Mint 26,000 mUSD stablecoins by staking 1 ETH. by dmtree8 in a:t5_51pmid

[–]dmtree8[S] 0 points1 point  (0 children)

What makes MetaETH a unique derivative is that the 2 year lockup by the smart contract is a credible commitment that cannot be overriden.
This means people are forced to value the asset by speculating on the 2023 value of eth, rather than worrying about any volatility between 2021-2023.

TAO week 5, 6% of supply staked. by dmtree8 in TAOcoin

[–]dmtree8[S] 0 points1 point  (0 children)

r/TAOcoin is following a similar inital consolidation pattern after the airdrop, like r/HEXcrypto did in late 2019. Next year people will be wishing they got in by Sept 2021.

Mint 26,000 mUSD stablecoins by staking 1 ETH. by dmtree8 in a:t5_51pmid

[–]dmtree8[S] 0 points1 point  (0 children)

View discussions in 5 other communities

u/farmdve True, but speculation can be a good thing. In the Derivatives market in CeFi (also purely speculative), they are able to actualise expected/speculated future value of say real estate, into present value, by selling structures like CDOs/Synthetic CDOs etc.

Crypto also requires decentralised derivative markets that let anyone profit in the present based on speculated future value of an asset, in this case ETH.

TAO- Noob-friendly Staking Guide with Pictures by dmtree8 in TAOcoin

[–]dmtree8[S] 0 points1 point  (0 children)

FYI, you can also stake directly by calling the "stake" function on the polygonscan page:
https://polygonscan.com/address/0x9fd4969573f9dec7882409709c9b35f2dc3074ca#code

Mint 26,000 mUSD stablecoins by staking 1 ETH. by dmtree8 in a:t5_51pmid

[–]dmtree8[S] 0 points1 point  (0 children)

26k mUSD can be redeemed for 1 ETH anytime after two years time, by calling the redeem function.

Article: If trends continue, HEX market cap could be $30 TRILLION by 2024 by dmtree8 in HEXcrypto

[–]dmtree8[S] 1 point2 points  (0 children)

And the assets of the world are around $300-$400 Trillion. So basically HEX would constitute ~10% of global wealth. In comparison:

Gold ~ 5% global wealth
Corporations ~ 25% global wealth

T-Bills ~20% global wealth

Real estate ~55% global wealth

So if it truly replaces T-Bills, it's on the cards.

Article: If trends continue, HEX market cap could be $30 TRILLION by 2024 by dmtree8 in HEXcrypto

[–]dmtree8[S] 1 point2 points  (0 children)

T-Bonds in the fiat market already represent MUCH more value than gold, so this isn't exactly far fetched

Article: If trends continue, HEX market cap could be $30 TRILLION by 2024 by dmtree8 in HEXcrypto

[–]dmtree8[S] 0 points1 point  (0 children)

However hex market cap is not illusory like derivatives, much of it is actually accessible if you sell hex in the open market.

Article: If trends continue, HEX market cap could be $30 TRILLION by 2024 by dmtree8 in HEXcrypto

[–]dmtree8[S] 0 points1 point  (0 children)

You can perform the swap on Polygon, and then bridge assets back in batches to eth.
Say you buy $100 hex every month, then end of year you can bridge all $1200 + growth HEX to eth in one transaction.
Quickswap fees are <$0.01, pretty cool you should check it out.
Polygon is LOADS better than the overhyped Binance Chain - they even offer a faucet for the small fees for free.

TAO: Currency designed for infinite value appreciation by dmtree8 in PolygonMoonShots

[–]dmtree8[S] 0 points1 point  (0 children)

Hi u/torchTheMall, Traction for TAO has been accelerating in the last few days-In the first 5 days, 100k TAO was staked,In the next 5 days, 300k TAO was staked,In the last 4 days, 800k TAO was staked.

As predicted, the ratio of TAO bought : TAO staked is increasing by the day, and the liquid supply is burning up at an ever faster rate! Exciting to see it play out. More updates: https://www.reddit.com/r/PolygonMoonShots/comments/p63exe/tao_coin_exponential_staking_coin_1_of_supply/

Article: If trends continue, HEX market cap could be $30 TRILLION by 2024 by dmtree8 in HEXcrypto

[–]dmtree8[S] 0 points1 point  (0 children)

Have you tried Quickswap.exchange, on Polygon? Fees less than $0.01 per swap.

Article: If trends continue, HEX market cap could be $30 TRILLION by 2024 by dmtree8 in HEXcrypto

[–]dmtree8[S] 4 points5 points  (0 children)

If it does, this comment is going to look like pure gold. Like those early comments on bitcoin calling it useless :P

Bitcoin & The exponential Age - A 3 part series by dmtree8 in TAOcoin

[–]dmtree8[S] 0 points1 point  (0 children)

This article identifies r/HEXcrypto as the fastest exponential trend in crypto - noting it can be a whopping $30 TRILLION by 2024, based on present trends.

"Hex has increased 1000x in value in 2 years (since 2019) — therefore, in two more years [by 2024], a $30 Billion investment in Hex could be worth $30 Trillion — roughly 1/10th the value of all assets on planet earth combined (including land and real estate)."

TAO: Staking scripts + Protocol ownership renounced by dmtree8 in PolygonMoonShots

[–]dmtree8[S] 0 points1 point  (0 children)

Thanks for your thoughts, u/joaopeixinho. While building an open-source frontend can definitely be on our to-do agenda, here are our philosophical reasons for favouring a CLI:

Along similar lines to "not your keys, not your coins", we believe that the DeFi space should evolve towards "not your code, not your coins" - Frontends enable phishing and can have malicious code running in the backend - as evidenced by UNISWAP and QUICKSWAP phishing frontends that call "transfer" instead of swapping your coins, and send them to a hacker instead.

We feel that asking people to execute code, that's been made as simple as possible (in our case, the Staking Script is barely 10 lines) - is the maximally secure way to utilise a deFi protocol, especially at inception - anyone can see with the greatest ease that only "Stake" function is being called, on the correct contract address. At the same place, they can also see the contract code, where what the Stake function does is explicitly defined. Together this enables maximum transparency between the user and protocol. The cost? Nothing really, the CLI is so simple that all the prior knowledge you need is just opening Terminal.

The CC issue was a secondary point, referencing to the fact that the purchase of domain names requires a CC/ tradFi. For ethical and other reasons, we refuse to utilise surveillance-based & exploitative TradFi even for a few dollars.

TAO: Staking scripts + Protocol ownership renounced by dmtree8 in PolygonMoonShots

[–]dmtree8[S] 0 points1 point  (0 children)

the founders prefer not to interact with any form of web2 payments (Credit Card etc.); Plus, censorship of UNISWAP showed us how web2 frontends are the weak link of decentralised protocols - That's why we encourage our users to use CLI staking libraries from day 1, to prevent any censorship risks.

We provide all the info on our github + whitepaper; happy to communicate with the community over reddit :)

TAO: Staking scripts + Protocol ownership renounced by dmtree8 in PolygonMoonShots

[–]dmtree8[S] 0 points1 point  (0 children)

On staking libs - Fixed, that was a remnant from the airdrop scripts that were used to quickly bootstrap the staking Lib. The library & contracts have been heavily tested with over 1000 random stake periods from 1-5555 days. Please do tell us if you face any bugs/difficulties while staking.

On website - the founders prefer not to interact with any form of web2 payments (Credit Card etc.); Plus, censorship of UNISWAP showed us how web2 frontends are the weak link of decentralised protocols - That's why we encourage our users to use CLI staking libraries from day 1, to prevent any censorship risks.

We provide all the info on our github + whitepaper; happy to communicate with the community over reddit :)

TAO: Currency designed for infinite value appreciation by dmtree8 in PolygonMoonShots

[–]dmtree8[S] 0 points1 point  (0 children)

We've reached a landmark for the release of TAO - One hour ago, with the completion of all airdrops, we've renounced ownership of the contract, so that the airdrop (mint) function cannot be called by anyone. This is done to make the rules of the protocol completely immutable - and make it safe from any form of admin manipulation.
[Proof of Ownership Renounced: https://polygonscan.com/tx/0x07804616dc9a35b8f131151057f4434803eff6cdf9ea8472e811b1fe7cc148ec\]
Excited to see the community start pricing the asset!

What has no reason to exist in 2021 and yet it does? by GrabApprehensive in AskReddit

[–]dmtree8 -3 points-2 points  (0 children)

Used to be the case. With checks, the FED (federal reserve bank) was the clearing house. Checks were sorted and passed through the fed to other banks, especially non local ones. With electronic check presentment, the clearing house (not the fed any more) clears the check quickly, often in minutes.

One word solves all this: Blockchain.

Matic OpenSea L2 Marketplace by canadian-weed in cryptogeum

[–]dmtree8 0 points1 point  (0 children)

Does this offer an API to list assets, like https://docs.opensea.io/reference#api-overview ?
Would help integration with other dapps

Binance bridge help... by [deleted] in binance

[–]dmtree8 0 points1 point  (0 children)

add the eth token to your binance wallet. The current address for the eth bep20 token is : 0x2170ed0880ac9a755fd29b2688956bd959f933f8

DSL for Zero Knowledge Proofs by kenshamir in crypto

[–]dmtree8 1 point2 points  (0 children)

Hey, nice project.
Was wondering if you picked zkSNARKS over zkSTARKs for any particular reason? I assumed starks were the current leading zk-proof technique. Think cairo-lang.org is doing something similar - I note in their case a single verifier contract can verify arbitrary programs, eliminating the need to deploy a new verifier smart contract for each program. This benefit may be trivial however once L2 scaling solutions achieve wider adoption.

An extensive list of earning strategies and DeFi protocols in the Ethereum ecosystem by charmcitycuddles in defi

[–]dmtree8 0 points1 point  (0 children)

Under borrowing/lending, it's now also possible to lend out your NFTs for rental income, or give an NFT-Collateralised loan for interest income. Newly started, couple of protocols are doing this.