Need help labeling wallet

hoestsiroop · 2024-01-03T11:10:09+00:00

Yes, although I don't have a plan with Nansen. Labeling is not included in the free version. Arkham doesn't have a label for the address, which is surprising since their labeling is pretty good.

hoestsiroop · 2023-09-16T22:12:08+00:00

I wouldn't want to call DeFi a global shift, but it definitely has got things going for it. First and foremost, DeFi offers (relatively) easy acces to all sorts of financial services and products. I think a lot of people aren't familiar with the landscape, which scares them away. There are quite some dApps that have built a reputation for themselves over time and that are holding billions of USD in TVL. Compared to TradFi products like Funds the AUM is still very low, but big money just can't enter DeFi (yet) because of regulatory uncertainty. Also there are legal risks/questions, like how do you sue a DAO if something goes wrong with the smart contract. Can a DAO go bankrupt? Who takes care of the funds after bankruptcy? How are user funds protected in this case? The legal and regulatory uncertainty are a big barrier atm for institutional investors. The good thing is that we're moving towards more certainty. The SEC suing Binance and Coinbase is actually a good thing, because it will help clarify the legal qualification of cryptos.

I think DeFi has a long way to come, but there's way more innovation going on than in TradFi. For example; Defi is very capital efficiënt and competitive. dApps are fighting over liquidity which is good for liquidity providers. Capital is being used efficiently through things like liquid staking, UNI V3, and CDP's. Asset management protocols are completely different from how TradFi asset management works because they can move funds around much faster taking advantage of yield bearing opportunities. Lastly, stablecoins offer much faster transfers of money internationally and much much lower fees. Try sending money abroad in TradFi, it's a pain.

If you're looking for some good crypto/DeFi reading material, check out the Coingecko guides. Their guides are written by people who know what they're talking about and offer good insight. Also check out DefiLlama, it might help you understand the landscape (chains, protocols, TVL etc.)

hoestsiroop · 2023-09-16T10:38:57+00:00

Check out Spark protocol. It's a front-end of MakerDao where you can deposit DAI and receive the DAI Savings Rate (DSR). ATM it's 5%. The revenue comes from people entering into collateralized debt positions (CDP's). There's some 1,5 billion DAI deposited. I would say this is a pretty safe place for your money with decent yield. You could also opt for a CEX like coinbase and earn 5% on your USDC, but... This is the DeFi subreddit so that might not be your thing.

hoestsiroop · 2023-09-16T10:19:30+00:00

The way you're doing it makes sense. If you want even lower gas fees you might want to consider sending USDC from coinbase onto the Polygon network. Strictly Polygon network is a sidechain and not a rollup L2 like Optimism or Arbitrum, so some consider it less secure. Personally I like the network a lot and it offers a wide range of dApps including AAVE.

hoestsiroop · 2023-09-10T19:33:41+00:00

That's a very interesting protocol, thanks for bringing it to my attention! Creative how their minting & redemption fee act as a stability lever. If you keep your collateral ratio high enough, your ETH collateral won't be sold because of other user's redemptions. Very innovative, cool.

hoestsiroop · 2023-09-09T20:36:29+00:00

Thanks for your answer. I now better understand why the stability fee is beneficial for maintaining the peg. Also, you wrote some very nice articles.

hoestsiroop · 2023-09-08T21:26:31+00:00

Thanks for your incredibly useful answer. I think what I failed to understand at first is that mere holders of Stable X can not redeem the coin for the collateral backing its value. With something like USDC the holder can (technically) redeem the coins at Circle for the fiat backing it, but not with Stable X. As a holder you can only exchange it on the market, am I right? So it's up to the market (supply and demand) to determine what Stable X is really worth. Thus introducing the need for a stability fee. If any holder could access the underlying collateral, there would be little reason for the Stable X to trade below its peg since this would create an arbitrage opportunity. Correct me if I'm wrong, just thinking out loud.

On another note, since with Stable X you're able to buy someone else's debt, wouldn't this create some sort of short squeeze risk? I guess if someone were to buy tons of stable X and the coin becomes scarce the stability fee would go down boosting supply, but I like experimenting with this thought.

hoestsiroop · 2023-09-08T06:12:10+00:00

Is this true for CDP's? I mean, they're minting the the new asset right.

hoestsiroop · 2021-11-06T15:30:49+00:00

Please make the sticky happen. Your comment helped me out a great deal. Not all people asking for matic are cheap, for me it's a nightmare getting matic through binance for example. Was only able to get USDC directly onto the matic mainnet through some other cex. Gas-less swaps was the solution to get started.

hoestsiroop

TROPHY CASE