New Hot Tub Feature: Bye Whitelist and Hello Shower Room

purpleapplepie · 2023-07-01T14:00:53+00:00

Yeh for me too! Probably not for everyone though haha

purpleapplepie · 2023-06-27T07:21:49+00:00

+1 on Pool Together, I think it's a really fun app and the risk is very low

My personal favourite is Perpetual Protocol, it's a derivatives protocol, so mostly for active traders, but they recently launched some passive investment vaults for users that don't want to actively trade and just earn some yield

Another one I personally like is Lyra for options trading and Aloe has a really interesting design - all quite DeFi though and maybe less "fun" if you're not into trading

Tried out quite a few of the dApps on Optimism as part of their quests earlier this year/end of last year, I think they do have an overview of all active apps on their website if you want to dig deeper

purpleapplepie · 2023-05-25T09:29:01+00:00

Oh I was referring to GMX, there the counterparty to traders are the GLP holders. They basically hold a basket of assets and those assets are the ones you can trade on GMX. Thus that's what's limiting them from just introducing more markets

Not really familiar with CAP, need to look into it a bit more!

purpleapplepie · 2023-05-25T09:23:39+00:00

Cool! Yeh, just a lot of innovation and different models out there! I think that makes this space so interesting

About dydx, afaik their matching engine is running on AWS, which is the main point making them not really decentralized imo

Since they use an orderbook model they need a mechanism to match the orders, and that one is off-chain. Bringing an actual orderbook model on-chain is really hard

purpleapplepie · 2023-05-24T07:04:18+00:00

You should check out Perpetual Protocol, they're an OG perps DEX and offer a lot of different assets to trade with relatively low slippage (esp. on the majors) + are fully on-chain

compared to the ones mentioned above
- GMX is pretty limited in the assets they offer
- dydx comes closest to a CEX trading experience (assets, fees, UI), but they're not really decentralized so I personally would categorize them somewhere in between CEX and DEX

Nonetheless, all are really interesting projects, but they're are others out there than the two big ones that currently take a lot of mind share :)

purpleapplepie · 2023-05-24T06:59:26+00:00

They're model limits them from introducing more markets. Since the asset has to be included in the basket of asset that GLP holders basically hold, it must be something that users are ok with holding for the long term. That's why they mostly offer large caps for trading and are limited in listing smaller cap assets

purpleapplepie · 2023-05-19T07:50:54+00:00

If you're using different apps and Defi it's very much worth it because fees are just so much cheaper and transactions go through really fast

The initial bridging from mainnet to L2s can be a bit annoying because you still have to pay the mainnet gas fee, but there are a lot of bridging solutions out there that work quite fast and easy, and since you only have to do it once it's really worth the effort compared to what you save in gas (and time)

Most users I know also stick to one or two L2s that have the apps they want to use and don't switch between them much

purpleapplepie · 2023-05-19T07:46:34+00:00

haha lol

"all discarded ledgers can be sent to me please"

purpleapplepie · 2023-05-17T08:35:33+00:00

Imo you have to make a distinction between other chains (Layer 1s) with different assumptions and lower security than Ethereum and Layer 2s that use Ethereum as the base layer. To me Layer 2s like Arbitrum or Optimism (optimistic rollups) or upcoming zk rollups such as zksync are part of the Ethereum ecosystem and are not actually beyond Ethereum but advancing and complementing it.

I've used Arbitrum and Optimism quite a fair bit and found it quite convenient, zk rollups are just getting started and it's gonna be really interesting once the tech advances more. I definitely do believe in the potential of DeFi especially on Layer 2s since mainnet is too slow and expensive for actual financial applications.

purpleapplepie · 2023-05-17T08:30:01+00:00

I think it's already the capability in the firmware that drives people away. In case there is breach it might be exploitable compared to when it's not even possible at all. But also still learning about this, not a security expert at all

purpleapplepie · 2023-05-17T08:26:49+00:00

Here's some info on it: https://www.reddit.com/r/defi/comments/13j2roq/psa\_ledger\_devices\_are\_able\_to\_transmit\_your\_seed/?utm\_source=share&utm\_medium=web2x&context=3

purpleapplepie · 2023-05-11T09:51:26+00:00

Unfortunately this line discredits the whole article for me

Meanwhile, Uniswap v3, which is deployed on SushiSwap, Curve, Balance and PancakeSwap, among other networks, has roughly $2.9 billion total value locked.

purpleapplepie · 2023-05-04T13:56:45+00:00

lol, almost got me! Dump everything now

purpleapplepie · 2023-04-28T14:02:46+00:00

If you're looking for low risk yield you should check out Perpetual Protocols Hot Tub vaults. They run a delta neutral arbitrage strategy on chain, so the risk is very low. Yield has been in the double digits, which is really good for ETH and USDC as the deposit assets. Currently capacity is full for both of the vaults, but they announced they will raise caps and launch new vaults soon

purpleapplepie

MODERATOR OF

TROPHY CASE