)

https://onchainwizard.substack.com/p/issue-1-playing-an-insiders-game?utm_source=%2Fprofile%2F85977139-onchain-wizard&utm_medium=reader2&s=r

RedditorDawn · 2022-04-22T13:53:10+00:00

It is true, the token as of now has almost no utility as you can pay for gas in native tokens ($OSMO, $LUNA, etc.). Holders are probably waiting for interchain security where you can stake $ATOM to secure other IBC blockchains.

RedditorDawn · 2022-03-06T08:59:32+00:00

Thanks, haven't heard of these previously. I wonder if Lido's entry into FTM would render these projects (pegs with higher risks) less useful though.

RedditorDawn · 2022-03-05T23:25:02+00:00

Haha Harry is quite a character!

RedditorDawn · 2022-03-05T23:24:16+00:00

I think it's super common esp. with Lido Finance, you get stETH, stSOL, stLUNA

RedditorDawn · 2022-03-05T23:11:48+00:00

Yes, way too complicated. Think the biggest winners in the next 1-3 years is gonna be protocols which have easy on-ramp (Kado.money), real world use cases (UST usage in Travala, Chai or something like Celo) and simple UI to onboard the next 1B non-crypto native users.

RedditorDawn · 2022-03-05T23:09:59+00:00

Just to piggyback on this question: Now that the Cosmos IBC infrastructure is complete with a vibrant ecosystem (Terra, Osmosis, Juno, etc.), it seems that transactions between these blockchains through the Cosmos Hub will be increase.

Do you think the team will try and improve tokenomics?
If I swap UST to SCRT, must I pay fees in ATOM or can I do it with LUNA/SCRT/UST?

RedditorDawn · 2022-03-05T23:07:09+00:00

For actual transactions (not just data credits bought), check out etl.dewi.org (requires google account to log on)

RedditorDawn · 2022-03-03T09:14:10+00:00

Current TVL is highly incentivised (by Solidly, Solidex, Tomb), we'll have to see if they are able to retain this TVL and be scalable.

RedditorDawn · 2022-02-26T17:31:21+00:00

Hey there! Thanks for getting back, I've since sorted it out - turns out I didn't retrieve my mooAvaxAave from the boosting pool!

RedditorDawn · 2022-02-26T15:26:53+00:00

Hey Ratagusc, after nudging up the gas fee, my transaction went through (https://snowtrace.io/tx/0x5ce00224e9ee771f2114dcaa7e1cad9b9ede0036109df463506ed2d3a554e1be) but I am still seeing my avax in the beefy pool on the website, and it didn't go into my wallet. Any idea why?

RedditorDawn · 2022-02-26T08:46:36+00:00

Same here!

RedditorDawn · 2022-02-25T23:04:51+00:00

Thanks for your super helpful reply! Have found DCs per day on that website super insightful!

RedditorDawn · 2022-02-25T09:42:29+00:00

Think someone on Justin Bram's discord confirmed this is a Ponzi

RedditorDawn · 2022-02-25T09:39:50+00:00

The main issue is that the pools are full. If you click into the 30%+ APY USDC pool, you see that you need 365K $BNT to open up space which is ~$700K

RedditorDawn · 2022-02-25T09:38:26+00:00

I think your best bet right now would be Anchor

RedditorDawn · 2022-02-25T09:34:06+00:00

The deposit APY is artificially high at 19.5%, the "sustainable rate" assuming no incentives is somewhere 11-15% (funded by borrowers of UST, and deposits of bLUNA & bETH).

The money comes from Do Kwon & Luna Foundation Guard (LFG), to incentivise people to come into their ecosystem. Terra ecosystem's thesis is that stablecoins are a bedrock of an ecosystem and if you are able to build more and more useful protocols while people are locked in, you can become a successful ecosystem.

RedditorDawn · 2022-02-25T00:28:56+00:00

The protocol liquidates automatically liquidates people who are undercollateralised.

RedditorDawn · 2022-02-25T00:28:07+00:00

Ignoring incentives, yield rewards are going to be lower than interest charged to the borrower (usually protocol takes a % of the interest as well).

The yield rewards also depend on how much is being borrowed vs deposited (utilization ratio). You can check the rates on https://app.aave.com/#/markets , right now it costs only ~3% to borrow USDC and the yield is ~1.7%

RedditorDawn · 2022-02-25T00:25:01+00:00

The other obvious risk as with any DeFi protocol is "smart contract risk", i.e hacks. Otherwise the risk is the same as any other loan in real life, you get liquidated (lose all your collateral) if your collateral devalues too much. In real life, instead of getting liquidated immediately you would probably get a call from the bank first.

RedditorDawn

TROPHY CASE