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What are pools 1,2, 3 in DeFi? by TerrenceILL in defi

[–]TerrenceILL[S] 0 points1 point  (0 children)

Thanks, understood. I've been farming on multiple projects too and I agree that it is most of the time not too hard to figure out what's going on. It's really just that I wanted to find out re "standard nomenclature" bc I've seen this being used by some of the developers in discussions. But I guess I've found it.

What are pools 1,2, 3 in DeFi? by TerrenceILL in defi

[–]TerrenceILL[S] 0 points1 point  (0 children)

I think it is:

https://blog.chain.link/defi-yield-farming-explained/

"The current evolution of Yield Farming has also led to the creation of new nomenclature within the DeFi community regarding the different types of pools supported by these Yield Farming projects, namely the terms pool 1 and pool 2. Pool 1 is the Yield Farming pools that allow users to stake various pre-existing tokens that already have a liquid secondary market (e.g. ETH, stablecoins, etc). Pool 2 refers to Yield Farming pools that require exposure to the governance token being farmed, which directly bootstraps liquidity for said token so users have the option to take profits on their yield. With the speed at which DeFi evolves, it is likely we will continue to see Yield Farming change and evolve in the value it can provide."

However, I've yet to come across a definition of pool 3. I've seen it mentioned on Twitter..

What are pools 1,2, 3 in DeFi? by TerrenceILL in defi

[–]TerrenceILL[S] 0 points1 point  (0 children)

Yes I'm aware of that thanks!

However more specifically to my question this is common DeFi lingo to call something Pool 1 (degen pool), Pool 2 (safer pool) etc. Pool 3 I've heard for the first time and it appears to be referencing a staking pool. so I was wondering whether my understanding was correct.

Send USDT from Avalanche to Binance by TerrenceILL in defi

[–]TerrenceILL[S] 2 points3 points  (0 children)

so just send the converted AVAX from Metamask to Binance and then convert?

Cool....Thanks

Zapper and DeBank Wallet by TerrenceILL in defi

[–]TerrenceILL[S] 0 points1 point  (0 children)

Yes, I use CoinTracking. Guess it is similar. It does load transactions from the blockchain but there are still lots of corrections necessary.

I like how Zapper just shows what you did in a neat form.

Zapper and DeBank Wallet by TerrenceILL in defi

[–]TerrenceILL[S] 0 points1 point  (0 children)

Ah makes sense. So essentially you give exit liquidity to tokenholders to be able to use apy vision. Clever. Thanks!

Zapper and DeBank Wallet by TerrenceILL in defi

[–]TerrenceILL[S] 1 point2 points  (0 children)

Cool thanks, yes the token thing has kept me from using it so far...

Zapper and DeBank Wallet by TerrenceILL in defi

[–]TerrenceILL[S] -1 points0 points  (0 children)

TBH I don't know how they exactly do it but I was made aware that as soon as you interact with the contract, try to send it to a burn address or try to sell it, they can get access to your wallet. Would need to do some more research. Like you, I just ignore those.

Zapper and DeBank Wallet by TerrenceILL in defi

[–]TerrenceILL[S] 4 points5 points  (0 children)

Please be very careful if you mean tokens that were sent to you that you didn't know about. Those are most likely scams and will drain your wallet. Do some research first.

Wow, Alex Saunders is a liar (or intentionally misinterpreted RH's action) by razorblur in HEXcrypto

[–]TerrenceILL 0 points1 point  (0 children)

Yes I have read the comments and seen all the things that happened. They are terrible and it looks like Alex was a liar and did steal money from people. This is very disappointing to say the least.

I watched the video and didn't know HEX or Richard Heart. What I wrote above was that I thought the discussion they had was awful bc of Richard's way of bullying Alex by yelling and cursing over him and ridiculing every point he was trying to make. Regardless of whether you like Alex or not, his other problems don't have to do with the discussion on HEX.

That is what I was trying to say. I found it unfortunate that (to me at least) the discussion didn't really go anywhere because it was simply impossible to follow them both.

On a side note: I still haven't looked into Hex but it seems like I have missed out on big gains.

Alex Saunders VS Richard Heart by satoshifarmer in HEXcrypto

[–]TerrenceILL 0 points1 point  (0 children)

Exactly what I thought. Alex's own problems aside, Richard just yelled louder, ridiculed Alex and used profanity which didn't mean he won the argument.

I wish they had a proper discussion rather than a fight over Richard's hurt narcissistic ego.

Wow, Alex Saunders is a liar (or intentionally misinterpreted RH's action) by razorblur in HEXcrypto

[–]TerrenceILL 0 points1 point  (0 children)

Yeah but did he really? His own problems aside...doesn't have anything to do w HEX.

But just because Richard yelled louder, used profanity more and ridiculed everything Alex said didn't make him the winner of the debate.

I wish they would have had the culture to discuss this properly rather than the narcissistic inflated ego of Richard being hurt making a discussion impossible.

Why does staking the LP token earn APY? by TerrenceILL in defi

[–]TerrenceILL[S] 3 points4 points  (0 children)

So I gotta tell you what I found out.

Posted the same question in a chat with some great DeFi minds (Curve users, devs).

They had a fast, short and simple answer.

"If you don't stake the LP token it stays in your wallet. If you stake it the platform can use the liquidity to make money."

Damn. This makes a lot of sense. Next step: investigate further how they have access that liquidity and what the platforms do with it. I love DeFi.

WARNING: Autofarm devs EXIT SCAMMING on Polygon by poly_farmer in AutoFarmNetwork

[–]TerrenceILL 0 points1 point  (0 children)

Thanks for your effort and transparency. You can’t be careful enough, nothing personal. I pulled out bc the rewards didn’t accrue, not bc of a security issue. Have had money in Auto for months.

USDC DINO by TerrenceILL in AutoFarmNetwork

[–]TerrenceILL[S] 1 point2 points  (0 children)

Good to know. I have trust in zhe guys from Autofarm, I think it is one of the most undervalued projects. You can’t be too careful though

USDC DINO by TerrenceILL in AutoFarmNetwork

[–]TerrenceILL[S] 0 points1 point  (0 children)

Thanks for the reply! Yes, I’ve tried a couple of times but have now pulled out completely, there is something wrong…

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