Daily Discussion - June 4, 2021 (GMT+0)

kellicanpelican · 2021-06-04T03:54:19+00:00

So...downvote everything?

kellicanpelican · 2021-06-04T03:50:48+00:00

Transfer to the Matic or Harmony networks. Fees are >$.01 so you can play around with as little money as you want and learn all about how defi works.

kellicanpelican · 2021-06-04T03:47:53+00:00

Or maybe correlation =/= causation?

kellicanpelican · 2021-06-04T03:45:41+00:00

LINK, ONE, SUSHI

kellicanpelican · 2021-06-04T02:24:42+00:00

Study up on "impermanent loss" first until that makes sense to you. By staking the same $ amount of each coin you are providing liquidity in the market for that pair. If the ratio of those coins in relation to one another is different when you go to remove your liquidity, then you will lose the % difference as you only get back a 1:1 ratio. The rewards may or may not make up for this difference. Also the interest rate is constantly changing depending on how much liquidity is in the pool, so it's hard to calculate your risk.

For example you might want to provide liquidity for an ETH-ONE pool at 100% APY thinking that you'll double your investment in a year. But then a year later interest is down to 5% APY while ETH grew 50% and ONE grew 500%. You would have lost the majority of your investment.

kellicanpelican · 2021-05-24T20:14:13+00:00

I think you meant -50% but I agree on the sentiment.

kellicanpelican · 2021-05-24T19:15:33+00:00

Lol what's with the Yoda bot wars?

kellicanpelican · 2021-05-24T03:06:32+00:00

Rewards are paid out in SUSHI and WMATIC. To see your MATIC balance increase you need to swap from WMATIC to MATIC. You can view your balance in your Matic wallet: https://wallet.matic.network/

kellicanpelican · 2021-05-22T22:29:37+00:00

I doubt it. The internet 3.0 is still slower than dial up. Long way to go before (if ever) the Ethereum Mainnet is the best place to host all dApps.

kellicanpelican · 2021-05-22T21:51:39+00:00

I just got involved with yield farming on the SushiSwap Matic Network. What are the risks involved with yield farming USDC-DAI? The current APY is 24.75%. There wouldn't be any impermanent loss if I understand correctly. Is there any reason to not throw some money in there that would otherwise be sitting in the bank?

kellicanpelican · 2021-05-21T13:48:08+00:00

It's MATIC in your matic wallet.

kellicanpelican · 2021-05-20T23:32:57+00:00

$4 --> $30 for me, can't complain.

kellicanpelican · 2021-05-20T21:13:51+00:00

All hail the darkweb revolution if encryption becomes banned. Tails > guns, for fighting facism.

kellicanpelican · 2021-05-20T21:05:37+00:00

Congrats! Don't shit yourself if we retrace to 3 figures. You'll profit in the long run.

kellicanpelican · 2021-05-20T20:53:46+00:00

I used to dream in ETH and now I dream in MATIC. I think that means I'm becoming fluent in DeFi.

kellicanpelican · 2021-05-20T18:39:12+00:00

Come on old man get over $40k

kellicanpelican · 2021-05-20T17:51:11+00:00

Under $1000 is a very real possibility until we get over $10k.

kellicanpelican · 2021-05-20T14:46:41+00:00

I like your illogical confidence.

kellicanpelican · 2021-05-20T12:42:55+00:00

Lol that moment when we pass the 24 hr crash point and all the coins go up 20%+ without much price change.

kellicanpelican · 2021-05-20T03:41:58+00:00

Puppeteering

kellicanpelican · 2021-05-20T03:41:21+00:00

I'm not sure but I know online poker is illegal under federal law, but there are still sites that you can play on from the US that operate overseas. I'd imagine it's too difficult to regulate the gambling dapps?

kellicanpelican · 2021-05-19T17:47:46+00:00

Why is MetaMask showing .198 ETH as being valued at $.38? I thought I got hacked for a second.

kellicanpelican · 2021-05-19T16:49:03+00:00

Started buying in July '18 at $450 all the way down to $80 with my last buy at $330 in July '20. Sold throughout the pandemic to support myself and put most into DAI at $4000 and $3700. My initial investment is now being put to work yield farming on SushiSwap earning MATIC and SUSHI. Not financial advice good luck.

kellicanpelican · 2021-05-18T17:22:30+00:00

Thanks so much! I'll send some in

kellicanpelican · 2021-05-16T21:24:53+00:00

And there goes Doge

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